The New Spider-Man: Sony and Marvel Bet Big on Tom Holland

The New Spider-Man: Sony and Marvel Bet Big on Tom Holland

Amazing Fantasy #15
Marvel Comics
By Andrew Lumby

After much speculation and debate, Marvel has finally revealed who will play Peter Parker in its next Spider-Man reboot — and it’s not a name you’ll be likely to recognize: 19-year-old Tom Holland.

Who? Exactly.

Significantly more cherubic than the last two stars cast in the role — Tobey Maguire and Andrew Garfield — Holland appeared in the 2012 movie The Impossible and had a stint in the title role of the London production of Billy Elliott. Now he’ll be the web-slinging superhero, starting with a relatively small role in next year’s Captain America: Civil War and then in an as-yet-unnamed Spider-Man movie.

Marvel had said they would be casting someone more in line with Spidey’s actual age. In the comics and films, Parker is ostensibly an 18-year-old high school senior, but Maguire was 27 when he first donned the mask, while Garfield was 28.

Related: Sony Spins a New Spider-Man Strategy with Disney

The very fact that Marvel was able to cast anyone in the role at all was thanks to a protracted negotiations with Spider-Man’s cinematic rights-holder, Sony. Finally clinching this deal allows Marvel to bring have Spider-Man play his pivotal and necessary role in Civil War, a comic-book story arc adored by critics and fans alike.

But as much as fans might have riding on Holland’s Spider-Man, Marvel and Sony are counting on him even more: They’re effectively betting hundreds of millions of dollars on the little-known actor, and hoping he can breathe new life into a franchise that, while is generated $1.5 billion in U.S. box office sales and about $4 billion worldwide, has seen dwindling returns over time.

The first Spider-Man movie starring Holland is slated to be released on July 28, 2017.

Spider-Man (2002): $403,706,375

Spider-Man 2 (2004): $373,585,825

Spider-Man 3 (2007): $336,530,303

The Amazing Spider-Man (2012): $262,030,663

The Amazing Spider-Man 2 (2014): $202,853,933

Quote of the Day: A Big Hurdle for the Tax Cuts

Reuters/Joshua Roberts
By The Fiscal Times Staff

“He goes in and campaigns on an issue, and the challenge is he then talks about executing drug dealers. Why do you think the press is going to cover the tax cuts if you’ve given them the much more exciting issue?”

-- Grover Norquist, president of tax-cutting advocacy group Americans for Tax Reform, on President Trump’s failure to sell the tax law.

The Obamacare Mandate That Could Produce $12 Billion in Fines in 2018

FILE PHOTO: A sign on an insurance store advertises Obamacare in San Ysidro
MIKE BLAKE
By Michael Rainey

Republicans effectively eliminated the individual Obamacare mandate in the tax package signed late last year. Although the new regulation reducing the mandate penalty to zero doesn’t take effect until 2019, President Trump has cited the rule change as a victory over the health law so many conservatives oppose. “Essentially, we are getting rid of Obamacare. Some people would say, essentially, we have gotten rid of it," Trump told a crowd in Michigan two weeks ago.

However, many parts of the Affordable Care Act are still in effect and will continue to operate even after the individual mandate is eliminated in 2019.

In particular, the employer mandate, which requires companies with more than 50 employees to offer health benefits or face fine of roughly $2,000 per worker, will continue to play a significant role in the Obamacare system. The Congressional Budget Office estimates that the mandate will produce more than $12 billion in fines in 2018 alone.

Some conservative groups are pushing lawmakers to stop enforcing the employer mandate, but the IRS is still working to enforce the law. According to The New York Times Monday, the IRS is sending out notices to more than 30,000 businesses that have failed to comply. 

Chart of the Day: It’s Still the Economy, Stupid

iStockphoto
By Yuval Rosenberg

Security may be the top policy issue for Republican voters, but the economy is the top concern for Democrats, independents and voters overall, according to Morning Consult’s latest polling on the midterm elections. Health care is third on the list, followed by “seniors’ issues.” The results are based on surveys with more than 275,000 registered U.S. voters from February 1 to April 30.

Number of the Day: $13 Billion

A congressional aide places a placard on a podium for the House Republican's legislation to overhaul the tax code on Capitol Hill in Washington
JOSHUA ROBERTS/Reuters
By The Fiscal Times Staff

An analysis by Bloomberg finds that the roughly 180 companies in the S&P 500 that have reported earnings for the first three months of the year saved almost $13 billion thanks to the corporate tax cut enacted late last year. Those companies’ effective tax rate dropped by more than 6 percentage points on average. About a third of the tax savings went to 44 financial firms.

How a Florida Doctor with Social Ties to Trump Delayed a $16B Billion VA Project

McDonald delivers an apology, for recent misstatements about his military record, to reporters outside VA headquarters in Washington
REUTERS/Jonathan Ernst
By The Fiscal Times Staff

A West Palm Beach doctor who is friends with Ike Perlmutter, the chairman of Marvel Entertainment and an informal adviser to President Trump on veterans’ issues, has held up “the biggest health information technology project in history — the transformation of the VA’s digital records system,” Politico’s Arthur Allen reports. Dr. Bruce Moskowitz “objected to the $16 billion Department of Veterans Affairs project because he doesn’t like the Cerner Corp. software he uses at two Florida hospitals, according to four former and current senior VA officials. Cerner technology is a cornerstone of the VA project. … Moskowitz’s concerns effectively delayed the agreement for months, the sources said.” Read the full story.