AMERICAS OIL: Repairs to Colombian Cano Limon Oil Pipe Underway After Attack

Senator Rick Scott (R-FL) and a group of Trump-aligned Republican lawmakers have co-signed a letter to House Speaker Mike Johnson (R-LA) and incoming Senate Majority Leader John Thune (R-SD) outlining their roadmap for legislation in 2025. 

• The proposal tracks closely with Thune’s plan to divide President-elect Donald Trump’s agenda into two large reconciliation bills, with the first to focus on immigration and the second on tax. The two-step plan has been criticised by some senior Republicans, including Ways and Means Committee Chair, Jason Smith (R-MO) - the top tax writer in the House - for putting tax reform at risk of delays and legislative logjam.
• The letter, acknowledging that "success is far from guaranteed,” asserts that a two-step reconciliation process presents the best chances of passing border security legislation.
• In the border bill, the letter calls for four years of funding to “complete and strengthen” the US-Mexico border wall, thousands of additional border agents to “apprehend and remove migrants,” and increased detention capacity. It also calls for encouraging self-deportation by imposing financial penalties on illegal migrants.
• The group says the second bill should prevent a "massive tax increase" if Trump's first-term tax cuts are allowed to lapse on January 1, 2026 and should "reduce the deficit by including necessary spending reforms and cuts.”
• The letter argues that offsets can be achieved by repealing the IRA green tax credits and from an “estimated $2.5 trillion worth of cuts that the Department of Government Efficiency will identify...” 

Ex-Fed officials and economists discuss the use of asset purchases in the framework.- On MNI Policy MainWire now, for more details please contact sales@marketnews.com