1/ Tom Price resigned as Trump’s Health and Human Services Secretary after racking up at least $400,000 in private charter flights. Yesterday, in an effort to satisfy Trump, Price offered to reimburse the government $51,887. Price’s resignation came hours after Trump told reporters he considered Price a “fine man� but that he “didn’t like the optics� and would make a decision about his future by the end of the day. Additionally, Politico reported that Price had used a military aircraft to travel to Africa, Europe, and to Asia earlier this year at a cost of more than $500,000 to taxpayers. The overseas trips bring the total cost of Price’s travels to more than $1 million since May. (NBC News / New York Times / Washington Post)
Interior Secretary Ryan Zinke and his aides have taken several flights on private or military aircraft, including a $12,000 charter plane to take him to events in his hometown in Montana and private flights between two Caribbean islands. (Politico / Washington Post)2/ The nonpartisan Tax Policy Center says the Republican tax plan would overwhelmingly benefit the wealthiest Americans and businesses. The report found that the average tax bill for all income groups would decline by $1,600 (2.1%) in 2018. Those earning incomes above $730,000 who would see their after-tax incomes rise by an average of 8.5%, or about $129,000, while those earning an average of $66,960 would see their after-tax income rise by 1.2% or about $660. (New York Times)
3/ Trump could personally save about $1.1 billion in taxes under his proposed plan. The analysis is based on Trump’s 2005 federal tax return and his estimated $2.86 billion net worth. In theory, Trump could save about $1.1 billion from repealing the estate tax, $31 million from repealing the alternative minimum tax, about $16 million from changes to certain types of business income, and about $500k from reducing the highest tax rate from 39.6% to 35%. (New York Times)
4/ Trump’s top economic adviser suggested that a family of four earning $100,000 can expect to save $1,000 a year in taxes – enough to “renovate their kitchen. They can buy a new car. They can take a family vacation. They can increase their lifestyle.� Yesterday, Gary Cohn said he “can’t guarantee� taxes won’t go up for the middle class� and “the wealthy are not getting a tax cut� under Trump’s tax plan. Cohn is worth an estimated $266 million. (HuffPost)
Uh, Gary Cohn (who is worth several hund...