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Yahoo
6 days ago
- Business
- Yahoo
US Chamber launches 6-figure ad campaign behind GOP tax bill
Congress's bill cutting taxes and spending will receive an advertising campaign from a major business lobby as it faces widespread criticism for redistributing wealth and resources toward the upper strata of American society. The U.S. Chamber of Commerce, one of the nation's largest business lobbies, will run the six-figure campaign across various media in targeted states and congressional districts, though the group didn't specify in a Friday release where exactly those would be. 'The campaign will include a total of 32 billboards across the country and matching paid digital advertising. This initial ad buy will run for at least the next month with the intention to expand to additional states and districts,' it said. The ads will mention 14 congressional representatives and two senators and will '[draw] attention to those Members of Congress who are not supportive of the bill,' the group said. The campaign likely has an eye toward the 2026 midterm elections, which could see Republicans lose their trifecta. Republicans are gunning for seats currently held by retiring Democrats in Michigan, New Hampshire and Minnesota and have vulnerabilities in the Senate in North Carolina and Maine. The economy and languishing economic sentiment as a result of the White House's frequently changing tariff policies factor significantly in Republicans' 2026 strategy, according to reports. Their goal is to 'overcome negative economic sentiment by rekindling the energy Trump brings when he is on the ballot,' according to one report by NBC News based on interviews with about a dozen GOP strategists. Public opinion surveys of Trump's 'big, beautiful bill' are hard to come by, but some show that the public does not view it favorably. One poll from YouGov earlier this month on the 'budget proposed by Republicans and Donald Trump' found that 43 percent of Americans oppose it, while 36 percent support it and 21 percent have no opinion. Along party lines, 76 percent of Republicans support it and 80 percent of Democrats oppose it, according to that poll. A different March survey by McLaughlin & Associates that was paid for by the Chamber of Commerce found that 64 percent of respondents favored extending the 2017 Trump tax cuts, while 20 percent opposed doing so. The 2017 tax cuts, which form the core of the current tax legislation now under consideration by the Senate, were opposed by the majority of Americans in Gallup polling from that year, with 56 percent of Americans disapproving and 29 percent approving. The tax-and-spending cuts are heavily skewed toward the rich, according to many different analyses of the legislation. The Congressional Budget Office (CBO) found that Americans in the highest tenth of the income distribution will gain wealth as a result of the bill, while those in the lowest tenth will lose wealth. The tax cuts themselves, which would add $3.9 trillion to the deficit through 2034, are also much more advantageous to the wealthiest Americans, according to the Joint Committee on Taxation (JCT). There will be hundreds of billions more in cuts for top earners than for the many more Americans making closer to the median income of about $80,000 per year, the JCT found. The legislation will kick millions off of public health insurance and food assistance programs, according to the CBO. Some Republicans have voiced opposition to the policies in the bill on various grounds. Sen. Josh Hawley (R-Mo.) has staked out territory as a defender of Medicaid, which his party's bill would cut through increased reporting of work requirements — a barrier to the program by means of increased paperwork. He wrote in a New York Times op-ed earlier this month that cutting health care for working poor people 'is both morally wrong and politically suicidal.' Rep. Thomas Massie (R-Ky.) attacked the bill — and voted against it — on the grounds that it was a ticking 'debt bomb.' All told, the legislation passed by the House could add in the ballpark of $2.3 trillion to the national deficit depending on how different parts of the bill interact with one another, estimates of which are forthcoming from the CBO. That's roughly $255 billion on a yearly basis, or about 7 percent of the total $36 trillion national debt stock per year. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
6 days ago
- Business
- The Hill
US Chamber launches six-figure ad campaign behind GOP tax bill
