“I want you to take good care of all the furniture and ornaments in the house, for I want to find everything just as it is now when we come back again four years from today.” — Frances Cleveland, the first lady to President Grover Cleveland, to the White House staff upon departing the premise after Cleveland lost his 1888 reelection (they returned four years later)

“We’re going to take back the Senate, take back the House, we’re going to take back the White House, and sooner than you think. It’s going to be really something special.” — President Donald…

The tax debate has been on the backburner as bipartisan infrastructure negotiations have sidelined any tax increases. But that will soon change when Democrats move towards budget reconciliation.

President Biden and Democratic leadership in Congress are getting ready to start the budget reconciliation process in an attempt to pass as much of the American Jobs Plan (AJP) and American Families Plan (AFP) as possible. Along with the $4+ trillion of spending from the AJP and AFP, Biden included $3+ trillion in tax increases. These tax increases were further detailed in the Treasury green book released last month. Biden and progressives…

With Memorial Day kicking off the unofficial start of summer, “Infrastructure Week” is in full swing this month.

When everything is being categorized as “infrastructure” these days, it’s easy to get confused about what exactly is being negotiated. There are three negotiations occurring on the infrastructure front. This includes bipartisan talks on a broader infrastructure deal, bipartisan talks on surface transportation authorization, and Democratic talks on the American Jobs Plan (AJP) and American Families Plan (AFP). …

There are as many deadlines in DC as there are screaming cicadas. President Biden said he wants to see “real progress” on infrastructure by Memorial Day, Senator Shelley Moore Capito (R-WV) said the state of bipartisan infrastructure talks will come to a head by Memorial Day, and House Speaker Nancy Pelosi (D-CA) has indicated she wants to pass an infrastructure bill out of the House by July 4th.

At her weekly presser last week, Pelosi declared, “I’m not a timetable person.” She was referring to the timing for passing legislation to create a January 6th commission. But the prospects of…

Inflation hawks are having their first moment in decades. The latest jobs report showing a monthly gain of 266,000 jobs compared to a median estimate of one million jobs was the largest forecast miss to the downside on record. While predictions were for an annual increase in the consumer price index (CPI) of 3.6 percent, the April number ended up being 4.2 percent, the highest annual spike since 2008. The data today are not indicative where the economy is heading tomorrow. Federal Reserve Vice Chair Richard Clarida said, “This was an unprecedented shock, it led to an unprecedented collapse, and…

What’s the deal with carried interest? President Biden wants to eliminate it. President Trump wanted to eliminate it. President Obama wanted to eliminate it. Yet, it’s still around.

Usually the “20” of the Two and Twenty compensation system for alternative asset managers, it’s investment returns above a certain hurdle rate that goes to the general partners (GPs) of these funds. Instead of being taxed as ordinary income, which for most GPs would be the top marginal rate of 37 percent, it’s taxed at the top capital gains rate of 20 percent. The term “carried interest” dates back centuries ago when…

Prices are rising across the country, sparking concerns of spiraling inflation. However, when it comes to talking about infrastructure in DC, all it costs is giving one’s two cents.

According to NPR, the White House has reached out to more than 500 lawmakers and staff about infrastructure. Already this week, President Biden talked on separate occasions at the White House with Senate Environment and Public Works (EPW) Committee Chair Tom Carper (D-DE), Senator Joe Manchin (D-WV), and Senator Kyrsten Sinema (D-AZ). Today, Biden is talking with House Speaker Nancy Pelosi (D-CA), House Minority Leader Kevin McCarthy (R-CA), Senate Majority Leader…

Just like the Brood X cicadas getting their wings after 17 years underground, President Biden again found his deficit hawk wings. When asked if he’d compromise in raising the corporate tax rate to 25 percent instead of 28 percent, Biden this week said, “I’m willing to compromise but I’m not willing to not pay for what we’re talking about. I’m not willing to deficit spend. They already have us $2 trillion in the whole.” The $2 trillion Biden was referring to was the deficit from the Tax Cuts and Jobs Act (TCJA) Republicans passed in 2017. Biden yesterday then said…

This isn’t your father’s Republican Party. It isn’t Liz Cheney’s father’s party either. Dick Cheney held the third-ranking leadership position of House Republican conference chair in charge of party messaging back in 1987, a position that catapulted him to House minority whip, Defense secretary, vice president, and the epitome of Republican power for decades. That catapult has backfired for the current chair, Rep. Liz Cheney (R-WY). Her vocal challenge of President Trump’s future in the party and his continuing attacks on the 2020 elections has left her persona non grata. “I’ve had it with her. …

A fictitious 16th-century knight-errant and a 21st-century politician have quite a bit in common.

The first part of Don Quixote in the 21st century has already been written. Its cast of characters were in the Republican Party. America experienced the ultimate Don who fought imaginary foes ranging from Kenyan-born presidents, murderous caravans coming to the US southern border, and a deep state intent on defeating the aggrieved Queens man. Republicans first belittled Trump’s delusions, but then accommodated him, beseeched his approval, and even partook in his fights, culminating in one of the gravest windmill attacks at the US Capitol.

America…

Ben Koltun

Made In Chicago | Policy Research @ Beacon Policy Advisors | Cookie Monster loosely based off of my life

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store