Of 34 Republicans on the House Finance Committee in charge to push Trump’s Tax bill, 2 members, Steve Pearce and Bill Posey, are members of the Conservative House Freedom Caucus. The Democrats lined up on the Committee are the best of the far left communists but Republicans hold advantage by 34 to 26 Dems.
The Senate Finance committee is a 14 Rep to 12 Dem line up and 3 possible Republicans share the Trump / William Howard Taft Philosophy — Tim Scott, Isakson and Grassely from Iowa yet don’t hold out hope on the Taft Score as all 3 Senators were dead silent through 8 years of America’s Bummer.
To sit on most prominent Banking, Finance and the House Ways and Means Committees, Party members, usually most senior, buy the seats if they raise at last check about $200,000. As the Democrats under Obummer pushed through Dodd- Frank, regulations and other economic disasters, Republicans were silent to alert the public. To speak against then Republican seats on the committees and re election money from the party would disappear. The choice was speak and lose or silence to hold positions. The Republicans sold out in favor of silence.
The result is non conservative and moderate Republicans from the Teddy Roosevelt Wing of the party dominate the Committees as has been the case since 1988. Their philosophies are different to Trump and it will reflect in the final product of the Tax Bill as Trump may not see all he seeks in Tax cuts. Reagan tax cuts were different as Taft / Reagan had majority support from a Taft congressional party members by shared philosophies.
The larger political picture line up is interesting. Many Moderates from the Democrat and Republican parties are retiring in droves. Democrat Moderates see far left Communists sitting on all prominent committees therefore they lack any chance to raise money and sit on those committees. Better to retire as reelection efforts will also flounder.
Republican moderates will lose ability to sit on prominent committees and struggle in re election efforts as Trump / Taft philosophical members will dominate the committees. The political front is moving to far left Communists to right wing Republicans and a far far divide than has been seen since the 1920’s, 1930’s?
The news media has been in operational mode to condition the public for the left / right divide as they speak for the first time in their histories in left / right terms. Traditional left right terms was studied and defined by academics.
GBP/USD. Overall break points are now located at 1.3143 and 1.3114. The break at 1.3131 would challenge 1.3114 then 1.3071. At 1.3131 defines the upside to see a run above 1.3143 then 1.3172 and 1.3203.
If GBP/USD breaks 1.3114 then GBP/JPY will break today’s 148.49 and head to its overall break point at 147.87 and 146.43. GBP/USD will decide the fate of GBP/JPY.
EUR/USD. Overall break points are located today at 1.1619 and far above at 1.1791. Above, EUR must break 1.1626, 1.1632, 1.1643 then target at 1.1654. Below, a break of 1.1583 would target 1.1574, 1.1561 and 1.1553.
EUR/JPY. Overall breaks today are located at 131.34 and 131.01. Upon a break then targets today 131.18 and 130.93. To rise, EUR/JPY must break 132.08 then a gap materializes from 132.08 to 132.56.
USD/JPY must breaks are located at 113.42 and 113.32 then comes 113.18 and 113.04. Above 113.42 targets 113.79.