Morning Money POLITICOTAX CUT HITS TURBULENCE Big drama unfolded on the Senate floor Thursday evening as Sens. Bob Corker R Tenn., Jeff Flake R Ariz. Ron Johnson R Wisc. Economists, business groups and many conservatives tend to hate the trigger because it would raise taxes in a slow growing economy not a great idea and create uncertainty for businesses over their tax rates also not great. All three eventually voted to proceed without the trigger. But it appears a final bill may include 3. B in automatic tax hikes with a corporate rate that starts at 2. Story Continued Below. Per POLITICOs Seung Min Kim and Colin Wilhelm Senate Republicans have dropped a plan to create a so called trigger for tax hikes meant to satisfy deficit hawks, leaving the GOP scrambling to change its plan and win over enough votes to pass their massive tax code overhaul. Senate Majority Whip John Cornyn R Texas said the proposal would not pass muster procedurally and would need to find something else to satisfy the bloc of deficit hawk holdouts, led by Sen. Bob Corker R Tenn. It doesnt look like the trigger is going to work, according to the parliamentarian, Cornyn said. So we have an alternative, frankly a tax increase we dont want to do to try to address Sen. Corkers concerns. Corker added My understanding is, that the parliamentarian has ruled against it so theyre just going to automatically put tax increases in, period. Read more. VOTE ON HOLD UNTIL FRIDAY Senate Republicans are still scrambling to win over enough votes to pass their massive tax code overhaul, with major changes to the bill still up in the air and a final vote pushed beyond Thursday night. Senate Majority Leader Mitch Mc. Connell R Ky. said the next vote in the tax debate will come at 1. Friday, as work continues behind the scenes to win over skeptical deficit hawks and other hold outs. AUTOMATIC TAX HIKES Corker and Flake said the revenue raised with tax increases which senators say would kick in six years after the enactment of the tax legislation would total about 3. Cornyn suggested that figure may need to go higher. Cornyn tweeted late Thursday Other trigger ideas being vetted. COULD 2. PERCENT HIKE BE TEMPORARY WSJs Richard Rubin, Siobhan Hughes and Kristina Peterson One possible outcome is that the corporate tax rate would start at 2. Reports On Money Making' title='Reports On Money Making' />Get the latest international news and world events from Asia, Europe, the Middle East, and more. See world news photos and videos at ABCNews. Category MBA Projects, MBA Projects Reports Free from Allprojectreports. Samples BBA Training Reports, Free MBA Sample ProjectsSynopsis, Final Management. Tonight, police are close to making an arrest in the shocking murder and decapitation of 56 year old Cotton Tree resident Hilton Wayne Wade. Well tell you about the. That move could shrink the size of the tax cut by 3. Republicans said theyre trying to create. White House congressional liaison Marc Short, who was dashing between Republican leadership offices, said that Republicans were still on track and the legislations goals would remain the same. Even if that happens, it provides record tax relief for the corporate side, and middle income families, said Mr. Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. Date of availability. Find the economic latest news and headlines, as well as blogs and video from CNBC. Reports On Money Making' title='Reports On Money Making' />Short, referring to the possible change in plan on corporate taxes. Marie Laforet Mon Amour Mon Ami 8. Read more. WHY PEOPLE HATE THE TRIGGER MM spoke with Tim Phillips of the Koch Brothers funded Americans for Prosperity about how much he and many other conservatives hate the trigger mechanism Heres Phillips Its just a terrible idea. Businesses need certainty as much as possible in the tax code, thats a fundamental marker they have to have. The trigger does away with that certainty which would limit economic growth. And the last thing you want to do in an economic downturn is raise taxes. Even most liberals will say that. No one is questioning the intent of these individuals pushing this idea, its just a terrible idea. JCT CONFIRMS THE COST Republicans got some not unexpected but still bad news with release of the Joint Committee on Taxations dynamic score of the Senate tax bill which still shows the measure adding over a trillion dollars in debt over ten years. From the report We estimate that this proposal would increase GDP by about 0. That increase in income would increase revenues, relative to the conventional estimate of a loss of 1,4. This budget effect would be partially offset by an increase in interest payments on the Federal debt of about 5. Read more. HATCH REACT Via Senate Finance spox Julia Lawless An analysis of tax provisions that do not reflect the final outcome of the evolving Senate tax bill which will be amended on the floor this week is incomplete. SHOULD YELLEN GET MARKET CREDIT Bloombergs Matthew Winkler in a column going up Friday morning after the Dow busted through 2. K for the first time on hopes for the big corporate tax cut If any individual can reasonably take credit for the bull market, she would be Janet Yellen, the first woman to lead the U. S. Federal Reserve during its 1. Yellen communicated with consistent clarity to chief executives and investors a message that increasingly proved accurate about the economys steady improvement. Her effectiveness is ratified by the unprecedented collapse of fluctuations in all markets since she assumed control of the