Congress's tax-and-spending cut bill will receive an advertising campaign from a major business lobby as it faces widespread criticism for redistributing wealth and resources toward the upper strata of American society. The U.S. Chamber of Commerce, one of the nation's largest business lobbies, will run the six-figure campaign across various media in targeted states and Congressional districts, though the group didn't specify in a Friday release where exactly those would be. 'The campaign will include a total of 32 billboards across the country and matching paid digital advertising. This initial ad buy will run for at least the next month with the intention to expand to additional states and districts,' the Chamber said. The ads will mention 14 congressional representatives and two senators and will '[draw] attention to those Members of Congress who are not supportive of the bill,' the group said. The campaign likely has an eye toward the 2026 midterm elections, which could take trifecta control of Congress and the White House away from Republicans, depending on the outcome. Republicans are gunning for seats currently held by retiring Democrats in Michigan, New Hampshire and Minnesota and have vulnerabilities in the Senate in North Carolina and Maine. The economy and languishing economic sentiment as a result of frequently changing White House tariff policies factor significantly in Republican's 2026 strategy, according to reports. Their goal is to 'overcome negative economic sentiment by rekindling the energy Trump brings when he is on the ballot,' according to one report by NBC News based on interviews with about a dozen GOP strategists. Public opinion surveys of Trump's 'big, beautiful bill' are hard to come by, but some show that the public does not view it favorably. One survey by YouGov from earlier this month on the 'budget proposed by Republicans and Donald Trump' found that 43 percent of Americans oppose it while 36 percent support it and 21 percent have no opinion. Along party lines, 76 percent of Republicans support it and 80 percent of Democrats oppose it, according to that poll. A different March survey by McLaughlin and Associates that was paid for by the Chamber of Commerce found that 64 percent of respondents favored extending the 2017 Trump tax cuts while 20 percent opposed it. The 2017 tax cuts, which form the core of the current tax legislation now under consideration by the Senate, were opposed by the majority of Americans in Gallup polling from that year, with 56 percent of Americans disapproving and 29 percent approving. The tax-and-spending cuts are heavily skewed toward the rich, according to many different analyses of the legislation. The Congressional Budget Office (CBO) found that Americans in the highest tenth of the income distribution will gain wealth as a result of the bill, while those in the lowest tenth will lose wealth. The tax cuts themselves, which would add $3.9 trillion to the deficit through 2034, are also much more advantageous to the wealthiest Americans, according to the Joint Committee on Taxation (JCT). There will be hundreds of billions more in cuts for top earners than for the many more Americans making closer to the median income of around $80,000 a year, the JCT found. The legislation will kick millions off of public health insurance and food assistance programs, according to the CBO. Some Republicans have voiced opposition to the policies in the bill on various grounds. Sen. Josh Hawley (R-Mo.) has staked out territory as a defender of Medicaid, which his party's bill would cut through increased reporting of work requirements – a barrier to the program by means of increased paperwork. He wrote in a New York Times piece earlier this month that cutting health care for working poor people 'is both morally wrong and politically suicidal.' Rep. Thomas Massie (R-Ky.) attacked the bill — and voted against it — on the grounds that it was a ticking 'debt bomb.' All told, the legislation passed by the House could add in the ballpark of $2.3 trillion to the national deficit depending on how different parts of the bill interact with each other, estimates of which are forthcoming from the CBO. That's roughly $255 billion on a yearly basis, or about 7 percent of the total $36 trillion national debt stock per year.
Egypt Today
26-05-2025
- Business
- Egypt Today
IN DEPTH: President El-Sisi Welcomes U.S. Business Delegation, Calls for Deepening Economic Ties and Industrial Cooperation
