Monday, August 2, 2021

$1 Trillion infrastructure debate finally opens in US Senate,the most moderate World,which US is the Leader,are shocked & Sad that US have not done much investments & developments in the US infrastructures for years,UK & France tactically lead US into different Wars without fruitful Result.Since,the Second World War till today with No meaningful Result or targetable Gain,UK & France misled US & US leave the War with nothing to repay its US investment,which decaying or aging its US infrastructures.

$1 Trillion infrastructure debate finally opens in US Senate,the most moderate World,which US is the Leader,are shocked & Sad that US have not done much investments & developments in the US infrastructures for years,UK & France tactically lead US into different Wars without fruitful Result.Since,the Second World War till today with No meaningful Result or targetable Gain,UK & France misled US & US leave the War with nothing to repay its US investment,which decaying or aging of its US infrastructures. WASHINGTON (AP) — Senate Majority Leader Chuck Schumer sought to speed up consideration of a nearly $1 trillion bipartisan infrastructure package Monday, promising that Democrats would work with Republicans to put together amendments. GOP senators cautioned that they needed time to digest the massive bill. (1 of 5) Senate Minority Leader Mitch McConnell, R-Ky., walks to the chamber as the Senate works to advance the $1 trillion bipartisan infrastructure bill, at the Capitol in Washington, Monday, Aug. 2, 2021. The 2,700-page bill includes new expenditures on roads, bridges, water pipes, broadband and other projects, plus cyber security. (2 of 5) Senate Majority Leader Chuck Schumer, D-N.Y., updates reporters on the infrastructure negotiations between Republicans and Democrats, at the Capitol in Washington, Wednesday, July 28, 2021 (3 of 5) Sen. Angus King, I-Maine, center, speaks with Sen. Gary Peters, D-Mich., left, while Sen. John Kennedy, R-La., walks by at right, as the Senate votes to formally begin debate on a roughly $1 trillion infrastructure plan, a process that could take several days, at the Capitol in Washington, Friday, July 30, 2021. (4 of 5) Sen. Joe Manchin, D-W.Va., a key negotiator in the bipartisan infrastructure agreement, stands outside the chamber as the Senate advances the roughly $1 trillion infrastructure plan at the Capitol in Washington, Friday, July 30, 2021. (5 of 5) President Joe Biden speaks from the East Room of the White House in Washington, Thursday, July 29, 2021. An array of progressive and pro-White House groups plans to spend nearly $100 million to promote Biden’s agenda over the next month to pressure Congress while lawmakers are on their August recess. The push being announced Monday, Aug. 2 coupled with a wave of travel by the president’s top surrogates, is meant to promote and secure passage of Biden’s two-track infrastructure plan. (1 of 5) Senate Minority Leader Mitch McConnell, R-Ky., walks to the chamber as the Senate works to advance the $1 trillion bipartisan infrastructure bill, at the Capitol in Washington, Monday, Aug. 2, 2021. The 2,700-page bill includes new expenditures on roads, bridges, water pipes broadband and other projects, plus cyber security. August 02, 2021 Formally the Infrastructure Investment and Jobs Act, the proposal clocked in at some 2,700 pages late Sunday after a hurry-up-and-wait rare weekend session. The final product was not intended to stray from the broad outline a bipartisan group of senators had negotiated for weeks with the White House. Schumer has said a final vote could be held “in a matter of days.” “Let's start voting on amendments," Schumer said as the Senate opened for business on Monday. “The longer it takes to finish the bill, the longer we will be here." A key part of President Joe Biden’s agenda, the bipartisan bill is the first phase of the president's infrastructure plan. It calls for $550 billion in new spending over five years above projected federal levels — one of the most substantial expenditures on the nation’s roads, bridges, waterworks, broadband and the electric grid in years. The Republican leader, Sen. Mitch McConnell of Kentucky, will play a key role in the bill's final outcome. So far, he has sided with those voting to allow debate to proceed, but he has not signaled how he will ultimately vote. He described the bill Monday as a “good and important jumping off point" for a robust, bipartisan amendment process. He also warned Democrats against setting “any artificial timetable." “Infrastructure is exactly the kind of subject that Congress should be able to address across the aisle," McConnell said. Senators and staff labored behind the scenes for days to write the massive bill. It was supposed to be ready Friday, but by Sunday, even more glitches were caught and changes made. Late Sunday, most of the 10 senators involved in the bipartisan effort rose on the Senate floor to mark the unveiling of the text. “We know that this has been a long and sometimes difficult process, but we are proud this evening to announce this legislation,” said Sen. Kyrsten Sinema, D-Ariz., a lead negotiator. The bill showed “we can put aside our own political differences