Fed. SHUT OUT AT TREASURY NYTs Alan Rappeport Those inside Treasurys Office of Tax Policy, which Mr. Mnuchin has credited with running the models, say they have been largely shut out of the process and are not working on the type of detailed analysis that he has mentioned. An economist at the Office of Tax Analysis, who spoke on the condition of anonymity so as not to jeopardize his job, said Treasury had not released a dynamic analysis showing that the tax plan would be paid for with economic growth because one did not exist. Senator Elizabeth Warren, a Massachusetts Democrat, called for the Treasury Departments inspector general to investigate political meddling in the tax policy office and called for the release of any analyses that were conducted Read more. Via Bloombergs Saleha Mohsin Treasury OIGs Rich Delmar confirms theres an inquiry and that its a top priority. Treasury Secretary Steven Mnuchin under fire over tax analysis. Getty. GOOD FRIDAY MORNING Well after 3. Friday has finally arrived. Much tax action awaits us. Email me on bwhitepolitico. Twitter morningmoneyben. Email Aubree Eliza Weaver on aweaverpolitico. Twitter Aubree. EWeaver. THIS MORNING ON POLITICO PRO FINANCIAL SERVICES Patrick Temple West on GOP lawmakers efforts to delay a stock market surveillance tool that was approved by the SEC in the face of opposition from financial firms. To get Morning Money every day before 6 a. Pro Services at 7. DRIVING THE DAY Senate back at it on taxes at 1. ISM manufacturing at 1. Auto sales in the afternoon expected to dip to 1. M from 1. 8. 0. M A message from Morgan Stanley Its hard to think of an industry that wont be touched in some way by technological disruption over the next decade. Morgan Stanley Investment Managements Growth Team shares the big ideas and emerging trends that may have far reaching implications for economies, industries, social behaviorand investors. Read more. TRUMP TRIED TO END SENATE RUSSIA PROBE NYTs Jonathan Martin, Maggie Haberman and Alexander Burns President Trump over the summer repeatedly urged senior Senate Republicans, including the chairman of the Senate Intelligence Committee, to end the panels investigation into Russias interference in the 2. Max Keiser Gold, Silver, Bitcoin. It is already popular knowledge that blockchain technology is revolutionizing the methods of service delivery in any system where data exchange and transactions are involved. Different industries are already affected by this change to different extents, and the financial services systems are among the most affected so far. Banks are going blockchain. For financial institutions, especially banks to fully implement blockchain services and use it in most of their transactions is only but a matter of time. This is evident in the various adoptions and tests that we have to happen during the year. For example, in July 2. SWIFT announced that 2. Po. C, designed to validate whether the technology can help banks reconcile their international Nostro accounts in real time. Also in September 2. Royal Bank of Canada RBC, the largest bank in the country, was reported to be trialling blockchain technology for fund transfers to and from the U. S. A trial that was developed over six months at the RBC blockchain development lab in Toronto, which allows the bank to explore the potential of the tech without fully replacing the existing system. The Proof of Asset protocol. In this same mold, a new product that is making its way into the financial industry with the promise of uniting members of the financial markets, not only in cryptocurrencies, is known as Bankex. This blockchain solution unites members of the financial markets to build a community and implement the Proof of Asset Protocol that enables community members to profit from the mutual use of assets. This Protocol will also enable a new generation of assets and contracts creating decentralized capital markets. BANKEX unites decentralized Bank as a Service platforms with Fin. Tech technologies and optimizes the liquidity of non fungible and traditionally illiquid assets. In its simplest form, Bankex is defined as Bank as a Service on the blockchain, building the Proof of asset Protocol. BANKEX stands for Bank exchange, to describe a platform where banks can exchange their products. Considering the changing structure of the financial market, Bankex is primarily designed to enhance banking services and enable a seamless switch to emerging technologies. This is as a result of the acknowledgment that traditional financial technologies are inefficient and are inferior to new blockchain technologies when addressing a large range of asset classes. This platform also enables off balance sheet crowdfunding and chain finance atop extant infrastructure, creating novel and efficient solutions for banks and other financial institutions. Bank as a Service Baa. SOn a general note, Bank as a Service Baa. S is a business model that makes it possible to build new financial products that are integrated with multiple existing technological solutions and jurisdictions. On one side of these platforms are originators in various jurisdictions with various technologies, and on the other are fintech companies wishing to launch a new product or expand to a new market. Bankex enhances a quick and efficient process without the need to work out integration with the legislation of every country and every new bank from scratch. Since the platform already contains technological and legal integration, it can provide access to a new player more cheaply and more quickly.