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"We have a deal"
- Thread starter America 1st
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Mitt Romney can kiss my Native American ginger ass. Fvck him.
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He puts his head up the ass of anyone who he thinks will move him farther up the chain, or as I like to say it - deeper into the swamp.
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The jobs are shovel ready, but shovel production is at a standstill due to Dem COVID policy’s
AgEngDawg
Legendary
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Daggum Senator Warren, I didn't know you had such hatred for a fellow Senator.
AgEngDawg
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As someone in infrastructure, there are no real shovel ready jobs. The jobs will start moving in about 12 months.
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This.
They had to get this done now so that they might so a sliver of return before the midterms.
They know they're fucked and are doing everything possible to try to buy themselves breathing room.
Manchin and Sinema have completely derailed the libs by being semi fucking normal and American (although still Dims).
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Or like what happened in Obama’s stimulant shovel ready jobs… in atlanta they just moved up the repaving schedule.. well some roads where just repaved, they were ripped up and replaced while other roads were left all fucked up.
gotta love central planning.
btw the 12 months will line up perfectly for the midterms.
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Any benefits the Dims would have gotten with jobs and whatnot just got blown all to fuck by it being a bipartisan deal.
This is a big win for the GOP for a lot of reasons.
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Our infrastructure does badly need alot of work, but I'm sure this will only cost the average American money, line pockets of the politically connected, and will noticably improve infrastructure in any of our daily lives exactly zero.
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Dims got played.
thehill.com
GOP senators warn they could pull support for Biden deal
Republican senators are warning that they could drop their support for a bipartisan infrastructure framework amid growing GOP fury over President Biden’s plan to link it to a Democratic-only …
thehill.com
Republican senators are warning that they could drop their support for a bipartisan infrastructure framework amid growing GOP fury over President Biden's plan to link it to a Democratic-only bill.
GOP Sens. Jerry Moran (Kan.) and Lindsey Graham (R-S.C.) both signaled on Friday that their support, and eventual vote, for the bipartisan infrastructure deal - announced at the White House just yesterday - is tenuous if Democrats insist it has to move in tandem with a larger Democratic-only infrastructure plan.
"No deal by extortion! It was never suggested to me during these negotiations that President Biden was holding hostage the bipartisan infrastructure proposal unless a liberal reconciliation package was also passed," Graham tweeted on Friday.
An aide for Moran separately told Bloomberg News that the GOP senator was wavering on supporting the bipartisan package and wants assurances from Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) that they will oppose a reconciliation package that allows Democrats to pass a second, larger infrastructure bill on their own without GOP support.
A spokesperson for Moran didn't immediately respond to a question about the comments.
The remarks underscore how rocky the footing is for the bipartisan infrastructure package just a day after the core group of 10 Senate negotiators and Biden announced outside the White House that they had reached an agreement. The group of senators is expected to talk by phone on Friday afternoon about the path forward.
Sen. Bill Cassidy (R-La.), a member of the core group of negotiations, told reporters on Thursday that Biden's remarks had "turned everything upside down."
"We thought we had a commitment from the president ... but now he's making that conditional," Cassidy said.
Moran and Graham were not part of the group at the White House, but they were part of a larger group of 21 senators who have thrown their support behind the framework, including putting out a joint statement on Thursday after the White House meeting.
If Graham and Moran drop their support, that would knock the number of Republican senators supporting the framework down from 11 to nine, below the 10 Republicans needed in addition to every Democrat to defeat a 60-vote legislative filibuster.
It comes after Biden sparked broad anger among Republicans after he linked the timing of a bipartisan bill and the timing of a larger infrastructure package as he and congressional Democratic leadership faced pushback from progressives for moving the first without the other.
"I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I'm not signing it. It's in tandem," Biden told reporters at the White House.
The move quickly prompted high-profile GOP pushback, with Republicans accusing Biden and congressional Democrats of holding the package "hostage."
"Less than two hours after publicly commending our colleagues and actually endorsing the bipartisan agreement, the president took the extraordinary step of threatening to veto it. It was a tale of two press conferences," Senate Minority Leader Mitch McConnell (R-Ky.) said from the Senate floor on Thursday.
