The world stands on the brink of economic catastrophe but it’s ok because a few more tourists from Phoenix are going to buy Titleist polos at the Turnery pro shop. With Britain now a free agent, the world eagerly waits to see if the Organization of American States will make a ten-year offer, with a trade deal to be named later. And House Republicans introduced their tax agenda, which is now the second development this week that will likely end with a lot more of us seeking the warmth of oil drum fires. This is HUFFPOST HILL for Friday, June 24th, 2016:
HOUSE GOP UNVEILS TAX PLAN - Because rich people are struggling more than ever and the death tax has got to go. Brian Faler: "House Republicans have said for years they want to reform the tax code and now, after much debate, they finally have a consensus plan. GOP lawmakers are set Friday to unveil a tax code rewrite that substantially differs from ideas they've previously put forward, one that will call for a much deeper cut in the corporate tax rate — to 20 percent from 35 percent. At the same time, Republicans are backing off plans to slash the top individual tax rate. They’re settling for a top rate of 33 percent, not 25 percent as they’ve long proposed. The current top rate is 39.6 percent. And they want to push the code closer to a consumption-style tax, where the government focuses more on taxing the money people spend, rather than what they earn. 'Our blueprint will deliver a tax code built for growth — the growth of jobs, the growth of paychecks and the growth of our economy,' said House Ways and Means Committee Chairman Kevin Brady." [Politico]
“We have a fairly high level of confidence that Mr. Trump will support a majority of these provisions," a House Republican leadership aide told Politico. Good to keep a fairly high level of anonymity for that one.
The tax policy blueprint suggests eliminating itemized deductions! Oh except for charitable contributions and mortgage interest -- those benefit the rich. And it would eliminate the estate tax. "As a political document, the plan seems tone-deaf. At a time when populist fever is running high, Ryan is proposing significant tax cuts for big business and investors, and much more modest tax cuts for middle-income households," the Tax Policy Center's Howard Gleckman said in a blog post.
Beto O'Rourke (D-Texas) joined the HuffPost Politics Podcast this week, talked about how Dems hope their gun sit-in changed something even though nothing changed.
RNC DELEGATES MAKING ONE LAST ANTI-TRUMP EFFORT - Kyle Cheney: "Anti-Trump delegates to the Republican National Convention are circulating the language of a plan that would free all delegates to vote for the candidate of their choosing at the convention, a move aimed at loosening Donald Trump’s grip on the party’s presidential nomination. A letter, sent to members of the convention rules committee by Colorado delegate Kendal Unruh, makes no mention of Trump but includes a new party rule that would permit any delegate to shrug off pledged support — usually, support dictated by the results of state primaries or caucuses — for any candidate by invoking a new 'conscience' clause." [Politico]
DELANEY DOWNER - It's dumb to freak out about stocks, but photos of sad brokers are just so compelling, right? And besides, this part of the newsletter is about stuff goin' DOWN. "U.S. stocks plunged at the open on Friday, with the Dow Jones average falling more than 500 points, after Britain’s vote to quit the European Union delivered the biggest blow to the global financial system since the 2008 financial crisis. Investors worried about the outlook for the world economy sought refuge in the dollar and other safe-harbor assets such as gold and U.S. Treasury bonds, while dumping riskier shares. The yield on the U.S. 10-year bond hit its lowest since 2012." [Reuters]
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DONALD TRUMP KEEPS EYE ON PRIZE - Sam Levine: "As the British pound plummeted to a 30-year low following Britons’ decision to leave the European Union, Donald Trump made clear that the economic turmoil was good for at least one person: Donald Trump. Trump arrived in Turnberry, Scotland on Friday to officially open his golf resort there and quickly embarrassed himself by tweeting that Scots were 'going wild' over Britain’s decision to leave the EU. The majority of Scotland had voted to remain. Asked about the uncertainty of the pound, Trump responded by pointing out how he stood to benefit from a weaker currency. It’s not the first time Trump has boasted about profiting off a weak economy. 'If the pound goes down, more people are coming to Turnberry, frankly,' he said at a press conference. 'For traveling and for other things, I think it very well could turn out to be positive.'" [HuffPost]
In addition to having signed a nondisclosure agreement that probably also contains a non-disparagement clause, newly-hired CNN commentator Corey Lewandowski also relies on Donald Trump to pay his legal bills. You suck, CNN.
