Bankers hit with bonus supertax have been awarded $16 billion in tax relief, the biggest share in at least half a century.
At stake is the billions in tax breaks that the wealthiest Americans will reap from a landmark tax deal that passed the Senate as expected on Sunday. They got their money through a system known as the “carried interest loophole,” which allows executives to pay far lower taxes than they really pay.
The deal also opens the door for Wall Street insiders to get back pay from the money they pocketed from the economy, though many don’t plan to.
More than 1,000 lobbyists for the바카라 wealthy and corporations, many of whom hold top level positions in top financial firms like Goldman Sachs and Citigroup, were given an advance copy of the legislation and a chance to brief the White House or Co강원출장샵ngress.
“The day we finally pass this great legislation with it’s historic tax reforms, millions and millions of Americans will enjoy those relief that come with it,” Clinton said as her speech ended in the Rose Garden. “But remember, the American people have got to know what the impact of the deal will be for you, for your family, for your business골드 카지노, and especially for your personal finances. The bottom line is if you’re on the hook for trillions of dollars in tax increases, the American people will know what that means.”
Clinton also repeated calls for a new Glass-Steagall law, a plan to separate commercial banks from investment banking, and a plan to protect consumers against high interest rates with a financial transaction tax.
The White House and Democratic lawmakers spent five hours discussing the deal that passed on Friday night with Clinton during a meeting of the Congressional Finance Committee. White House officials said the president made at least one final appearance at the House Financial Services Committee before the bill passed as a matter of principle — a visit that did not take place for hours on end. He will attend the Senate meeting for another four hours on Friday night.
Before the bill passed, Republicans accused Clinton of moving too quickly. But there was a growing sense that the Democrats were taking the debate more seriously, in part because they were trying to make clear that a financial reform bill was at stake. They accused Democrats of overrunning the White House.
“They spent a week in the Rose Garden doing nothing. This is all the Democrats have left, in my view. They could not do this. You could say they tried. They gave up trying,” said House Majority Whip Steve Scalise, R-La., a former Democrati