Financial Services Report

Looking Ahead

Near Term

  • On Tuesday the President will deliver his first State of the Union.  In addition to selling the tax reform bill he is expected to talk about how the economy (i.e., the stock market) is booming.  It would not be surprising if he talks about his plan for infrastructure investment, as well as potentially, the Administration’s plan for immigration reform.  
  • Beyond the State of the Union it will be a short week in the House as the Republicans depart for their Conference at the Greenbrier in West Virginia starting on Wednesday and for the rest of the week. However, the House will consider a series of financial services measures on the suspension docket, a full list of which can be found here.
  • The Financial Services Committee will hold two hearings this week, both on Tuesday.  First, the Financial Institutions Subcommittee will hold a hearing on FinTech, while later that afternoon the Oversight and Investigations Subcommittee will hear how Human Traffickers are exploiting the U.S. Financial markets.
  • The Senate Banking Committee will hear from US Treasury Secretary Mnuchin on Tuesday as he provides the annual report from the FSOC.   The Secretary will appear before the House on February 6th

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This Week on the Hill: Trump’s First SOTU; House Votes on Defense Spending and Senate Considers Abortion Bill

It’s State of the Union week in Washington as lawmakers await President Trump’s first installment of the annual address tomorrow night. The speech gives the White House a valuable opportunity to reset the legislative playbook after the past few weeks of government shutdown drama, although the underlying issues of a broad budget deal and a plan for the Dreamers continue to loom large. As a reminder, the current continuing resolution (CR) funding the government is due to expire on Feb. 8.

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Today on the Hill: Congress Postures on Immigration; Senate Clears Noms Queue

It’s been a quiet week in Washington since Monday’s shutdown drama, but both sides are starting to set the parameters for the next round of fights on government funding and immigration. President Trump took a conciliatory tone in comments to reporters in Davos, Switzerland yesterday, saying that Dreamers could “morph into” citizens over a period of 10-12 years — a break from past statements on the issue. While far from a commitment, the position may move the White House and congressional Democrats closer to a deal for the immigrants covered under the deferred action for childhood arrivals (DACA) program.

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Financial Services Report

Our Take

This weekend marked the one-year anniversary of the Trump Administration.   To quote those great American poets, what a long strange trip it’s been.  The President campaigned on running our government in a very different manner and he certainly has delivered.  This past weekend saw funding for the federal government run out due to intense partisan bickering over immigration and massive protests occurring around the country.  Amid all of this, it was nice to see just a little bit of normalcy.

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Health Policy Report

The Week in Review

Partisan rancor over government funding and immigration came to a boil last week, as lawmakers were ultimately unable to come up with an agreement to avoid the first lapse of government funding since 2013. While the House managed to pass a one-month continuing resolution (CR) — including a 6-year reauthorization of the Children’s Health Insurance Program (CHIP) and delays of certain Affordable Care Act (ACA) taxes — that funding bill fell well short of reaching the 60 votes necessary to avoid a government shutdown.

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TRP Engage Featured by O’Dwyer’s PR News

Yesterday, O'Dwyer's PR Newsa leading publication for PR and marketing communications firms, covered the launch of TRP Engage — Thorn Run's proprietary platform of customized communications tools designed to help clients better accomplish their government relations objectives. "TRP Engage is the product of a decade’s worth of listening to clients and developing a mix of communications capabilities that empower them to succeed at government relations,” said TRP co-founding partner Andy Rosenberg. “We help solve organizations’ strategic communications needs in a variety of ways, either serving as a standalone public relations firm or as an enhancement to our advocacy or policy work.

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Thorn Run Partners Launches New Strategic Communications Platform: TRP Engage

TRP Engage manifests the firm’s unique approach to efficiently employing impactful communications services and capabilities to supercharge clients’ government relations efforts.

Thorn Run Partners (TRP) (thornrun.com) today announced the launch of TRP Engage, a proprietary platform of customized communications tools designed to help clients better accomplish their government relations objectives. Whether pursuing direct policy advocacy, seeking to influence key decision makers, or standardizing the flow of communication to internal or external stakeholders, TRP clients benefit from this sophisticated package of communications tactics and capabilities.

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Health Policy Report

The Week in Review

Both chambers began their 2018 legislative work in earnest last week with the top headline being the ongoing funding negotiations to keep the government open past Jan. 19. Despite fervent behind-the-scenes discussions between lawmakers and White House officials for a long-term omnibus to set funding for the remainder of the fiscal year, Republican leaders signaled last week that the passage of another stopgap spending bill will be needed to keep the government running beyond Friday.

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Today on the Hill: Another CR Seems Likely as Immigration Divide Continues; House to Hold FISA Fight

Despite fervent behind-the-scenes negotiations in Congress, the passage of another stopgap spending bill to keep the government funded past Jan. 19 is growing increasingly likely. This is primarily due to the contentious split on immigration and the deferred action for childhood arrivals (DACA) program as rank-and-file members in both parties appear to have drawn lines in the sand over what can be included in any compromise. A rumored continuing resolution (CR) would provide funding through the Presidents’ Day holiday next month and include similar short-term fixes for the program deadlines tied to the funding bill, such as the National Flood Insurance Program (NFIP). While many budget hawks will have serious hesitations about voting for another short-term extension, it seems the most likely outcome given that the current continuing resolution is due to expire in just over a week.

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Today on the Hill: Azar Appears Before Senate Finance Committee, Funding Negotiations Continue to Stall

Government funding negotiations continue to stall, as congressional Republicans and While House officials are growing increasingly skeptical that a long term budget agreement will be reached in the next 11 days.  Party leaders from both sides of the aisle have been working to raise stiff spending caps before the Jan. 19 deadline, yet Democrats and Republicans are still far apart on many key issues — most notably, border security and immigration provisions. President Trump has renewed calls that his proposed border wall be included in any deal over the Obama-era Deferred Action for Childhood Arrivals (DACA) program, which Trump is ending in March. Democrats, who are pushing to include protections for young immigrants in a spending bill, say that a border wall is a non-starter for them. With no agreement in sight, it likely means that another short-term continuing resolution (CR) will be needed to keep the government open.

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