Several Republicans, including McConnell, have previously acknowledged that Democrats were likely to try to pass another infrastructure bill under reconciliation if they could get their 50 members lined up. But some Republicans have also hoped that they could pass a smaller bipartisan deal and that it would divide Democrats on passing the second bill.
And Republicans have been fuming since Thursday over the idea that the bipartisan bill should be held up until Democrats have their separate, larger bill, which would encompass Biden's $2.3 trillion jobs plan and a $1.8 trillion families plan, in hand.
Amid the GOP pushback, Biden spoke with Sinema, with the White House releasing an attention-getting readout of the call.
"The President reiterated strong support for both the Bipartisan Infrastructure bill and a reconciliation bill containing the American Families Plan moving forward on a two-track system, as he said yesterday when meeting the press with the bipartisan group of ten Senators. These are two critical priorities to the President that he wants to see advance through the legislative process as quickly as possible, pass as quickly as possible, and be presented to him for signing as quickly as possible," the White House readout said.
Democrats, however, have also dismissed the criticism, arguing that they and Biden have been upfront about their plan to use a two-track system on infrastructure, with one track being the bipartisan talks and the second being a larger Democratic-only bill.
"Anyone who thinks that McConnell wasn't planning to run this play as soon as there was a bipartisan deal doesn't work in the Senate," Sen. Brian Schatz (D-Hawaii) tweeted.
GOP Sens. Jerry Moran (Kan.) and Lindsey Graham (R-S.C.) both signaled on Friday that their support, and eventual vote, for the bipartisan infrastructure deal - announced at the White House just yesterday - is tenuous if Democrats insist it has to move in tandem with a larger Democratic-only infrastructure plan.
"No deal by extortion! It was never suggested to me during these negotiations that President Biden was holding hostage the bipartisan infrastructure proposal unless a liberal reconciliation package was also passed," Graham tweeted on Friday.
An aide for Moran separately told Bloomberg News that the GOP senator was wavering on supporting the bipartisan package and wants assurances from Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) that they will oppose a reconciliation package that allows Democrats to pass a second, larger infrastructure bill on their own without GOP support.
A spokesperson for Moran didn't immediately respond to a question about the comments.
The remarks underscore how rocky the footing is for the bipartisan infrastructure package just a day after the core group of 10 Senate negotiators and Biden announced outside the White House that they had reached an agreement. The group of senators is expected to talk by phone on Friday afternoon about the path forward.
Sen. Bill Cassidy (R-La.), a member of the core group of negotiations, told reporters on Thursday that Biden's remarks had "turned everything upside down."
"We thought we had a commitment from the president ... but now he's making that conditional," Cassidy said.
Moran and Graham were not part of the group at the White House, but they were part of a larger group of 21 senators who have thrown their support behind the framework, including putting out a joint statement on Thursday after the White House meeting.
If Graham and Moran drop their support, that would knock the number of Republican senators supporting the framework down from 11 to nine, below the 10 Republicans needed in addition to every Democrat to defeat a 60-vote legislative filibuster.
It comes after Biden sparked broad anger among Republicans after he linked the timing of a bipartisan bill and the timing of a larger infrastructure package as he and congressional Democratic leadership faced pushback from progressives for moving the first without the other.
"I expect that in the coming months this summer, before the fiscal year is over, that we will have voted on this bill, the infrastructure bill, as well as voted on the budget resolution. But if only one comes to me, this is the only one that comes to me, I'm not signing it. It's in tandem," Biden told reporters at the White House.
The move quickly prompted high-profile GOP pushback, with Republicans accusing Biden and congressional Democrats of holding the package "hostage."
"Less than two hours after publicly commending our colleagues and actually endorsing the bipartisan agreement, the president took the extraordinary step of threatening to veto it. It was a tale of two press conferences," Senate Minority Leader Mitch McConnell (R-Ky.) said from the Senate floor on Thursday.
