Wednesday, May 17, 2017
Senate GOP Gets Ready to Shape Tax Policy
The Wall Street Journal
The Wall Street Journal reports, “GOP senators are gearing up to shape negotiations over competing ideas from the House and administration and put their own stamp on U.S. tax policy. Senate Finance Committee Republicans met last week with Treasury Secretary Steven Mnuchin and White House economic policy chief Gary Cohn, and both men are to talk taxes on Wednesday with Republicans and Democrats on the panel.”
Why This Matters: We have a once-in-a-generation opportunity to do tax reform and steer our economy towards new and lasting growth. Take Action Now!
Fortune reports, “President Donald Trump in the next few weeks plans to unveil his $1 trillion infrastructure plan, which calls for $200 billion in taxpayer money to spur the plan's remaining private investment, according to the Administration's transportation secretary.” “It remains to be seen how Trump's plan will utilize private investments for the majority of his $1 trillion plan.”
US industrial production rose 1.0% in April vs. 0.4% increase expected
CNBC reports, “American industry expanded production last month at the fastest pace in more than three years as manufacturers and mines recovered from a March downturn. The Federal Reserve said Tuesday that U.S. industrial production at factories, mines and utilities shot up 1 percent in April from March, biggest gain since February 2014. Factory production rose 1 percent after declining 0.4 percent in March. Mine production increased 1.2 percent after falling 0.4 percent in March. And utility output rose 0.7 percent after surging 8.2 percent in March.”