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Posts Tagged ‘The Hill’

Economist Kudlow says, “Trump…Ending War on Business,” Reactions, MH Industry Impact

October 9th, 2017 Comments off

LarryKudlowTrumpEndingWaronBusinessDailyBusinessNewsMHProNews438Tax and regulatory policy impacts the manufactured housing industry, much as it does other industries and parts of the economy.

The National Association of Manufacturers (NAM), and the National Federation of Independent Business (NFIB) are among those supporting tax reform, as the Daily Business News on MHProNews has previously reported.

So, it with interest that many industry professionals are following the tug-of-war in the nation’s capital over tax policy and proposed tax reform.

Kudlow On the Air

Larry Kudlow sounded off on the topic on Sunday, in a radio interview with John Catsimatidis on AM 970 in New York, per reports by a slew of media outlets.

Ending the War on Business

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Screen capture of some of the mainstream media coverage on this topic.

Donald Trump is, in fact, ending the war on business,” Kudlow said during the radio interview.

Trump is ending the punishment of investment. That’s what this tax bill is really about: The return on capital will go up after tax,” the Hill reported, adding that Kudlow said. “The cost of capital will go down after tax. And that will lead directly into new business projects, and more hires, and better wages and productivity. It doesn’t get any better than this.”

It echoes a refrain that Kudow has been sharing for months, as this recent interview on CNBC reflects.

Left Leaning Media Revolt, While Kudlow Wrote The Book

Left of center outlet, NYMag says of the economist, author and commentator that “Kudlow is a fanatical adherent of supply-side economics.”

The Huffington Post has snarked, Kudlow is best known for being wrong,” while Bloomberg has said,  “Kudlow Is a Troubling Economics Adviser for Trump.”

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But does history prove otherwise?

During the first term of the Reagan administration (1981–1985), Kudlow was associate director for economics and planning in the Office of Management and Budget (OMB), a part of the Executive Office of the President,” says Wikipedia.

Kudlow has literally written the book on how Democratic President John F. Kennedy, as well as GOP President Ronald Reagan both cut tax rates.  Each saw significant economic growth in their wake.

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Furthermore, while revenues to the federal government initially dropped, over time, they rose in both cases.

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Kudlow and business associations are far from alone in promoting tax reform.

Billionaire Steve Forbes has argued for tax reform and simplifying the code for years, see a recent report, linked here.

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Chart used by Steve Forbes, image credit, Prager U.

Forbes reminds his readers and listeners that properly done, tax reform is more than just money savings that frees capital to create more growth.  Forbes argues for tax reform to avoid the time lost in tax compliance.

White House Press Room to MHProNews

The White House press room sent a reminder to MHProNews about President Donald J. Trump’s op-ed in a Wisconsin newspaper that focused on tax reform.

In that presidential op-ed in the Milwaukee Journal Sentinel, he said the country’s “self-destructive tax code costs Americans millions of jobs, trillions of dollars and billions of hours spent on compliance and paperwork.”

That’s a point that mirrors Forbes’ observation, noted above.

To fix this, we have made the foundation of our job creation agenda fundamentally reforming our tax code for the first time in more than 30 years,” President Trump wrote in the op-ed.

I want to work with Congress on a plan that is pro-growth, pro-jobs, pro-worker and pro-American.”

The president has that his tax plan would “dramatically reduce” the “income taxes for American workers and families.”

While the White House and House speaker Paul Ryan are quoted by the Hill as saying they expect some bi-partisan support. But given the partisan trench warfare in Washington, D.C., that’s not yet a given.

Those who support tax reform should let their senators and congressional representative know. The links below can help you contact your elected officials by phone or message.

We Provide, You Decide.” © ## (News, analysis, commentary.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Tunica Forecast—Terrific for Growth

March 27th, 2017 Comments off

The doors Spring open at the Tunica Manufactured Home Show Tuesday, March 28 at 12:45 PM as attendees are greeted by SCMHI executives.

Frank Rolfe, credit:MHProNews

Seminars kick off promptly at 1:00 PM as Frank Rolfe, one of today’s most publicized personalities in the world of manufactured housing, sparks the Getting Positive Media Coverage, Engaging the Media panel discussion. A successful partner in Mobile Home University and RV Horizons, Rolfe has been featured in The New York Times and Bloomberg.