Several Republicans, including McConnell, have previously acknowledged that Democrats were likely to try to pass another infrastructure bill under reconciliation if they could get their 50 members lined up. But some Republicans have also hoped that they could pass a smaller bipartisan deal and that it would divide Democrats on passing the second bill.
And Republicans have been fuming since Thursday over the idea that the bipartisan bill should be held up until Democrats have their separate, larger bill, which would encompass Biden's $2.3 trillion jobs plan and a $1.8 trillion families plan, in hand.
Amid the GOP pushback, Biden spoke with Sinema, with the White House releasing an attention-getting readout of the call.
"The President reiterated strong support for both the Bipartisan Infrastructure bill and a reconciliation bill containing the American Families Plan moving forward on a two-track system, as he said yesterday when meeting the press with the bipartisan group of ten Senators. These are two critical priorities to the President that he wants to see advance through the legislative process as quickly as possible, pass as quickly as possible, and be presented to him for signing as quickly as possible," the White House readout said.
Democrats, however, have also dismissed the criticism, arguing that they and Biden have been upfront about their plan to use a two-track system on infrastructure, with one track being the bipartisan talks and the second being a larger Democratic-only bill.
"Anyone who thinks that McConnell wasn't planning to run this play as soon as there was a bipartisan deal doesn't work in the Senate," Sen. Brian Schatz (D-Hawaii) tweeted.
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Skinnyman
Poster
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Damn im curious AF how you look H-Hawk!
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????????
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A small win in the infrastructure bill.
www.politico.com
Cryptocurrency industry fears big tax hit in infrastructure bill
Lawmakers want people facilitating trades in Bitcoin and other digital assets to be subject to reporting rules similar to those governing the sale of stocks and other securities.
www.politico.com
Buried in the still-unreleased bipartisan infrastructure package is a sweeping crackdown on cryptocurrency transactions that could generate significant tax revenue for the government and major anxiety in a financial technology industry that thrived during the coronavirus pandemic.
Lawmakers want people facilitating trades in Bitcoin and other digital assets to be subject to reporting rules similar to those governing the sale of stocks and other securities: Brokers would be required to report things like how much people paid for cryptocurrencies.
The proposal is alarming many in the industry, who are expressing fear of being ambushed with a host of new rules they could be stuck with for years.
They see the new reporting requirements as potentially damaging the economic viability of cryptocurrency markets, which have seen a rapid expansion in new users during the pandemic.
Given how much new tax revenue could be at stake and the amount of progress that has been made on the bill, many doubt the language will be eliminated, so they are focused on efforts to make what they see as improvements.
CONGRESS
BY MARIANNE LEVINE AND BURGESS EVERETT
Industry groups including the Blockchain Association, Coin Center and the Association for Digital Asset Markets outlined their opposition to the requirements in statements on Thursday, taking particular note of provisions in the draft version that could lead to targeting of individual users.
Perianne Boring, founder and president of the Chamber of Digital Commerce, said in an interview on Friday that her group proposed amending the bill language to “tighten the definition” of what constitutes brokering activity to exclude artificial intelligence platforms or business transmitters.
“The idea of shoving this into a congressional mandate or as a as a revenue-generator for something completely unrelated, is not the preferred way or the right way to get the best policy,” Boring said, noting that ADAM and others have repeatedly asked for more guidance from the IRS on how to enforce existing laws.
ADAM's CEO, Michelle Bond, said “it is critically important for the industry to be at the table to provide technical assistance for proposals of this magnitude."
Tax compliance is considered a major problem with cryptocurrencies, and lawmakers are hungry for the $28 billion their proposals are said to raise to help finance their big-ticket spending plans.
The issue is complicated, potentially affecting banking and securities law. It also crosses jurisdictions in Congress, from the tax committees to banking panels.
The move to boost cryptocurrency reporting requirements comes after Republicans killed a plan to boost IRS enforcement by greatly expanding the agency’s budget — something Democrats are expected to tackle in a separate tax-reconciliation package.
IRS Commissioner Charles Rettig has repeatedly asked lawmakers for more power to improve tax compliance in the cryptocurrency industry, where many market participants are unaware of their obligations or are outright cheating.
