State of the Union
Follow along for live updates around President Obama's State of the Union address.
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More color obtained by CNN's Jim Acosta, per a White House official:Per tradition, the White House senior staff eat
chicken tenders on major prime-time address nights. This is a tradition that
dates back to 2007, when Obama campaign staff would order chicken tenders at Houlihans in Chicago.Acosta via email: "I can confirm for you
tonight’s chicken tenders have been ordered!" -
by Jake Tapper via twitter 1/20/2015 11:05:19 PMWhy people who sit in the first lady's box at SOTU are referred to as "Lenny Skutniks" #CNNSOTU - cnn.it/1sWBpxH -
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by CNN via twitter 1/20/2015 11:07:23 PM
Respond in real-time with @Bing Pulse as you're watching #CNNSOTU: CNN.com/pulse http://pbs.twimg.com/media/B7z_1tTCIAAnVqg.jpg
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by The First Lady via twitter 1/20/2015 11:11:48 PMMalik Bryant from Chicago wrote Santa a letter asking for one thing: safety. Now he's the First Lady's #SOTU guest → go.wh.gov/q75wXi -
Rand Paul — a likely GOP 2016 contender — is having some fun with the State of the Union. He's created a Facebook app that has "checked the facts on a few of President Obama's bold statements" from previous State of the Union addresses. -
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by cspanJeremy via twitter retweeted by brennawilliams 1/20/2015 11:24:09 PM
Behind-the-scenes in Statuary Hall before #SOTU #SOTU2015 #InsideSOTU http://pbs.twimg.com/media/B71DogJCIAABh_J.jpg
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Have we mentioned we created a Bingo game to go along with State of the Union? Play along, people!What will @BarackObama say tonight? Play #CNNSOTU bingo & you may hear from @wolfblitzer: http://t.co/4A2n1jjoqY http://t.co/biAc9DA7YS
Jan. 20, 2015- Reply
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by CNN via twitter 1/20/2015 11:26:34 PM
Watch @PeterHambyCNN watch #CNNSOTU. #Hambycast starts at 8:30pm ET cnn.com/hambycast
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by zbyronwolf via YouTube 1/20/2015 11:36:40 PM
Here is John Boehner's pre-buttal to the State of the Union address...
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Big takeaways so far from these excerpts. #1: President Obama will officially call on Congress tonight to pass a use of force resolution against ISIS. So far, the U.S. has relied on a 2001 authorization of military force in its fight against ISIS. Same resolution that OKd fight against al-Qaeda in Afghanistan. #2 Expect a big focus tonight on the middle class & income inequality.
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Here's a tweet for you... Rep. Steve King is not happy that a non-citizen will be sitting in the First Lady's box... Supreme Court Justice Samuel Alito has not appeared at the State of the Union address since he shook his head "no" when President Obama was describing the Citizens' United case in 2010.#Obama perverts "prosecutorial discretion" by inviting a deportable to sit in place of honor at #SOTU w/1st Lady. I should sit with Alito.Jan. 20, 2015
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Get ready..... Who's going to win a personalized Vine from Wolf Blitzer?
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Four days ago, to Eleanor Holmes Norton's point, Joe Biden said he thinks D.C. "should be a state." Read more about that from the Washington Cit Paper.What are the odds of President Obama bringing up D.C. statehood tonight?This reporter thinks slim. But you never know.