Joining him on the panel will be Tom Fath, a partner in New Durham Estates, and while a bit more low key than Rolfe, he and his family have nevertheless realized a 400 percent growth in new home sales.

 

Tom Fath, credit: MHProNews

From 2:30 to 3:30 PM, 30-year + industry veteran, L. A. “Tony” Kovach, publisher of MHLivingNews and MHProNews, will lead a seminar on Attract and Sell more Qualified Customers by Engaging the Public through the Media. With articles and interviews published in numerous mainstream media, including the Chicago Sun Times NewsGroup and The Hill, Kovach will share facts, figures, tips and other strategies to increase your bottom line via positive media.

L. A. “Tony” Kovach, credit:MHProNews

Q and A will follow both presentations.             

From 3:40 to 5:00 PM Leading Manufactured Home Industry Lenders will present their strategies on attracting and selling more well qualified customers—both chattel and home/land– in a wide-ranging panel discussion, with updates on programs that you may not know about.

All seminars will be held in the Magnolia Room at the Resorts Casino.

http://tunicashow.com/

(Image credits are as shown above.)

 

Submitted by Matthew J. Silver to the Daily Business News for MHProNews.

 

 

 

POTUS Speech: Public, Media, Markets Applaud

March 2nd, 2017 Comments off
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Credit: NY Post.

Leading up to his speech to a joint session of Congress Tuesday evening, many were curious as to exactly how President Donald Trump would approach the moment and what his message would be.

Post speech, the responses, and where they came from, were quite interesting.

This will be a very well-received speech for Donald Trump,said MSNBC commentator Rachel Maddow.

I think it’s fair to say it’s a product of expectations that he’s not seen as somebody who necessarily gives a good formal speech.”

According to The Hill, media analysts estimate 40 million to 45 million people watched the address Tuesday night.

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Credits: The Hill, CBS This Morning.

He said from the beginning he was going to speak from his heart, and I certainly think he did that,said Gayle King of CBS This Morning.

I thought it was by far the best speech I’ve ever heard Donald Trump give,” said Chris Wallace of FOX News.

It was one of the best speeches in that setting I’ve ever heard any president give.

 

Polling from CBS News showed that viewers nationwide strongly approved of the President’s speech, with many Democrats joining Republicans in calling it “presidential” and positive in tone.

The polls also showed Republicans and Independents found the speech “unifying,” and the President gained support for his policy plans among viewers on the economy, immigration, terrorism, crime and Obamacare.

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Credit: CBS News.

While half of Democrats reportedly found the speech “divisive,” about one-third of them also said President Trump was “specific” and “knowledgeable” in his speech, and there is agreement across party lines that he is trying to do what he said he’d do during the campaign.

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Credit: NY Times.

During the speech, commentators, along with the Daily Business News, noticed the divide amongst the Democratic and Republic sides of the chamber. While this is usually standard fare, it should be noted that even in the moments where the President spoke about unity across party lines, that only a handful of Democratic representatives acknowledged the need.

 

 

The Markets Respond 

According to CNBC, President Trump’s speech hit a cord with the markets, as U.S. equities surged to all-time highs yesterday, with the Dow, S&P 500 and NASDAQ all posting their best days of the year.

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Credit: Getty Images.

The major positive from the speech is he delivered on his ‘America first’ message, but he did so in a positive and uniting way,” said Zhiwei Ren, portfolio manager at Penn Mutual Asset Management.

If his message of ‘America first’ can succeed, this could be positive for the economy” in the near term.

The Dow finished the day up 303 points, with the NASDAQ, S&P 500 and Russell 2K index, and indicator of small and mid cap stocks, all gaining over one percent.

The speech’s tone has gone a long way for the market,” said Quincy Krosby, market strategist at Prudential Financial.

It assuaged fears that his agenda was not going to be able to be passed.

 

The MH Industry

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Credit: MHProNews. Click here for Kovach’s full letter.

As Daily Business News readers are aware, a growing economy and more jobs, less regulations, and proposed changes to Dodd-Frank and the Consumer Financial Protection Bureau (CFPB), are all reasons for Industry Optimism with respect to President Trump.

The Trump Administration has made it absolutely clear that one of its key priorities will be to reduce baseless regulatory burdens on American businesses that needlessly increase the cost of American products and undermine job creation,said MHARR President and CEO M. Mark Weiss.

