Our Take
After a week of contemplation, and speculation, Representative Paul Ryan is set to become the next Speaker of the House of Representatives and the first person from Wisconsin to hold that position. The House Republican Conference is set to vote Wednesday, with a vote in the full House on Thursday. Unless another bombshell occurs, John Boehner will resign from Congress at the end of the week, but it doesn’t look like the barn will be as clean for Ryan as the former Speaker had hoped. From trying to find a path forward on the debt ceiling, (see below), to figuring out how to pay for dueling transportation authorization proposals, to moving forward on Ex-Im, Speaker Ryan will have to face down a series of challenges from Day One.
Month: October 2015
Health Policy Report
The Week in Review
Legislative action last week was highlighted by ongoing deliberation on how to raise the nation’s debt limit by a November 3 deadline – the date the Treasury Department has determined the country’s borrowing capacity will be exceeded. House Republicans have been deliberating on a solution and considered a proposal last week from the Republican Study Committee (RSC) that would link a $1.5 trillion increase in the borrowing authority with a freeze on all major regulations through July 1, 2017, and a vote on a balanced budget amendment by the end of 2015. However on Thursday, House Republicans backed away from the RSC plan, and a clear path forward has yet to emerge. The issue is expected to dominate discourse in Congress this week as the country slowly inches towards default and the financial turmoil that would likely accompany it.
Review Of Proposed 340B Omnibus Guidance: How We Got Here And What It Says
This post, penned by Thorn Run's Billy Wynne, originally appeared in Health Affairs Blog.
In a previous post—now almost one and a half years ago—I described “the coming storm” I anticipated would develop around the 340B drug discount program. After a brief tornado hit the House Energy and Commerce Committee when they considered including 340B reforms in their 21st Century Cures initiative, a slower, hurricane-style churn over the Administration’s proposed guidance on the topic has settled in.
With the October 27 comment window steadily approaching, let’s take a look at what the rule says and what it could mean for interested stakeholders.
Continue reading “Review Of Proposed 340B Omnibus Guidance: How We Got Here And What It Says”
Health Policy Report
The Week in Review
The House and Senate were in a week-long recess for the Columbus Day holiday last week. Senate Majority Leader Mitch McConnell (R-KY) has scheduled the Senate to return this afternoon at 4:00 PM and the House is set to return tomorrow morning.
Health Policy Report
The Week in Review
Legislative action in Congress last week was overshadowed by the surprising announcement from Majority Leader Kevin McCarthy (R-CA) that he would no longer seek to be Speaker of the House John Boehner’s (R-OH) successor. While McCarthy’s decision caught most observers by surprise, it can be, at least partially, explained by to two key factors. First, the Republican Conference was voting on a rules change that would force candidates for leadership positions within the party to give up their previously held position, meaning that if McCarthy pursued the Speakership, he would be forced out as Majority Leader. Second, even if McCarthy won the majority of votes from the Republican Conference, it is unlikely that he would have secured the 218 votes necessary to be elected as Speaker on the House floor in a vote due later this month – Democratic abstention and opposition from the more conservative members of the Republican caucus would prevent him from reaching the necessary majority on the House floor.
Financial Services Report
Our Take
Last week’s turbulence in the expected ascension of Kevin McCarthy to Speaker, not only threw the House into disarray, but was also was one of those moments when you realize we are living through history. Outside of the drama surrounding McCarthy’s decision and what it means for the Republicans in the House, the event was a reminder of the strength of the “little d” democratic process of the House of Representatives and our constitutional process. Perhaps this is a bit counterintuitive, since both Boehner’s decision to depart, as well as part of McCarthy’s decision was based on the tyranny of the minority, but whether you agree or disagree with the goals of the Freedom Caucus, not a single actual gunshot has been fired in this leadership fight.
Rosenstock: GOP Chaos Good for Debt Ceiling Talks
In a follow-up to yesterday's Politico article, the Washington Bureau of The Business Journals quoted Thorn Run Partners' Jason Rosenstock on the effect chaos in the Republican Party will have on upcoming negotiations over raising the debt celing. According to Rosenstock, the scramble for the Speaker's position "will reinforce those who want to have Boehner raise the debt ceiling before he leaves."
Continue reading “Rosenstock: GOP Chaos Good for Debt Ceiling Talks”
In Politico, TRP’s Jason Rosenstock Comments on GOP Leadership Turmoil’s Effect on Raising Debt Ceiling
In a Politico report, Thorn Run's Jason Rosenstock provides a rosy view of the impact that turmoil within the Republican Party will have on the upcoming fight in Congress on raising the debt ceiling. "I actually think this is good for [the] debt ceiling,” Jason explained to Politico. “The chaos is being caused by the Freedom Caucus, and while they are also opposed to raising the debt ceiling, I think [Thursday’s] activity will reinforce those who want to have Boehner raise the debt ceiling before he leaves."
Health Policy Report
The Week in Review
The showdown over government funding fizzled last week as Speaker John Boehner’s (R-OH) decision to step down cleared the way for a continuing resolution (CR) to pass through Congress and extend government funding through December 11, 2015. A “clean” CR—one devoid of a provision defunding Planned Parenthood—passed the Senate last Tuesday night by a vote of 78-20 before passing the House by a vote of 277-151 on Wednesday afternoon, leaving the President just hours to sign the measure before funding expired at midnight. The House vote brought together a coalition of moderate Republicans and Democrats as many conservative lawmakers in the House voted against the bill due to the maintenance of funding for Planned Parenthood. While the passage of the CR avoids an embarrassing misstep for Congress, it may have just postponed the shutdown fight until mid-December when the stopgap measure expires.
Financial Services Report
Our Take
Looking Ahead
Near Term
- Republican Conference elections on Thursday (though maybe just for Speaker)
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House will take up a series of Financial Services related bills on the suspension calendar on Tuesday including:
- H.R. 2091 – Child Support Assistance Act of 2015
- H.R. 1553 – Small Bank Exam Cycle Reform Act of 2015
- H.R. 1525 – Disclosure Modernization and Simplification Act of 2015
- H.R. 3032 – Securities and Exchange Commission Reporting Modernization Act of 2015
- H.R. 1839 – Reforming Access for Investments in Startup Enterprises Act of 2015
- House will also consider the Homebuyers Assistance Act under a rule on Wednesday. This bill would statutorily create a safe harbor during the implementation of the new TRID rules.
- The Senate is scheduled to take up National Defense Authorization Act (NDAA) over vociferous Democratic objects potentially teeing up a Presidential veto of the NDAA.