By David Morgan WASHINGTON (Reuters) - Nearly $1 trillion of taxes imposed by the Affordable Care Act will remain in place if the Senate fails to adopt legislation to dismantle the law known as Obamacare, the top Republican on tax policy in the House of Representatives said on Monday. House Ways and Means Committee Chairman Kevin Brady told reporters there are no plans to use future tax reform legislation as a secondary route for abolishing the Obamacare levies, should the Senate healthcare effort stall. President Barack Obama's signature healthcare law is funded by a range of taxes on businesses, individuals and investments that Republicans have long sought to eliminate as part of their drive to demolish Obamacare.
CNN has retracted a story linking an ally of Donald Trump to a Russian bank, amid an FBI investigation into alleged ties between campaign aides and Moscow. The story of Trump campaign team executive Anthony Scaramucci's ties to the Kremlin-controlled Russian Direct Investment Fund was false, prompting many to accuse the outlet of "fake news". Mr Scaramucci, who founded investment firm SkyBridge Capital, responded via Twitter that the network did the "right thing".
The world is watching Hong Kong as a "test case" of whether Chinese promises mean anything, Britain's last governor said ahead of the 20th anniversary of his tearful departure from the city. Chinese President Xi Jinping will visit Hong Kong to mark the anniversary of its handover from British rule on July 1, and Chris Patten said Xi should reaffirm Beijing's respect for the city's unique brand of autonomy dubbed "one country, two systems". By and large, he said, China had respected its treaty obligations to Hong Kong and Britain in the years after the 1997 handover.
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