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Wealthy homeowners are just now finding out how Trump’s tax plan is killing them as they file

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Wealthy homeowners are only now realizing that the Republican tax cuts championed by President Donald Trump have actually increased their tax burden, Bloomberg reported Thursday.

“The Tax Cut and Jobs Act promised to, well, cut taxes. For many, it does,” Bloomberg explained. “But a new limit on the amount of state and local levies that can be deducted has costly and confounding implications for some, especially in high-income-tax, high-property-tax places like the New York City area.”

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The new law could cost 11 million taxpayers a cumulative $323 billion, the U.S. Treasury Inspector General for Tax Administration estimated in February.

“People with more money and thus more complicated tax returns tend to file later in the season, meaning that the triggering has just begun,” Bloomberg noted.

Read the full report.


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GOP leader McCarthy swats aside Fiona Hill’s national security testimony debunking his Ukraine conspiracy theory

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On Thursday, during one of the final scheduled impeachment hearings this week, National Security Council official Fiona Hill demolished President Donald Trump's conspiracy theory that Ukraine, rather than Russia, meddled in the 2016 election, calling it a "fictional narrative" and noting that it originated with the Kremlin itself.

But in conversation with reporters, House Minority Leader Kevin McCarthy (R-CA) flatly disbelieved Hill's testimony, and insisted he still held onto the theory.

House Minority Leader Kevin McCarthy told me that he was not going to lose any GOP votes during impeachment.

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Nicolle Wallace breaks down the impeachment moment ‘women will be talking about for years’

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MSNBC anchor Nicolle Wallace on Thursday highlighted one of the key moments from the impeachment inquiry testimony from Dr. Fiona Hill.

"Often when women show anger, it’s not fully appreciated. It’s often, you know, pushed onto emotional issues perhaps, or deflected on other people," Hill testified.

Here's Fiona Hill on why she thinks Sondland misunderstood her anger — and how women's anger is often viewed, more generally: "It's not fully appreciated. It's often pushed off onto emotional issues." pic.twitter.com/AsMR3A9InI

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Mulvaney lawyer denies Mick was ‘so heavily involved’ — despite his White House briefing room confession

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Acting White House chief of staff Mick Mulvaney was referenced multiple times during Dr. Fiona Hill's testimony Thursday, but Mulvaney's lawyer said he doesn't understand why.

"We have no idea why Ms. Hill believes Mr. Mulvaney was so heavily involved, especially in light of Ambassador Sondland’s contrary testimony," said Fox News reporter Chad Pergram, quoting a statement from Robert Driscoll.

https://twitter.com/ChadPergram/status/1197633921065930753

As former federal prosecutor Joyce Vance pointed out, Hill recalled during her testimony how angry she was about Sondland not briefing her. She said that after hearing his testimony Wednesday and learning he was briefing Mike Pompeo, John Bolton, Mulvaney and President Donald Trump. She then decided he was correct-they had separate missions and Sondland was on a domestic political errand.

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