Though industry officials vow to fight the proposals, they’ll likely face an uphill battle.
The plan is headed for a quick vote in the Senate, and lawmakers will be loath to blow a hole in the infrastructure proposal after struggling for weeks over how to defray its cost of the plan.
The fact that few lawmakers understand cryptocurrencies and their relationship to taxes means that any lobbying effort will require a major educational campaign. Congress’s most expert member on the issue, Sen. Rob Portman (R-Ohio), happens to be one of the main authors of the broader infrastructure package.
Much of the proposal is designed to replicate the reporting regime imposed when people sell stocks in companies like Apple or Ford.
Brokers would be required to report people’s so-called basis, or the price at which they bought cryptocurrencies, as well as their gross proceeds — which would make calculating their tax bills much easier. Studies have long shown that when people know someone else is independently reporting their income to the IRS, they are far less likely to skirt tax obligations.
Lawmakers also want to include anti-money laundering provisions sought by the Treasury Department that would require transactions worth more than $10,000 to be reported to the government.
Behind the scenes, lawmakers have debated language that would expand the definition of broker to include decentralized exchanges, without traditional middle men, and peer-to-peer transactions, though some say the language of the proposal is broad enough to sweep in others like cryptocurrency miners.
“The extension of the definition of ‘broker’ is a surprise,” said Lisa Zarlenga, a partner at the firm Steptoe & Johnson LLP who works on cryptocurrency tax issues.
Another source of contention: provisions that could potentially go beyond cryptocurrencies to other types of digital assets like non-fungible tokens.
The Treasury Department had already been working on rules to tighten reporting requirements on brokers like Coinbase, but having Congress’s imprimatur would help head off any potential legal challenges to the agency’s authority to issue new regulations.
Industry officials are vowing a fight.
Blockchain Association Executive Director Kristin Smith expressed frustration with the last-minute scramble to write the legislation, saying it could impose new requirements on “all sorts of different actors in the ecosystem.”
“We think it would have the effect of potentially driving a lot of these actors and businesses and individuals involved in crypto overseas and really stifling the innovation in this space here in the United States,” she said.
Though the plan is said to raise $28 billion, that’s highly uncertain and the estimate immediately raised some eyebrows.
While Congress’s budget forecasters can predict with confidence the cost of tax changes that are similar to ones lawmakers have made before — such as expanding the child tax credit — they invariably have a harder time for more novel policy proposals.
Cryptocurrencies present a particularly difficult challenge because their valuations can fluctuate wildly, it’s hard to know how many people are buying and selling the assets, and forecasters have to make guesstimates about the tax rates they likely pay.
Lawmakers want people facilitating trades in Bitcoin and other digital assets to be subject to reporting rules similar to those governing the sale of stocks and other securities: Brokers would be required to report things like how much people paid for cryptocurrencies.
The proposal is alarming many in the industry, who are expressing fear of being ambushed with a host of new rules they could be stuck with for years.
They see the new reporting requirements as potentially damaging the economic viability of cryptocurrency markets, which have seen a rapid expansion in new users during the pandemic.
Given how much new tax revenue could be at stake and the amount of progress that has been made on the bill, many doubt the language will be eliminated, so they are focused on efforts to make what they see as improvements.
CONGRESS
Bipartisan infrastructure deal sails through first Senate vote
BY MARIANNE LEVINE AND BURGESS EVERETT
Industry groups including the Blockchain Association, Coin Center and the Association for Digital Asset Markets outlined their opposition to the requirements in statements on Thursday, taking particular note of provisions in the draft version that could lead to targeting of individual users.
Perianne Boring, founder and president of the Chamber of Digital Commerce, said in an interview on Friday that her group proposed amending the bill language to “tighten the definition” of what constitutes brokering activity to exclude artificial intelligence platforms or business transmitters.
“The idea of shoving this into a congressional mandate or as a as a revenue-generator for something completely unrelated, is not the preferred way or the right way to get the best policy,” Boring said, noting that ADAM and others have repeatedly asked for more guidance from the IRS on how to enforce existing laws.
