The Treasury Department failed to produce an economic analysis of the GOP tax bill before the House and Senate votes, despite the year-long promises from Treasury Secretary Steven Mnuchin. This resulted in the Inspector general launches inquiry into whether Treasury hid Republican tax bill analysis:
The Treasury Department’s inspector general has launched an inquiry into whether the department hid an analysis of the Republican tax bill — or even did one at all.
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Sen. Elizabeth Warren (D-Mass.) wrote to Treasury Inspector General Eric M. Thorson on Thursday asking for an inquiry after a New York Times article said members of the Treasury’s Office of Tax Policy, which would do such an analysis, said they were not working on one.
“Either the Treasury Department has used extensive taxpayer funds to conduct economic analyses that it refuses to release because those analyses would contradict the Treasury secretary’s claims, or Secretary Mnuchin has grossly misled the public about the extent of the Treasury Department’s analysis,” Warren wrote. “I am deeply concerned about either possibility.”
Rich Delmar, counsel to the inspector general, said Thursday the office had launched an inquiry and that it was a “top priority.”
Yesterday, Treasury released a one-page “analysis” that is a sick joke. Treasury Defends Tax Plan Cost With One-Page Analysis:
The Treasury Department released a one-page analysis of the nearly 500-page Senate tax bill on Monday that suggested the $1.5 trillion plan would more than pay for itself, assuming the economy grows much faster than any independent analysis of the bill has projected.
The Treasury acknowledged that its analysis was based on optimistic economic forecasts that assumed a host of policy changes yet to be enacted, including increased infrastructure spending, further loosening of business regulations and changes to welfare programs.
The analysis left many tax experts scratching their heads and prompted criticism that the Treasury was offering misleading data.
Posted in AZBlueMeanie, Budgets, Congress, Economics, Ethics, Legislation, Party Politics, President, Scandals, Taxes
Tagged consumer fraud, Fraud, Treasury
Remember those terrifying days in September 2008 after the housing bubble had collapsed, the world’s financial system teetered on collapse, and the economy was in a free-fall?
Yeah, Tea-Publicans in Congress hope you suffer from short-term memory loss and that you have forgotten all about those dark days.
The evil GOP bastards want to return to what they view as those halcyon days when the banksters of Wall Street ran wild in unregulated casino capitalism — speculation, fraud and theft — that nearly destroyed the world’s financial system. Not one bankster of Wall Street was ever convicted for the greatest financial crime in history, but the GOP is OK with that … the banksters are the “masters of the universe” whom the lickspittle servants of the GOP serve in Congress.
While You Were Paying Attention To Comey, House Republicans Voted For Everything Big Banks Want:
While much of the political world was watching the fallout from former FBI Director James Comey’s Senate testimony Thursday, House Republicans were jamming through a bill that would largely gut the financial regulations in Dodd-Frank, the landmark banking legislation passed in 2010 after the worst financial crisis since the Great Depression.
But instead of quietly sneaking the legislation through, Republicans were loudly touting the bill ― which passed, 233-186, with all Democrats and one Republican (Walter Jones of North Carolina) voting no ― as a major victory.
Posted in Arizona Congressional Delegation, AZBlueMeanie, Congress, Corruption, Crime, Economics, Ethics, GOP War On..., Legislation, Martha McSally, Party Politics, Scandals
Tagged banking, consumer protection, Fraud, Regulations