Brexit: tell me what you want

The Brexit debacle this week not only signals trouble in closing phase 1 of the negotiations, but also points to the fundamental problem of Brexit: What is the relationship between the EU and the UK going to look like after March 2019? For the EU it made perfect sense to divide the negotiations into two…

United States: a big, beautiful Christmas present

In the end, the Republican resolve to lower taxes beat whatever concerns individual members had about process and debt. Senator McCain came onboard Thursday, and the last holdouts got what they needed Friday: Daines and Johnson got additional tax relief for small businesses, Collins got assurances on health care and Flake on migration. Senator Corker…

United States: Taxing times

Senate Majority leader Mitch McConnell Thursday night postponed a vote on the long-anticipated tax reform. After a week of strong momentum – even John McCain now favors the bill – the efforts stalled when the Joint Committee on Taxation (JCT) issued its assessment of the package. Major changes to the tax proposal are now in…