Dr. Ben Carson, whose up/down vote as HUD Secretary is expected within the next few days, has been warmly greeted by MHARR, MHI and MHProNews, as a leader who grasps the manufactured housing industry’s importance to the realization of the American Dream.

I do see manufactured housing playing an important role in providing affordable housing in rural areas. I think it’s important to ensure HUD’s policies promote access to this valuable resource,” said Carson.

MHProNews and MHLivingNews publisher L.A. “Tony” Kovach penned an open letter to Dr. Carson, which is linked here.

For more responses from MH industry professionals on the election of President Trump, click here. ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Dem Senators Scramble to Save CFPB’s Cordray

January 18th, 2017 Comments off
IDontThinkThereWasEverMuchHighCostLendingInTheManufacturedHousingMarket-stillcreditCSPAN2--RichardCordrayCFPBdirector-Posted-MHLivingNews-com-

Still from an Inside MH video, reflecting how Richard Cordray himself said that there was never much high cost lending in the manufactured housing industry market.

Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) is getting some help from Senate Democrats to save his job.

As the Daily Business News reported recently, Republican Senators Mike Lee (UT) and Bob Sasse (NE) sent a letter to Vice President-elect Mike Pence and President-elect Donald Trump, urging them to remove Cordray.

It’s time to fire King Richard,” said Sasse, who also serves as a member of the Senate Banking Committee.

GOPSenatorstoPresidentelectTrumpFireCFPBHeadRichardCordraycreditTwitter-postedtothedailybusinessnewsmhpronewsmhlivingnews

A tweet from Senator Bob Sasse.

Underneath the CFPB’s Orwellian acronym is an attack on the American idea that the people who write our laws are accountable to the American people. President-elect Trump has the authority to remove Mr. Cordray and that’s exactly what the American people deserve.

According to The Hill, Senate Democrats are asking Trump to do the opposite.

Senate Minority Leader Charles Schumer (N.Y.) and Senators Sherrod Brown (OH) and Elizabeth Warren (Mass.) defended CFPB Director Richard Cordray’s record, saying he should be allowed to finish his term as the bureau’s chief through July 2018.

They say removing Cordray would be an “extreme and unprecedented step.

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Senators Chuck Schumner (right) and Harry Reid. Credit: Politico.

Do not tell Richard Cordray he’s fired,” said Schumer.

Firing Cordray might be part of the billionaire agenda, but removing him and gutting the consumer bureau would shatter Trump’s promise,” said Brown, who is the ranking Democrat on the Senate Banking Committee.

Schumer, Brown and Warren also said they would help lead a national campaign to defend Cordray should Trump decide to fire him.

The CFPB was established as part of the Dodd-Frank Act as an independent agency. This technically means that President-elect Trump could only fire Cordray “for cause,” a rare step meant for serious abuses of power.

A U.S. Court of Appeals recently ruled the CFPB’s structure is unconstitutional.

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Credit: Wikipedia, CFPB, HubPages.

 

Under Rich Cordray, the CFPB is doing its job on behalf of the American people,” said Warren.

President-elect Trump is considering former House Representative Randy Neugebauer (R-Texas) to lead the agency as its sole director.

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Randy Neugebauer. Credit: Wikipedia.

Per The Hill, Neugebauer was one of several House Financial Services Committee members who opposed the CFPB’s power and structure.

Schumer believes that Neugebauer is a less than ideal choice.

It’s like putting the biggest arsonist that we know of in the firehouse,” said Schumer.

Neugebauer is responsible for a 2015 bill that would install a bipartisan commission to lead the CFPB instead of a sole director.

Republicans believe a bipartisan commission would rein in the agency and prevent it from stifling the economy with overbearing enforcement actions, while Democrats say the push for a commission would make the agency effectively powerless.

We know if there’s a commission, it simply won’t work,” said Brown. “The whole idea of the commission is to emasculate this agency and take away its power.

Senator Lee disagrees.

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Senator Mike Lee. Credit: AP.

The Constitution was written to protect the American people from unelected and unaccountable bureaucrats, said Lee. “Considering the damage CFPB has done to credit unions and community banks, President Trump should act quickly to remove the director.“ ##

 

(Editor’s Note: MHLivingNews has closely followed Director Cordray’s testimony, see the video linked here – his interesting statements on manufactured home loans.)