Too little, too late: "That confusion over what Brexit might mean for the country's economy appears to have been reflected across the United Kingdom on Thursday. Google reported sharp upticks in searches not only related to the ballot measure but also about basic questions concerning the implications of the vote. At about 1 a.m. Eastern time, about eight hours after the polls closed, Google reported that searches for 'what happens if we leave the EU' had more than tripled...But despite the all-out attempts by either side to court voters, Britons were not only mystified by what would happen if they left the E.U.— many seemed not to even know what the European Union is." [WaPo]
Obama's statement: "The people of the United Kingdom have spoken, and we respect their decision,” Obama said in a statement. “The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in NATO remains a vital cornerstone of U.S. foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond.”
GOP RESPONDS TO BREXIT - "House Speaker Paul Ryan (R-Wis.) sounded a more cautious note, saying he respects the choice of the United Kingdom’s electorate but maintained Friday that its exit will have no impact on America’s 'special relationship' with the country...Like Ryan, New Hampshire Sen. Kelly Ayotte said she respects the U.K.’s decision, declining to paint with a broader brush. 'I think that each country, including our own, we should be able to decide our own destiny. So it was for the people of Great Britain to decide if they wanted to be part of the European Union,' she told NH1..But other Republicans appeared to align more with Trump’s celebratory tone than Ryan’s diplomatic approach. Former Alaska Gov. Sarah Palin congratulated the 'smart Brits' who knew it was time to leave the European Union, adding that now is America’s time...Alabama Sen. Jeff Sessions, the first U.S. senator to endorse the real estate mogul, applauded the 'wake-up call' and signaled that it was America’s turn." [Politico]
COMPROMISE GUN BILL INTRODUCED IN HOUSE - Lindsey McPherson: "Three House Republicans and one Democrat announced Friday the introduction of legislation to prevent individuals on certain terrorist watch lists from purchasing a gun but with an appeals process for denials. The bill, identical to a proposal Maine GOP Sen. Susan Collins offered in the upper chamber , is part of a bipartisan, bicameral attempt to find a legislative compromise on restricting terrorists' access to guns following the mass shooting in Orlando, Florida, this month that left 49 people dead and 53 others injured.The measure would impose restrictions on gun purchases by people on the no-fly and selectee lists but not the broader consolidated terrorist watch list." [Roll Call]
GOP MEGADONOR WANTS GOVERNMENT HANDOUT - Travis Walldon: "The NHL announced this week that its owners had approved an expansion franchise in Las Vegas, bringing professional sports to the city for the first time. Now, Republican mega-donor and casino mogul Sheldon Adelson wants to bring an NFL team to Vegas too — and he wants $750 million in taxpayer money to make it happen. The $750 million, financed with municipal bonds that would be paid off by hotel taxes, would go toward a new domed football stadium Adelson and a development group have proposed, according to Bloomberg. That figure would surpass the $620 million Indianapolis spent on a new stadium for the Colts, making it the biggest public contribution toward a stadium in American history, based on figures compiled last year by the Taxpayer Protection Alliance." [HuffPost]
BECAUSE YOU'VE READ THIS FAR - Here's the child of Donald Trump and Boris Johnson
STONEWALL INN TO GET ITS DUE - As if Manhattan nightlife spots weren't crowded enough. Kate Sheppard: "President Barack Obama will officially designate a new national monument at the site of the Stonewall uprising to honor the struggle for lesbian, gay, bisexual and transgender rights in the United States, the White House announced Friday. Patrons of the Stonewall Inn, a gay club in New York City, fought back against harassment and police raids in June 1969, sparking other riots and protests against the criminalization of homosexuality. Stonewall will be the first site in the National Park Service that recognizes the struggle for LGBT rights." [HuffPost]
- How to brush your teeth.
- Behold the glory of Japanese wrestling.
- Llama really enjoys leaf blowers.
@LOLGOP: Have you ever been so mad at the elites that you wanted to vote for a guy who suspended his campaign to visit his golf course?
@elisefoley: Regardless of your views on the Brexit, I think we can all agree that "Brexit" is a pretty nice little term for it, good job, everyone.
@aedwardslevy: Bye-Cameronal legislature
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