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Help fact-check President Obama ahead of tonight's State of the Union by playing a just launched game>>>>https://t.
co/g7SQNN9F2q">t.co/g7SQNN9F2q— Senator Rand Paul (@SenRandPaul) https://twitter.com/SenRandPaul/status/557680123005374464">January 20, 2015twitter.com/widgets.js" charset="utf-8"> -
In previewed excerpts of her speech, Freshman Iowa Republican Sen. Joni Ernst, who is tasked with giving the GOP rebuttal to tonight's State of the Union address, outlines areas where she thinks her party and Democrats can work together:
"There’s a lot we can achieve if we work together. Let’s tear down trade barriers in places like Europe and the Pacific. Let’s sell more of what we make and grow in America over there so we can boost manufacturing, wages, and jobs right here, at home. Let’s simplify America’s outdated and loophole-ridden tax code. Republicans think tax filing should be easier for you, not just the well-connected. So let’s iron out loopholes to lower rates — and create jobs, not pay for more government spending. The President has already expressed some support for these kinds of ideas. We’re calling on him now to cooperate to pass them.” -
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Just trolling or for real? #TanSuitThe President's suiting up for the big speech. Tune into http://t.co/tmsUd5yh5y at 9pm ET #YesWeTan http://t.co/FC8sKb8hda
Jan. 20, 2015- Reply
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Say what? Obama plan would roll back 529 tax benefitReporters are just getting around to the fine print of the tax and education proposal the White House put out over the weekend. The Wall Street Journal went through it all and discovered that his proposal, in an effort to raise money to pay for programs that could benefit less wealthy students, would roll back tax incentives for popular 529 plans.Republicans are seizing on the idea, arguing that 529 plans benefit middle class Americans and ending the tax preference in them - users do not pay taxes on interest earned on contributions made with after tax dollars - would equal a serious tax hike.Here's the paragraph from the White House fact sheet, forwarded by our White House producer Kevin Liptak:
Limit upside-down education savings incentives and consolidate them into a single benefit. The President’s plan would consolidate education savings incentives into one vehicle and redirect the savings into the better targeted AOTC. Specifically, the President’s plan will roll back expanded tax cuts for 529 education savings plans that were enacted in 2001 for new contributions, and - like Chairman Camp’s tax reform plan - repeal tax incentives going forward for the much smaller Coverdell education savings program.
The Wall Street Journal notes that these 529 plans can benefit Middle Class parents, but they are also used by the wealthy to shield large amounts of money from future taxes.
Take the Obamas... who sheltered $240k in 529 plans for their daughters. The WSJ:
Investors can currently contribute $14,000 per year per child into 529 plans without triggering gift tax or eating into their lifetime estate- and gift-tax exemption amount . They can also front-load five years’ worth of contributions to the plans. The Obamas took advantage of this perk by contributing $240,000 in total for their two daughters to the plans, according to their 2008 tax returns. The move could have also helped them to lessen possible future taxes on their estate.
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by Jeremy Diamond via twitter 1/21/2015 1:10:28 AMThis year's @TeaPartyExpress response comes from @RepCurtClawson who has 872 Twitter followers. Last year was @SenMikeLee who has 160K
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by The First Lady via twitter 1/21/2015 1:15:02 AM
The First Lady, @DrBiden, and their guests are ready for the #SOTU. Tune in at 9pm ET: wh.gov/SOTU http://pbs.twimg.com/media/B71cgxcCAAAwc_E.jpg
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Here's the White House spin on that controversial plan to end tax benefits for 529 plans
Basically, they say the 529 element is one piece of a larger package.
"The President¹s education tax packageis a large net tax cut for students," according to background provided to CNN's Jim Acosta by an administration official.
They added:
With nearly $50 billion more going to help students and middle-class families pay for college over the next decade. Under the President¹s plan, every dollar saved from consolidating and curbing inefficient education tax breaks and tens of billions more is ploughed right back into higher education tax benefits for students and middle-class families. In particular, families with incomes of up to $180,000 will be able to benefit from the expanded AOTC. And the President¹s investments are above and beyond the middle-class tax cuts he¹d retain by making the AOTC permanent.
Specifically, these plans will still receive favorable tax treatment in two ways: Families will still be able to benefit from deferral. In other words, no tax will be owed on the earnings until they are withdrawn. Additionally, the earnings will be treated as income to the beneficiary. In many cases, the student beneficiary faces a much lower tax rate than the parent or other benefactor who owns the savings account.
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