March 8, 2018 1:10 PM
Speaker Paul Ryan To Speak from Home Depot Headquarters *LIVE at 2:45 p.m.*
Speaker of the House Paul Ryan will be issuing remarks on tax reform from the headquarters of Home Depot in Atlanta at 2:45 p.m. You can watch live below.
Update: Rep. Karen Handel (R, GA-6) to join Speaker Ryan.
This afternoon, U.S. Representative Karen Handel and Speaker Paul Ryan, along with other members of Georgia’s Congressional Delegation, will visit the headquarters of Home Depot in Vinings, GA. Home Depot recently announced that it rewarded its hourly-wage employees with bonuses following passage of the Tax Cuts and Jobs Act.
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Meanwhile in Wisconsin; Harley Davison that was struggling before the possibility of a tariff war is panicking, the paper industry is panicking, Johnson Controls and Johnson wax are worried, the dairy industry is panicking, and the soy farmers along the Mississippi are worried. But hey, lets go to a district not your own or even in your own state, to a business that closed half their stores in Wisconsin over the last 10 years – and tick off the largest Republican donor in Wisconsin – who owns Menards.
To be fair to Speaker Ryan, Kohler plumbing products and Milwaukee tools are sold at Home Depot.
The tariffs are a big deal. I work for a plumbing company and there is talk of pipes originating from outside the USA increasing in price by 25-30%. This is going to increase other plumbing products as well.
Did you know Kolher’s iron foundry was gutted by a fire in January? Still not online. Expect a shortage of cast iron wall hung sinks from them in the next few months.
As a side note, your employer does great work.
Thank you for the compliment. I wasn’t aware of the fire. A lot of architects have gone to using Zurn cast iron sinks, so I wasn’t aware.
And other basic hardware like simple fasteners (screws, bolts, nuts, etc.), which virtually none of is still manufactured in this country. This horse is not only already out of the barn but has run off to another country.
“To be fair to Speaker Ryan, Kohler plumbing products and Milwaukee tools are sold at Home Depot.”
This comment is pretty hilarious if you read it WITHOUT adding the second “to” as I did upon my first read through.
Isn’t the (misguided) SELL of tariffs is to make USA made goods competitive? Cheap import now, raise price via tariff, USA makes product at price to compete with higher priced export?
The concept fails to account for the reality that manufacturing may not be increased here due to loss of skilled workers, shuttered manufacturing facilities not economically viable to reopen, consumers not willing to pay for the higher priced goods (ie support USA made goods and higher worker wages) and therefore buy less.
Exactly.
I’m going to think out loud for a moment.
I suspect the goal is to create a little elbow room so US manufacturers can increase production, creating jobs. But unemployment is pretty low, so I don’t know how many jobs this might create, but to the extent that it creates more competition for employees it could raise wages in some localities a bit. Which usually results in price increases of the products.
Also, this could be a way to encourage some companies to reinvest the huge windfall they are getting from the tax cuts instead of buying back their stock. I suppose increased production could marginally put downward pressure on prices, but I wouldn’t think much. I mean why should they? How much competition is there in the aluminum and steel production industries? It seems just as likely that Nucor and USSteel will just buy up smaller companies and keep prices up.
So on the one hand you’ve got some more jobs making more expensive steel and aluminum. On the other hand, you might have fewer jobs making stuff out of steel and aluminum because we won’t be able to export any of it due to price and possible retaliatory tariffs.
The problem is that Americans have repeatedly shown they want lower priced goods with little concern of where it is made. Cars, water heaters, appliances (fridge, dishwashers, stoves), etc. are made of steel and aluminum. The end products may be manufactured here, but a lot of raw materials are being brought in from outside of the country.
Has Congress even thought about passing a bill to control he tariff issue themselves? They can in fact take control back for the discretion and authority they have previously delegated.
Just remember that Trump would have to sign it unless they can somehow get a veto-proof, 2/3 supermajority in BOTH houses.
As I understand it, he’s not even allowed to do this unilaterally unless it is for security reasons. How does making temporary exemptions dependent on the outcome of NAFTA negotiations qualify for a security action?
On the other hand, who is going to challenge him on it?
Our system is so dependent on elections that it can’t stop a president from flagrantly breaking laws. Well, he can only break the laws for three more years.