Donald Trump: US Republicans free away for tax package

US President Donald Trump’s controversial tax package took an important procedural hurdle in the congress. After a rare night session with their narrow majority in the House of Representatives on Thursday, the Republicans voted for the debate to be released in the plenary.

The actual coordination was expected during the day. Should the Chamber of deputy bite the plans, you would then hike to the Senate. Another weeks of debate would probably follow there. However, it was not clear to the end whether the project in the House of Representatives will receive the required majority in the House of Representatives, since some Republicans are also rejected. The Democrats are closed anyway.

In addition to his course in trade policy, Trump’s tax plans are a central building block of his financial policy agenda. In essence, the draft law provides for extending tax cuts by Trump during his first presidency in 2017. There should be tax relief for drinking money and car loans. Expenditures for the military and measures to fight immigration are to be increased. In return, Trump wants to delete many subsidies for green energy and tighten the reference criteria for food and health programs, from which previously beneficial Americans have particularly benefited.

While Trump and his supporters have been promoting the project as “a great beautiful law” for weeks, critics fear that millions of poorer people will actually be without real health protection. Economists also warn that the $ 36.2 trillion high debt mountain in the world’s largest economy in the next ten years could grow by another three to five trillion dollars. Last Friday, Moody’s was the last of the three great American rating agencies to reduce her thumbs over the United States because of the worries about the budgetary situation, withdrawing the top bonality. The financial markets have been reacting nervously and unsettled worldwide for days.