Canfield Press <span>Blog</span>

Canfield Press Blog




Senate Tax Bill Would "Batter" Homeownership

“On behalf of the 1.3 million members of the National Association of REALTORS® (NAR), I want to express the Association’s strong opposition to ‘The Tax Cuts and Jobs Act,’ which the Senate Committee on Finance approved last week.  …[We] believe this bill …would reverse a century’s worth of tax policy that has recognized the value of homeownership to American middle-class wealth creation... [T]his tax reform effort is a serious step in the wrong direction. The overall effect of this legislation would be to batter homeownership... [and raise] taxes directly on millions of homeowners.”


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Posted: November 21st, 2017 | Permalink

Tax Reform Progressing at an Aggressive Pace

“On November 2, House Republicans released their tax reform bill titled, ‘Tax Cuts and Jobs Act,’ wrote Michael Best Strategies’ Denise Bode and Anne Canfield. “This past week, on November 16, the House of Representatives passed ‘Tax Cuts and Jobs Act’ (H.R. 1) as approved by Ways and Means Committee ...227 to 205. On November 16, the Senate Finance Committee passed their version of the ‘Tax Cut and New Jobs’ ...14-12. Next week, the Senate Budget Committee will review the Senate Finance Committee passed bill to ensure that it complies with the requirements set forth in the FY2018 Budget Resolution."

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Posted: November 20th, 2017 | Permalink

When the United States Sneezes...

“One approach [to monetary policy] is to plan on relying on [the Fed’s] unconventional policy tools, that is, follow the same playbook as during this past decade and hope that suffices [to handle a recession],” said John Williams, president of the San Francisco Fed. “A second is to find ways to make the lower bound more negative, giving conventional monetary policy more room to maneuver. A third is to raise the inflation target. And fourth is to modify inflation targeting by moving to a price level or nominal income target.”


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Posted: November 17th, 2017 | Permalink

Delaying Tax Cuts Is Ballooning the Deficit

"Trust politicians to do the opposite of what they should do," wrote Scott Grannis, former chief economist at Western Asset Management. "The overriding problem that is keeping Congress from achieving true, growth-friendly tax reform is concern that lower tax rates would mean a larger budget deficit. Consequently, politicians are trying to 'pay for' lowering some taxes by raising others and/or reducing allowable deductions. Instead, they should be focusing on the urgent need to cut taxes in order to reduce the deficit and strengthen the economy."

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Posted: November 16th, 2017 | Permalink

Central banks Are Trialing Blockchain

Approximately 67% of central banks and 86% of other public sector institutions are directly experimenting with digital ledger technology protocols, according to the first Global Blockchain Benchmarking Study by the Cambridge Centre for Alternative Finance. “This is the first major empirical DLT study focused on enterprise and the public sector,” said Dr. Garrick Hileman. “The over 100-page report contains new, non-publicly available data on what is actually happening right now in DLT areas such as targeted use cases, emerging revenue models, the timing of deployment, and remaining challenges.”

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Posted: November 15th, 2017 | Permalink

Tax Reform?

“We have some takeaways,” wrote Cumberland Advisors’ David Kotoch. “First, the tax code will not be made simpler by this bill, and the implementing of a postcard tax form is a political gesture that means nothing. …My conclusion is that there will be a tax reform bill. The Republican leadership must have one and will compromise to get it, no matter what they have to exchange for the necessary votes. I also believe that Trump will sign any tax reform bill that makes its way to his desk. He is desperate for a victory. He will claim all sorts of wonderful political gains. Such is the nature of political hyperbole.”

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Posted: November 14th, 2017 | Permalink