President El-Sisi meets with a delegation of top U.S. business leaders in Cairo to discuss investment and economic cooperation CAIRO - 26 MAY 2025: President Abdel Fattah El-Sisi has received a high-ranking U.S. business delegation attending the Egypt-U.S. Economic Forum in Cairo, in a meeting that underscored Egypt's strategic efforts to expand American investment and deepen bilateral economic ties. The delegation was led by Suzanne Clark, President and CEO of the U.S. Chamber of Commerce, and John Christmann, Chairman of the U.S.-Egypt Business Council and CEO of Apache Corporation — one of the largest American investors in Egypt's energy sector. President El-Sisi welcomes U.S. business delegation as part of efforts to strengthen Egypt–U.S. economic ties. Also present at the meeting were Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Eng. Kamel El-Wazir, Minister of Planning and Economic Development Dr. Rania Al-Mashat, Minister of Foreign Affairs and Egyptians Abroad Dr. Badr Abdelatty, and Minister of Investment and Foreign Trade Eng. Hassan El-Khatib. Private Session Highlights Strategic Vision Ahead of the broader talks, President El-Sisi held a private meeting with Clark and Christmann, during which he reaffirmed Egypt's readiness to foster stronger partnerships with U.S. businesses across key sectors including energy, industry, infrastructure, and digital transformation. He pointed to the supportive direction of President Donald Trump's administration toward increasing bilateral corporate cooperation and highlighted Egypt's ambition to become a manufacturing and export base for American industries targeting Arab and African markets. Egypt's President El-Sisi discusses investment opportunities with leaders of major American companies in Cairo. President El-Sisi emphasized Egypt's strategic advantages — a large domestic market, geographic location connecting continents, and strong trade ties with neighboring countries — which collectively position Egypt as an ideal hub for U.S. production and regional distribution. Call to Establish a U.S. Industrial Zone in Suez Canal Economic Zone One of the key proposals tabled by President El-Sisi during the discussions was Egypt's invitation to the U.S. private sector to develop a dedicated American industrial zone within the Suez Canal Economic Zone (SCZone). He stressed that the Egyptian government is fully committed to providing all necessary incentives and overcoming any bureaucratic hurdles to facilitate this vision. El-Sisi: Egypt ready to become a regional hub for U.S. industries and a gateway to Africa and the Arab world. The President described investment in Egypt as a "strategic opportunity" for global investors, citing the country's political stability, robust infrastructure, and social resilience — particularly the collective will of the Egyptian people to endure and support difficult but essential economic reforms implemented over recent years. U.S. Chamber Praises Strength of Bilateral Relations In her remarks, Suzanne Clark hailed the enduring partnership between the United States and Egypt, stating that the presence of a large American business delegation reflects confidence in the Egyptian market and in the country's reform path. She highlighted the success stories of U.S. companies already operating in Egypt — particularly Apache Corporation — as proof of the mutual benefit achievable through closer cooperation. President El-Sisi and American CEOs explore prospects for an industrial zone in the Suez Canal Economic Zone. Clark also noted that American firms in Egypt are not only turning profits but are contributing meaningfully to job creation, technology transfer, and development goals, aligning with Egypt's vision for inclusive and sustainable growth. President Reiterates Commitment to Economic Reform and Private Sector Empowerment During the wider meeting with representatives from major U.S. corporations, President El-Sisi reiterated Egypt's commitment to creating an enabling environment for foreign investment. He outlined the government's economic reform program, legislative adjustments, and infrastructure megaprojects, all of which aim to attract capital and improve competitiveness. High-level talks in Cairo underscore commitment to expanding U.S. investments in Egypt's growing economy. The President highlighted Egypt's readiness to welcome both new and expanding U.S. investments, especially in energy, green economy, manufacturing, logistics, agriculture, and technology. He stressed that any concerns or obstacles facing American investors would be swiftly addressed through dedicated government support mechanisms. El-Sisi also emphasized the state's policy to strengthen the role of the private sector in driving economic growth, underscoring the government's efforts to strike a balance between macroeconomic stability and inclusive development. Looking Ahead: A Deeper Strategic Partnership The meeting concluded with a shared acknowledgment of the importance of enhancing trade and investment between Egypt and the United States. Both sides recognized the evolving global economic landscape and the need for resilient partnerships that generate growth, innovation, and mutual benefit. President El-Sisi meets top U.S. business leaders, reaffirming Egypt's commitment to strategic economic partnership. President El-Sisi reaffirmed Egypt's appreciation for its longstanding partnership with the U.S., expressing confidence that stronger cooperation in business and investment would serve as a cornerstone of a deeper strategic alliance.
