Month: March 2018

Financial Services Report

Posted on by Thornrun

Our Take

While the adage about March is that it comes in like a lion and out like a lamb, for those covering financial services issues, it seems like the month came in like a hurricane and left like a man angry at an old rival.  In between, the Democratic Caucus frayed over the banking regulatory relief bill only to see the Senate-passed bill only run into potentially bill killing changes in the House.  A potential trade war started to simmer driving the markets into correction territory.   Congress passed a 1.3 trillion-dollar, 2200-page spending bill to keep the government open through the end of the fiscal year.  And depending on your perspective, either the greatest or the scariest, reality show in history keeps plugging along. 

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Health Policy Report

Posted on by Thornrun

The Week in Review

Congress went for an omnibus roller coaster ride last week as lawmakers struggled to negotiate the terms of the legislative package, but ultimately approved a mammoth $1.3 trillion spending bill ahead of the deadline to prevent a government shutdown on Friday. The 2,232-page bill was released late Wednesday night and will keep the government funded through Sep. 30, 2018 and conforms to spending levels of the two-year bipartisan budget agreement reached in February to adjust defense and nondefense discretionary funding caps for FY2018 and FY2019. Despite little time to pour over the details of the package, the House passed the bill 256-167, followed by the Senate’s approval by a 65-32 margin, and finally President Trump – despite a late veto threat – signing the omnibus into law on Friday.

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Today on the Hill: Congress Looks to Work Through Washington Snow Day

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It’s a snow day in Washington as the Office of Personnel Management (OPM) has shuttered the federal government’s D.C. offices due to an ongoing snowstorm striking the area a day after the official start of spring. However, with lawmakers in town and a government funding deadline looming, it’s unclear how much of an effect the weather will have on Congress’s planned work, both on and off the floor.

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Financial Services Report

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Looking Ahead

Near Term

  • The House and Senate race to complete a spending bill as the Friday, March 23rd deadline for current funding to expire quickly approaches.  Reportedly the text of the proposal is supposed to be released Monday evening, though it is possible it could slip.  It is also possible that negotiations could fail.  This could mean the government shuts down at the end of the week (a scenario we view as unlikely) or that there is another short term continuing resolution passed (more likely), punting these issues down the road once again.

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Health Policy Report

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The Week in Review

House lawmakers started last week hoping to consider an omnibus package ahead of the Mar. 23 government funding deadline, but negotiations have once again proven contentious and floor consideration was delayed to this week. Instead, the House considered ‘right to try’ legislation on the floor, with a suspension vote failing to gain the two-thirds majority necessary to be passed on a 259-140 vote. The bill, which is discussed in greater detail below, is expected to be brought to the floor again this week on a vote pursuant to a rule, meaning it will only need a simple majority to pass.

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Politico Influence: Thorn Run Snags Two From Van Scoyoc

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In today's Politico Influence newsletter — the leading government relations beat in Washington D.C. —  Thorn Run Partners was cited following addition of Greg Burns and Mary Scott Hardwick.  Burns joins TRP as a partner, and Hardwick will work as a Vice President.  "Coupled with the considerable local government work our Portland office already performs under the stewardship of our partner Dan Bates, these two new colleagues are going to supercharge that practice and add a real spark to our firm," stated TRP co-founding partner Chris Lamond. 

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Greg Burns, Mary Scott Hardwick Join Thorn Run Partners

Posted on by Thornrun

For Immediate Release

Contact: Andrew Rosenberg, (202) 247-6301

Thorn Run Partners (TRP) announced today the addition of Greg Burns as Partner and Mary Scott Hardwick as Vice President to their Washington, DC office. Both Burns and Hardwick come to Thorn Run Partners from Van Scoyoc Associates, where they specialized in local government representation.

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Financial Services Report

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Our Take

Last week was one of the busiest for those whose work covers the financial services industry and Congress as the Senate began its debate on a regulatory relief package (a/k/a the Bank Lobbyist Act for those readers on the left).   It also may have been the unofficial start of the 2020 Democratic Presidential primary – as every potential candidate currently a Senator attempted to outdo each other’s rhetoric slamming the bill.   Perhaps it should come as little surprise as it seems both the right and the left bounces from issue to issue claiming the current one is ultimate sin.   However, in the case of the reg relief bill, this demagoguing reached a new level, as long simmering tensions among Senate Democrats reached a dangerous schism only previous seen in the self-purification tests of House Republicans.

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Health Policy Report

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The Week in Review

A late-breaking foreign policy development on Friday became the main headline of the week as President Trump accepted an invitation to meet North Korean leader Kim Jong Un to negotiate the future of the rogue state’s nuclear program. The meeting would be the first time a sitting American president has negotiated directly with a North Korean head of state, and some analysts fear that the hermit kingdom has little intention of dismantling its nuclear program. A date and details for the meeting have not yet been set, although the South Korean announcement suggests it will occur by May of this year.

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This Week on the Hill: White House to Issue Steel, Aluminum Tariffs; Senate Considers Bipartisan Banking Bill

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Early policy headlines this week are focused on the fallout from the Administration’s decision to enact tariffs on imported steel and aluminum, which will reportedly be finalized this week. President Trump tweeted about the decision numerous times over the weekend and suggested in a message this morning that the tariffs are linked with the ongoing renegotiation of the North American Free Trade Agreement (NAFTA). Economists fear the beginning of a trade war — reflected by a sell-off in trading markets late last week — as Canada, the European Union and China have already said they will consider retaliatory actions.

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