The U.S. House passes a tax bill

Steve & Ted
Friday, November 17th

Special Guest: U.S. House Rep. Ron Estes (R-KS)


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Is the station which talk turns to first for live team coverage of breaking news KSS. Wichita is number one. News talk bad weather station depend on its. Even good morning feedback confronted with the word firefighters were called the scene of a fire in the structure next to a grain elevator in north Newton Thursday afternoon. City of Putin's spokesperson here McDaniel tells KSA news people living near the elevator were pushed back as a safety precaution in case there was an explosion. Legends are always Arab I fear when you're talking about grain elevators. Luckily in this fire these fires contained to storage building adjacent to the elevator and the grain elevator is self is stable. There were no injuries firefighters remained on the scene through the night cause of the fire is under investigation. Now what's the forecast with gay and assist staff meteorologist Dan Holliday could morning and good morning cloud cover is spreading to south central Kansas is moisture lifts in from the south. And as we have an area of low pressure and a cold front move our way temperatures will soar well above average or high 77 with a gusty southwest wind. Cloudy 45 tonight and then clearing tomorrow and much cooler behind the frogs are high 56. I'm Taylor SS meteorologist Dan holidays elf followed amused 58 degrees south wind to twenty miles per hour. Police captured a robbery suspect in south Wichita officer Charlie Davidson says it happened late Wednesday morning at the Dollar General Ponte in broadly. Under a suspect entered the Dollar General indicated he had a weapon or gun. And then demanded money money was given to the suspect who fled the scene and white Cadillac. Officers quickly arrived in the area and didn't locate. The suspect vehicle in the for a block of west Blake. An eighteen year old man was booked into jail for aggravated robbery of a business. If Tyson Foods decides to locate chicken processing plant in Sedgwick county it will mean an estimated 16100 new jobs. Jeremy hill director of the center for economic development and business research at Wichita State University tells K Unisys news. Adding jobs. And at being an opportunity. One way or another is gonna grow an economy so from just a mathematical perspective that's the way we usually take it EU here and expand the regional economy now that doesn't mean. The nimby not in my backyard kind of question. Jeremy Hillis our guest this weekend and issues Tony 17 Sunday morning at eight on tape and assess. The economy will likely remain slow in rural parts of ten planes in western states including Kansas in the months ahead and overall role main street index for the region remained in negative territory below fifty. And declined to 44 point seven and November from October's 45 point three. The index is based on Creighton university's monthly survey of bankers. Com asserting boss says the current low commodity prices and declining farm income continued to weigh on the economy. The index ranges between zero and 100 with any number under fifty indicating a shrinking economy. The index tracking the price of farmland and ranch land declined to 36 point five in November from October's already weak 39 point two Dan O'Neill. KN OSS news vice president Mike Pence received a 2017 distinguished service award at the tax Foundation's eightieth annual dinner. Pence called the recognition meaningful. And it's especially meaningful. To do so on this very day it with your strong support. 200 into money seven members of congress took historic first step to tax reform for the American thing. Great day for America. The house passed a tax bill Thursday with all the Democrats voting no. House Minority Leader Nancy Pelosi says Republican leaders are pushing the bill through quickly she says no one really knows what it contains 736 now is even dead at. We're gonna find athletes date beautiful we've guest. Our fourth district congressman Ron Estes with this morning get your honor and I bet you withers. Maureen green here and yet you got a clue outlets focus that bill. You know I really do it it's. There's there's just been coming from the Democrat Nancy Pelosi it was kind of they had been on the floor yesterday listed them just make up also spoke about. How horrible they wanted to sell that has been a bad problem. It's actually a great bill from a standpoint of being able to lower rates across the board for individuals and businesses and and if you are you talked about earlier about its economy growing. People in rural areas in America and now this is gonna help do that. You know one of the questions that everybody's been asking because of the great to majority of us don't have great amounts of money we got a great middle class out here and and are they going to be argue its middle income America gonna be left behind in this thing. All built this is the system or lower great support it would REIT income bracket. For individuals. Meehan. That that in that that the overall strategy was let's. Lower rates for everybody and eliminate some of those special deductions and loopholes that some of the things we used to seeing in there as we go through. You know the hundred pages of instructions that it takes to do a 1040. And so. You know right now if you are fairly well there and you make up to 55000 dollar actual paying income taxes by the time you're. Used to standard deduction. And and and in the rest of your incomes in this legal percent tax brackets so. If you. It could be hit about 90000 dollar finished opening and we shouldn't as as the operates so there's there's lots of reductions eons. Taxes for. Individuals. You know middle income. Tech's pressure income level. You know we knew we get into attacks as you've very well now. You're gonna have a lot of people upset about the any change you gotta make the day you know and it's one of the one of the criticisms has been okay we're gonna add what. Another trillion they have to the national debt right away and you know that's a tough call what are get a release in that. Yep but that's one of the things go into the Congressional Budget Office. Would it doesn't calculations. I don't know what it's pretty good that is saying OK if you change the rate on a 100000 dollar income from 10% to 25%. Here's that it did that impact that what they aren't good he is looking at what people do differently. Once. Taxes change so once policies change we so that a lot of public here you know they were saying in the that we would. We would. People say 250 dollars a friendly in each year in our premiums and instead premiums until about you know. Thousands of dollars for people so. That's the problem with the Congressional Budget Office the way it goes about its calculations as it. It is kind of keep blinders on and and as history math calculation. But but we all know that taxes affect. What we do as individuals who needed it helps with the agriculture contributions or when or can on all of them. You know I'm more for your house war. Others packed in and so quarters these economic growth that just from. More people in more businesses had a money in your pocket. And we have been in what. The girl economy. Well we heard that promise here in Kansas. And frankly I'm not sure that came about so what's different here. A couple things that are different in terms of you know you. You're you're really comparing apples and orange and so of the tax plan. You can't just basically what was that that was. They did tax cuts and so you know everybody individuals'. That tech. And passed through Christmas is you know got pushed around 20. And that the theory here at that point in time was that. You see a lot of growth in this question. Businessmen as some of the war movement with the smoke from the people that just change. They're structured take advantage of that tax code in what will never know how many he'll be there word just cause they didn't track it. My forehand enough to know. The difference here it is on the on the federal court look at that. Complete reforms shall eliminate a lot of the deductions. That that have been built up over the years because the break shall. And so at the end of the day he most of the schools will exceed tax cuts. In terms what we actually say. What one Olympic and after Kansas was that's been the continued. Thanks continue to grow. And and outpaced revenues and that's where the real problem came in this that you can keep going forever student movement that yeah. Listen we appreciate your time this morning you make it sausage I'm there I know but all of that ought to the senate where this thing in this. Thank you for being with us this morning we appreciate our Kansas congressman Ron it is our guest this morning 741 now Stephen did Q and here we've got bill Roy the which the business journal. Thought about their businesses that are making healthcare decisions also just around the corner city manager Bob blatantly with us to talk about the new fighter keep in Wichita. 742 announced David had a morning on K in a sense.