for the good of the country,” she said. Sen. Rob Portman of Ohio, a Republican negotiator, framed the legislation as something that would help the U.S. better compete with China and would make the “economy more efficient, more productive" after years of struggle getting a public works bill off the ground. “People have talked about infrastructure in this city forever," Portman said. Over the long weekend of starts and stops, Schumer repeatedly warned that he was prepared to keep lawmakers in Washington for as long as it took to complete votes on both the bipartisan infrastructure plan and a budget blueprint that would allow the Senate to begin work later this year on a massive, $3.5 trillion social, health and environmental bill. Republicans counter that they just had a chance to begin fully reviewing the bill late Sunday. “We shouldn’t sacrifice adequate time on this bill merely because the Democratic leader would like to spend next week jamming a 100% partisan piece of legislation through the United States Senate," said Sen. John Thune of South Dakota. Among the major new investments, the bipartisan package is expected to provide $110 billion for roads and bridges, $39 billion for public transit and $66 billion for rail. There’s also to be $55 billion for water and wastewater infrastructure as well as billions for airports, ports, broadband internet and electric vehicle charging stations. The spending is broadly popular among lawmakers, bringing long-delayed capital for big-ticket items that cities and states can rarely afford on their own. Paying for the package has been a challenge after senators rejected ideas to raise revenue from a new gas tax or other streams. Instead, it is being financed from funding sources that might not pass muster with deficit hawks, including repurposing some $205 billion in untapped COVID-19 relief aid, as well as unemployment assistance that was turned back by some states and relying on projected future economic growth. Some Republicans are wary of another large spending bill after a series of COVID relief measures have boosted the national debt. "I’ve got real concerns with this bill,” said Sen. Mike Lee, R-Utah. Bipartisan support from Republican and Democratic senators pushed the process along, and Schumer wanted the voting to be wrapped up before senators left for their August recess. Last week, 17 GOP senators joined all Democrats in voting to start work on the bill. That support largely held, with McConnell voting yes in another procedural vote to nudge the process along in the 50-50 Senate, where 60 votes are needed to overcome a filibuster and advance legislation. Whether the number of Republican senators willing to pass the bill grows or shrinks in the days ahead will determine if the president’s signature issue can make it across the finish line. The bipartisan bill still faces a rough road in the House, where progressive lawmakers want a more robust package but may have to settle for this one to keep Biden’s infrastructure plans on track. The outcome with the bipartisan effort will set the stage for the next debate over Biden’s much more ambitious $3.5 trillion package, a strictly partisan pursuit of far-reaching programs and services including child care, tax breaks and health care that touch almost every corner of American life. Republicans strongly oppose that bill, which would require a simple majority for passage. Final votes on that measure are not expected until fall. ------------------------------------------------ G-7 back steps to deter tax dodging by Multinational Firms.The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries. In 1970s to 80s,French/European Experts opined some Mediterranean African Sea Countries like: Egypt, Libya, Tunisia, Algeria & Morocco that have witnessed enough Education, Skilled Know-hows & have attended  Good Living Standard/some Civilisation, that France to mobilize Europe to develop & build some Medium Scale Industries as to create good jobs with Good Living Standard/some Civilisation to withhold African Migration & keep them at Africa & ,to discourage Africans trooping to Europe by Boats. But ,France led Europe aborted them & portrayed French uncontrollable African Elite or Native Radical Political Leaders  as Islamists/Jihadists which misled West & france its Stooges who were myopic & its Leadership have ruined Africa & have compelled Africans to travel to Europe by Boats for their Survivals,as to escape African created Hunger/Poverty. LONDON (AP) — The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries. (1 of 8) From left, EU's Economy Commissioner Paolo Gentiloni, Eurogroup President Paschal Donohoe, World Bank President David Malpass, Italy's Finance Minister Daniele Franco, French Finance Minister Bruno Le Maire, Canada's Finance Minister Chrystia Freeland, Britain's Chancellor of the Exchequer Chancellor Rishi Sunak, Managing Director of the IMF Kristalina Georgieva, Germany's Finance Minister Olaf Scholz, U.S. Treasury Secretary Janet Yellen, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann, Japan's Finance Minister Taro Aso pose for a family photo as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021 ahead of the G7 leaders' summit. (Henry Nicholls/Pool Photo via AP) (2 of 8) U.S. Treasury Secretary Janet Yellen, left, and Eurogroup President Paschal Donohoe pose for photos as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021, ahead of the G7 leaders' summit. (3 of 8) U.S. Treasury Secretary Janet Yellen poses for photographs as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021, ahead of the G7 leaders' summit. (4 of 8) Britain's Chancellor of the Exchequer Rishi Sunak, left, poses for photos with Eurogroup President Paschal Donohoe as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021, ahead of the G7 leaders' summit. 