Congressional Budget Office

China Downgrade Forgotten As Asia Closes Higher, Futures Flat Ahead Of Fed Minutes

Not even last night's Moody's credit downgrade of China - the first since 1989 - could dent the global stock rally which has pushed global stock prices to all time highs. After initially sliding, regional stocks and emerging Asian currencies pared early losses following the unexpected downgrade of China, taking their cue from the "sudden reversal" of the Shanghai Composite Index, which some speculated saw the latest intervention of the "national team."

Stockman: Trump's Tax Plan Never Had A Chance

"...there’s going to be no Obamacare repeal, there’s going to be no tax cut, there’s going to be a massive political conflagration. What’s happened in the last few days with Comey and this crazy inquisition on Russia is going to take the government into complete dysfunction and partisan ranks."

Trump's Decision To Terminate Comey Is Now Delaying His Economic Reform Schedule

In JPM's initial market comment this morning, reacting to the news of Comey firing, the bank said that "as far as the market is concerned, Comey’s dismissal saps Trump’s political capital and weakens relations w/Congress at the time when he is trying to move an ambitious pro-growth agenda through the Senate and House."  Now, as Axios points out, this concern is starting to materialize after the Senate HELP Committee called off a health care markup this morning.

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

5 Actual 'Facts' About Tax Reform

Investors want to see corporate tax reform (including repatriation relief) succeed. Individual tax reform is a “Nice to have” but negotiations there could derail the corporate side.

The Main Highlights In Trump's Sweeping Tax Reform Proposal

There are two ways to summarize Trump's sweeping proposed tax plan: extremely amibitious in the grand scheme of things, with virtually no details. Oh, and one more thing: it has almost no chance of passing in its current form.

Jamie Dimon Warns "Something Is Wrong" With The US

"Our problems are significant, and they are not the singular purview of either political party. We need coherent, consistent, comprehensive and coordinated policies that help fix these problems. The solutions are not binary – they are not either/or, and they are not about Democrats or Republicans."