"...the Republican replacement plan, which removes all taxes on individuals who don’t buy insurance, and all penalties on employers who do not provide insurance to their employees, will actually make the problem far worse."
In an interview with Chinese TV, Syrian President Bashar al-Assad said U.S. forces in Syria were "invaders" and said he had yet to see "anything concrete" emerge from U.S. President Donald Trump's vow to prioritize the fight against Islamic State. "We haven't seen anything concrete yet regarding this rhetoric."
Senate Majority Leader Mitch McConnell has poured cold water on not only the Trump administration's goal of completing tax reform by the August recess, but the market's animal spirits, when he said that "I think finishing on tax reform will take longer" than August, suggesting Trump's tax proposals may not be implemented until 2018.
In a report demonstrating the collapse in diplomatic relations between the current and previous president, the WSJ wrote overnight that rapport between Barack Obama and Donald Trump has "unraveled" with Trump "convinced that Mr. Obama is undermining his nascent administration" and is "at war with them", while Obama is "furious" over Trump tweets accusing him of illegal wiretapping.
Mexico has taken a pre-emptive step in the imminent trade dispute with the US, by canceling existing sugar export permits to the US in a dispute over the pace of shipments, Reuters reports citing a letter. The trade flare-up according to industry sources could temporarily disrupt supplies.
Asian markets dropped following disappointing China trade and Japan GDP data, while European stocks rebounded for the first time in five sessions led by miners and banks. US futures were little changed with a strong dollar pressuring oil below $53; sterling slid for the eighth day out of nine before the chancellor of the exchequer delivers his spring budget. Treasuries are headed for their longest losing streak since 2012 ahead of a 10Y U.S. debt auction, and today's ADP private payrolls report.
"The dissonance between what I have been observing and what is being flogged by the establishment mouthpieces in the corporate mainstream media has never been greater. I’m 53 years old. The older I get the less sure I am about things I was sure about when I was 25 years old... I find it exhausting. We’re lost in a blizzard of lies."
"The slow process on ACA repeal signals that tax reform is likely to take longer than initially expected and that the final tax legislation that Congress enacts is likely to be less radical than the early proposals from House Republicans and the Trump campaign."