INTERVIEW — LARRY KUDLOW – CNBC Senior Contributor and host of The Larry Kudlow Show on WMAL Saturdays at 7 pm and author of “JFK and the Reagan Revolution: A Secret History of American Prosperity” – LATEST ON TAX REFORM
- KUDLOW SAYS THIS IS THE BEST ECONOMY IN 10 YEARS. (Breitbart) — The economy is now at its best in a decade, according to economist and CNBC regular Larry Kudlow. “The business side of the economy, the supply side, is doing very well,” Kudlow said Sunday on New York AM 970 radio’s “The Cats Roundtable.” “It’s the best showing we’ve seen — I don’t know, probably in over 10 years,” he added. “It’s as though businesses are sniffing out tax cuts, and they’re starting to pull the trigger on some investments. And that, of course, will lead to higher wages. I like that a lot because that’s been the worst area of the economy, business investments, and I think the stock market loves it.”
- House GOP tax plan would allow Americans to deduct property taxes (Washington Post) — House Republican leaders are making last-minute changes to their tax bill in an attempt to win over skeptical members within their own party, crafting a provision that would allow Americans to deduct their local property taxes from their federal taxable income. House Ways and Means Committee Chairman Kevin Brady (R-Tex.) had planned for months to prohibit people from deducting any state or local taxes from their federal taxable income as part of a sweeping overhaul of tax rules, but huge pushback from Republicans in states such as New York and New Jersey precipitated the change. Discussions are ongoing, and it remains unclear whether the change will placate the holdouts. Currently, taxpayers who itemize their deductions can write off their property taxes and also choose to deduct either their state and local income or sales taxes.
- Trump Is Expected to Name Jerome Powell as Next Fed Chairman. President Trump is expected to nominate Jerome H. Powell as the next chair of the Federal Reserve, according to two people familiar with the president’s decision who spoke on the condition of anonymity. The White House intends to announce the Fed chair selection on Thursday. If confirmed by the Senate, Powell would begin serving as chair in February, replacing Janet L. Yellen, a Democrat whom Trump has at times praised but many Republicans wanted replaced. Powell, a Republican, is widely viewed as a safe pick who is unlikely to make any dramatic changes to the Fed’s handling of the economy at a time when the stock market is soaring and unemployment is at a 16-year low. Unlike some of the other candidates Trump considered, Powell has been supportive of Yellen’s policy of slowly raising interest rates, which have been at historic lows for nearly a decade as the Fed looked to help the economy recover from a massive recession. Trump has expressed interest in keeping rates low as he aims to stimulate the economy and get more Americans higher-paying jobs.