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Media-Based Attack on Investor-Owned Communities=’The Private Equity Takeover of America’s Neighborhoods’

January 3rd, 2017 Comments off

KevinBordenExecDirMHActionJonathanWestinNYCommunitiesChangeTheHill-postedManufacturedHousingIndustryInFocusMHProNews300x458In the waning days of December, 2016 – and just five days before National Public Radio (NPR) pulled their slanted Mobile Home Park Owners Can Spoil An Affordable American Dream – Washington DC’s The Hill published a column by Kevin Borden and Jonathan Westin. Their column foreshadowed what was coming from NPR’s All Things Considered broadcast and articles.

Borden, per their own brief bio, “is the Executive Director of MHAction, a growing national movement of manufactured home owners who work to protect the affordability and quality of their communities through local and state campaigns.”

That same bio says that “Westin is the Executive Director at New York Communities for Change, a coalition of working families in low and moderate income communities fighting for social and economic justice.”

MHProNews’ publisher researched and prepared a report, but then the NPR story hit, so the reaction article was not published until today.

Using a step-by-step fact-based response, you’ll see how the mainstream media is being used once again to attack the manufactured home community sector, and by extension, the industry at large.

It should be noted that The Hill has a disclaimer at the end of the Borden and Westin op-ed.  It reads as follows:The views expressed by Contributors are their own and are not the views of The Hill.”  The Hill is widely read by those in Washington, D.C. – and beyond.

To read the Borden and Westin column, click here.

To see the analysis and response article – Paving the Road to Hellclick here. ##

(Image credits are as shown above.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.

Rep. Fincher: CFPB Continues to Prevent Access to Manufactured Housing for Millions

July 14th, 2015 Comments off

stephen fincher  tenn rep  wikipediaIn thehill blog, Rep. Stephen Fincher (R-TN), a member of the House Financial Services Committee reiterates his call for the Consumer Financial Protection Bureau to support his bill to restore access to financing for manufactured home buyers.

He writes, “Manufactured homes are commonly more affordable than a rent payment and provide buyers with options that meet their needs. Sadly, access to financing for manufactured homes has been seriously harmed due to actions by the Consumer Financial Protection Bureau (CFPB). Without the option to obtain financing, thousands of manufactured home customers are now trapped and unable to buy or sell homes.

Noting that Congress should support homeownership instead of denying that opportunity to millions, he says retailers are prohibited from providing assistance to consumers during the homebuying process, which leaves prospective buyers in the dark about their options.

Fincher writes, “There is no incentive for a manufactured home lender to grant a loan to a customer that does not clearly exhibit an ability to repay, as lenders generally retain the loans they make on their books. This is different than other types of loans that are packaged and resold for a profit. In fact, no one wins when a buyer is unable to pay their manufactured housing payment – the borrower, the lender, the manufacturer and all its employees lose out.

As MHProNews knows, he says the bipartisan legislation he has sponsored gives the CFPB authority under Dodd-Frank to make an adjustment that “maintains federal oversight of manufactured housing lending, safety and construction standards and preserves core consumer protections against predatory lending practices. ##

(Photo credit: wikipediacommons-Rep. Stephen Fincher)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

The Federal Register publishes rules for Power cords, airplanes, credit unions and manufactured housing

November 5th, 2014 Comments off

federal-register-daily-journal-of-federal-government-logo-posted-daily-business-news-mhpronews-The Hill tells MHProNews that the Tuesday November 4th edition of the Federal Register contains “new rules for computer power cords, airplanes flying in icy conditions, mobile home construction standards, and credit unions.”

The Federal Register’s document is styled: Billing Code 4210-67, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, [Docket No. FR- 5803-N-01], Manufactured Home Construction and Safety Standards, Request for Recommended Changes, and is linked here.

Quoting The Hill:

Mobile homes: The Department of Housing and Urban Development (HUD) is considering more changes to the construction standards for mobile homes.

HUD is inviting the public to propose changes to the agency’s manufactured home construction and safety standards by Dec. 31, 2014. The agency says it is looking to improve the quality, durability, safety and affordability of mobile homes.

This is the latest of several recent changes to federal regulations for mobile homes.”

Since The Hill is widely read at U.S. Capitol, it would be helpful if they realized that there have been no “mobile homes” built in the U.S. since June 15, 1976.

Comments from industry or the public on the proposals can be made via the information found on the download, linked above. ##

(Image credit: Federal Register Logo)