Egypt Today
26-05-2025
- Business
- Egypt Today
Egypt looks forward to becoming major industrial hub for American industries, President Sisi
CAIRO – 26 May 2025: Egypt's President Abdel Fattah El Sisi received a delegation of US businessmen participating in the Egyptian-US Economic Forum held in Cairo. The delegation was headed by CEO and President of the U.S. Chamber of Commerce Suzanne Clark and Chairman of the US-Egypt Business Council and CEO of Apache Corporation John J. Christmann. Also present were Prime Minister Dr. Moustafa Madbouly, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Eng. Kamel El-Wazir, Minister of Planning, Economic Development and International Cooperation Dr. Rania Al-Mashat, Minister of Foreign Affairs, Emigration and Egyptian Expatriates Dr. Badr Abdel-Atty and Minister of Investment and Foreign Trade Eng. Hassan El-Khatib. The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President first met with Ms. Clark and Mr. Christmann before being joined by the members of the delegation. The President expressed Egypt's readiness to cooperate with the American business community and investors in all economic fields of mutual interest, in light of US President Trump's support to enhancing cooperation between Egyptian and American companies. President El-Sisi affirmed that Egypt looked forward to becoming a major industrial hub for American industries, also serving as a large market and a gateway to the Arab region and the African continent, in light of the strong relations Egypt shares with the continent's countries. The President also affirmed that Egypt looked forward to establishing an American industrial zone in the Suez Canal Economic Zone and emphasized that Egypt was ready to provide all the necessary facilities to American investors, noting that investing in Egypt is an opportunity for any investor, as it enjoys both political and societal stability, based on the awareness of citizens and their resilience in enduring the major and harsh economic reforms that were implemented to achieve the public interest, in light of the difficult political circumstances that the region is experiencing and their ensuing repercussions. Clark noted that the delegation's visit to Egypt confirms the strength and solidity of the strategic alliance between Egypt and the USA. She explained that American companies operating in Egypt have achieved significant successes and contributed to the development process in Egypt, and are considered a model to be emulated in the success of cooperation between the two countries, similar to the Apache Corporation. This was highly valued by the President, who expressed his appreciation for the success of Apache's business in Egypt and the expansion of its scope of work.
See - Sada Elbalad
26-05-2025
- Business
- See - Sada Elbalad
FM Participates in U.S.-Egypt Economic Forum to Promote Strategic, Investment Ties
Nada Mustafa Badr Abdelatty, Egypt's Minister of Foreign Affairs and Immigration, participated, on Monday, in U.S.-Egypt Economic Policy Leaders Forum, hosted in Cairo under the patronage of President Abdel Fattah El-Sisi. The event was organized in coordination with the U.S. Chamber of Commerce in Washington and was attended by Suzanne Clark, President and CEO of the U.S. Chamber of Commerce, Eng. Omar Mehanna, Chairman of the American Chamber of Commerce in Cairo, along with over 80 CEOs and senior executives from major American companies. Ambassador Tamim Khallaf, the spokesperson for the Ministry of Foreign Affairs, stated that Abdelatty delivered a keynote speech in a special session titled "Strategic Relations Between Egypt and the United States." In his remarks, he praised the depth of the strategic partnership between the two countries, emphasizing that economic and trade relations are a cornerstone of this partnership and serve shared interests. Moreover, he affirmed that advancing economic and trade ties, attracting American investments to Egypt, and enhancing existing investments are top priorities for the Egyptian government. FM also expressed Egypt's aspiration to attract more U.S. direct investment, highlighting the wide range of opportunities available in the Egyptian market across multiple sectors. Furthermore, he underlined the readiness of the Egyptian government and its institutions to cooperate with American and international companies and ensure a smooth entry into the Egyptian market. In this context, he outlined the recent steps and reforms undertaken by Egypt to improve the investment climate and business environment, reiterating the government's commitment to implementing economic reforms and empowering the private sector as a primary driver of development. Abdelatty also voiced his hope that this forum would serve as a launching point for future events and platforms that deepen economic and investment cooperation between Egypt and the United States. In addition, FM addressed Egypt's stance on several regional challenges. He discussed Egypt's ongoing efforts to restore a ceasefire in Gaza and ensure the delivery of humanitarian aid, stressing the importance of reaching a permanent and just political solution to the Palestinian issue. He also outlined Egypt's positions on the crises in Sudan, Libya, and the Red Sea, affirming Egypt's tireless efforts to promote peace, security, and stability in the region. Abdelatty further emphasized the implications of de-escalation in the Red Sea on maritime navigation, global trade, and supply chains. He noted that the resumption of regular navigation in the Red Sea and through the Suez Canal serves the global economy, especially in light of recent geopolitical challenges that disrupted shipping and trade. These disruptions have imposed significant economic costs on Egypt, underscoring the urgent need to address the root causes of regional conflicts to ensure long-term stability in the Red Sea region. In conclusion, Abdelatty took part in an interactive dialogue session focused on bilateral relations between Egypt and the United States, exploring ways to elevate economic and investment cooperation to new heights. Badr Abdelatty Badr Abdelatty Badr Abdelatty Badr Abdelatty Badr Abdelatty Badr Abdelatty read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