ADAM's CEO, Michelle Bond, said “it is critically important for the industry to be at the table to provide technical assistance for proposals of this magnitude."
Tax compliance is considered a major problem with cryptocurrencies, and lawmakers are hungry for the $28 billion their proposals are said to raise to help finance their big-ticket spending plans.
The issue is complicated, potentially affecting banking and securities law. It also crosses jurisdictions in Congress, from the tax committees to banking panels.
The move to boost cryptocurrency reporting requirements comes after Republicans killed a plan to boost IRS enforcement by greatly expanding the agency’s budget — something Democrats are expected to tackle in a separate tax-reconciliation package.
IRS Commissioner Charles Rettig has repeatedly asked lawmakers for more power to improve tax compliance in the cryptocurrency industry, where many market participants are unaware of their obligations or are outright cheating.
Though industry officials vow to fight the proposals, they’ll likely face an uphill battle.
The plan is headed for a quick vote in the Senate, and lawmakers will be loath to blow a hole in the infrastructure proposal after struggling for weeks over how to defray its cost of the plan.
The fact that few lawmakers understand cryptocurrencies and their relationship to taxes means that any lobbying effort will require a major educational campaign. Congress’s most expert member on the issue, Sen. Rob Portman (R-Ohio), happens to be one of the main authors of the broader infrastructure package.
Much of the proposal is designed to replicate the reporting regime imposed when people sell stocks in companies like Apple or Ford.
Brokers would be required to report people’s so-called basis, or the price at which they bought cryptocurrencies, as well as their gross proceeds — which would make calculating their tax bills much easier. Studies have long shown that when people know someone else is independently reporting their income to the IRS, they are far less likely to skirt tax obligations.
Lawmakers also want to include anti-money laundering provisions sought by the Treasury Department that would require transactions worth more than $10,000 to be reported to the government.
Behind the scenes, lawmakers have debated language that would expand the definition of broker to include decentralized exchanges, without traditional middle men, and peer-to-peer transactions, though some say the language of the proposal is broad enough to sweep in others like cryptocurrency miners.
“The extension of the definition of ‘broker’ is a surprise,” said Lisa Zarlenga, a partner at the firm Steptoe & Johnson LLP who works on cryptocurrency tax issues.
Another source of contention: provisions that could potentially go beyond cryptocurrencies to other types of digital assets like non-fungible tokens.
The Treasury Department had already been working on rules to tighten reporting requirements on brokers like Coinbase, but having Congress’s imprimatur would help head off any potential legal challenges to the agency’s authority to issue new regulations.
Industry officials are vowing a fight.
Blockchain Association Executive Director Kristin Smith expressed frustration with the last-minute scramble to write the legislation, saying it could impose new requirements on “all sorts of different actors in the ecosystem.”
“We think it would have the effect of potentially driving a lot of these actors and businesses and individuals involved in crypto overseas and really stifling the innovation in this space here in the United States,” she said.
Though the plan is said to raise $28 billion, that’s highly uncertain and the estimate immediately raised some eyebrows.
While Congress’s budget forecasters can predict with confidence the cost of tax changes that are similar to ones lawmakers have made before — such as expanding the child tax credit — they invariably have a harder time for more novel policy proposals.
Cryptocurrencies present a particularly difficult challenge because their valuations can fluctuate wildly, it’s hard to know how many people are buying and selling the assets, and forecasters have to make guesstimates about the tax rates they likely pay.
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Looks like Igor banged the onset help of Young Frankenstein, Good googily woogily she is ugly. SKOL!
Sikness23245
Elite
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"Sinema bucking her own party leadership serves as the latest instance of her emulating the late Sen. John McCain (R-AZ), who she calls her “personal hero.”
McCain had infamously bucked the GOP by voting against the repeal of the Affordable Care Act (ACA), or Obamacare.
The Arizona Democrat mimicked McCain’s infamous thumbs down that killed Republicans’ years-long effort to repeal and replace Obamacare when she voted against a minimum wage bill."
Things that make you go, "hmmmm...".
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She will be a strong candidate for POTUS.
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