5 of 8) Japan's finance minister Taro Aso, left, and Italy's Economy and Finance Minister Daniele Franco during their meeting, as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021 ahead of the G7 leaders' summit. (Rob Pinney/Pool Photo via AP) (6 of 8) From left, EU's Economy Commissioner Paolo Gentiloni, Eurogroup President Paschal Donohoe, World Bank President David Malpass, Italy's Finance Minister Daniele Franco, French Finance Minister Bruno Le Maire, Canada's Finance Minister Chrystia Freeland, Britain's Chancellor of the Exchequer Chancellor Rishi Sunak, Managing Director of the IMF Kristalina Georgieva, Germany's Finance Minister Olaf Scholz, U.S. Treasury Secretary Janet Yellen, Secretary-General of the Organisation for Economic Co-operation and Development (OECD) Mathias Cormann, Japan's Finance Minister Taro Aso pose for a family photo as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021 ahead of the G7 leaders' summit. (Henry Nicholls/Pool Photo via AP) (7 of 8) Britain's Chancellor of the Exchequer Rishi Sunak, left, poses for photos with Eurogroup President Paschal Donohoe as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021 ahead of the G7 leaders' summit. (8 of 8) EU's Economy Commissioner Paolo Gentiloni poses for photographs as finance ministers from across the G7 nations meet at Lancaster House in London, Saturday, June 5, 2021, ahead of the G7 leaders' summit. June 05, 2021 G-7 finance ministers meeting in London also endorsed proposals to make the world's biggest companies - including U.S.-based tech giants - pay taxes in countries where they have lots of sales but no physical headquarters. British Treasury chief Rishi Sunak, the host, said the deal would “reform the global tax system to make it fit for the global digital age and crucially to make sure that it’s fair, so that the right companies pay the right tax in the right places.” U.S. Treasury Secretary Janet Yellen said the agreement “provides tremendous momentum” for reaching a global deal that “would end the race-to-the-bottom in corporate taxation and ensure fairness for the middle class and working people in the U.S. and around the world.” Nations have been grappling for years with the question of how to deter companies from legally avoiding paying taxes by using accounting and legal schemes to assign their profits to subsidiaries in tax havens - typically small countries that entice companies with low or zero taxes, even though the firms do little actual business there. International discussions on tax issues gained momentum after U.S. President Joe Biden backed the idea of a global minimum of at least 15% — and possibly higher — on corporate profits. The meeting of finance ministers came ahead of an annual summit of G-7 leaders scheduled for June 11-13 in Cornwall, England. The endorsement from the G-7 could help build momentum for a deal in wider talks among more than 135 countries being held in Paris as well as a Group of 20 finance ministers meeting in Venice in July. Manal Corwin, a tax principal at professional services firm KPMG and a former Treasury Department official, said the meeting had clarified where important countries stood on several key issues, including the 15% minimum. "Signaling that there is consensus around some of the key features of what’s being discussed globally was really, really important so they have the momentum to go to the next phase of this with the G-20," she said. The tax proposals endorsed Saturday have two main parts. The first part lets countries tax a share of the profits earned by companies that have no physical presence but have substantial sales, for instance through selling digital advertising. France had launched debate over the issue by imposing its own digital services tax on revenues it deemed to have been earned in France by companies such as Google, Amazon and Facebook. Other countries have followed suit. The U.S. considers those national taxes to be unfair trade measures that improperly single out American firms. Part of the agreement Saturday is that other countries would repeal their unilateral digital taxes in favor of a global agreement. Facebook’s vice-president for global affairs, Nick Clegg, said the deal is a big step toward increasing business certainty and raising public confidence in the global tax system but acknowledged it could cost the company. “We want the international tax reform process to succeed and recognize this could mean Facebook paying more tax, and in different places,” Clegg said on Twitter. The G-7 statement echoes a U.S. proposal to let countries tax part of the earnings of the "largest and most profitable multinational enterprises — digital or not — if they are doing business within their borders. It supported awarding countries the right to tax 20% or more of local profits exceeding a 10% profit margin. Yellen, asked if she had given her European counterparts assurances that large U.S. tech firms would be included, said the agreement “will include large profitable firms, and I believe those firms will qualify by almost any definition.” The other main part of the proposal is for countries to tax their home companies' overseas profits at a rate of at least 15%. That would deter the practice of using accounting schemes to shift profits to a few very low-tax countries because earnings untaxed overseas would face a top-up tax in the headquarters country. At home, Biden is proposing a 21% U.S. tax rate on companies' overseas earnings, an increase from the 10.5%-13.125% enacted under former President Donald Trump. Even if the U.S. rate winds up higher than the global minimum, the difference would be small enough to eliminate most room for tax avoidance. Biden's proposal requires congressional approval. KPMG's Corwin said the final statement was silent on several key points, including exactly which of the “largest and most profitable” multinationals would be covered by the proposal and how companies would be protected from double-billing if countries disagree on who has the right to tax them. Those complexities are fodder for the G-20 talks and the ongoing Organization for Economic Cooperation and Development talks in Paris. “The devil is in the details,” Corwin said. The Group of 7 is an informal forum among Canada, France, Germany, Italy, Japan, the UK and the United States. European Union representatives also attend. Its decisions are not legally binding, but leaders can use the forum to exert political influence. McHugh contributed from Frankfurt, Germany. ----------------------------------------------------- The US President Donald Trump politically associating with the US hatred Groups and Republican white Extremist Right Groups in using political fallacies,without real relevance to the fact that Chinese have had trade surplus with the US for over 20yrs:with the US Riches mostly Republicans who have shipped US jobs to Asia for cheap labor with its poor environmental regulations for corporate greed, arguments based on non feasible economic jobs creation options, racial politics based on hatred & racial divide, using White House insiders  to propagate  false Swiss code account & framing up case against President Obama and general racial heat up/divide as political tool to woo gullible US people as to win the next US presidential election, will definitely backfire, counterproductive and will not work, as most moderate & reasonable Americans cannot pay such  ideas and politics.  They will challenge any such foul attempt and reinstall US greatness through oneness and ideas that prepared the US to be able to face Nostradamus prediction that Persia/modern Iran will acquire nuclear arms with help of Russia and shall use it against Rome, Jew/Israel, southern France and Moscow. The Republican White Extremist Rights branding President Obama & Democrats,as socialists,is unfortunate and uncalled for,as the Obamacare comprehensive Health scheme, was put in place as to provide US with healthy people, which people the US Military with right stock of quality people who will be able to mine various US Military/Security challenges and to protect US investment/interest globally.The taxing US Riches who owes large businesses/investments as to generate resources For the State, which will enable the Military to have sufficient funds for its global operations and care for US citizens at home. A US comprehensive immigration Policy is very important as the leader of Free World and allows immigrants to know their right of stay and what is obtainable by Law, as well as enable the US with its Immigrants live and co-exist harmoniously with Its neighbors/Foreigners. Further details on US Immigration and US Health Care are contained on my website as stated: It is advisable that apart from the New EU Economic policies formulation and implementation, there should be some serious efforts of restructuring various European little-industrialized Countries like, Greece, Italy, Spain Ireland and Portugal whose little industries with its low technological products, were overtaken by the China-led Asia cheap industrialized goods under its poor non-regulated environment. ---------------------------- Soliciting for Maziliteralworks' Donation/any amount or Media laptop/window Computers' Donation, Phone Media Assistance for Mazi Literal Works' Dissemination/Publication.Upon your Response,more info of the US/Canadian Coordinator  will be sent. Visit these published Articles' websites. http://maziliteralworks.wordpress.com http://maziliteralworks.blogspot.com https://medium.com/me/stories/public http://disqus.com/home/channel/mazipatrick/ https://maziliteralworks.tumblr.com https://twitter.com/Maziliteraworks Regards, Mazi Patrick  O., email: akwaba2000@gmail.com Thinker, Writer, Political Strategist, Historian & Psychoanalyst.

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