Month: October 2018

TRP’s Rosenstock Quoted in AP Article on Economic Impact of the Midterms

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Thorn Run Partners’ Jason Rosenstock was recently quoted in an article for The Associated Press that discusses the potential impact of the 2018 election on the U.S. economy. The article highlights President Trump's assertations that the U.S. economy will struggle if Democrats win control of the House. Despite his proclamations, Rosenstock contends that the president may be willing to work across the aisle to boost his legislative portfolio ahead of the 2020 election. “Trump is the wild card here,” said Rosenstock. “He may want to be seen as a deal-cutter going into the 2020 election.”

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Health Policy Report

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The Week in Review

House and Senate lawmakers have left Washington to hit the campaign trail.

The Week Ahead

Both chambers are scheduled to resume legislative business one week after the midterms on Tuesday, November 13th. While the House’s schedule has yet to be announced, Senators are slated to take up the legislative vehicle (S.140) for Coast Guard reauthorization and consider the nomination Michelle Bowman to be a member of the Board of Governors of the Federal Reserve.

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TRP’s Rosenstock Discusses Potential Impact of a ‘Blue Wave’ in Piece for American Banker

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Today, TRP’s  Jason Rosenstock penned an article in American Banker where he discussed what a potential “blue wave" could mean for the financial services system after November’s midterm elections.  "If one were to believe only the clickbait headlines, the ascendant Democratic majority in House is being built on a foundation of populist, anti-establishment socialists whose aim is to undermine and replace America's open-market system with a leftists command economy that will destroy our financial services system," said Rosenstock. "The truth, however, couldn't be more different." Rosenstock argues that the electoral math for next year should give pause to those in the industry who view a potential Democratic majority as "the end of days." He also astutely points out that the industry should begin thinking about pragmatism and bipartisan solutions. "Next year should be a time to build, not burn, bridges." 

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Health Policy Report

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The Week in Review

House and Senate lawmakers have left Washington to hit the campaign trail.

The Week Ahead

Both chambers are scheduled to resume legislative business one week after the midterms on Tuesday, November 13th. While the House’s schedule has yet to be announced, Senators are slated to take up the legislative vehicle (S.140) for Coast Guard reauthorization and consider the nomination Michelle Bowman to be a member of the Board of Governors of the Federal Reserve.

Continue reading “Health Policy Report”

Financial Services Report

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Much to the delight of Senate staff, a deal was reached last week for the Senate to stand in recess until November 13th.  With the House of Representatives already out of town to campaign this means that this is the last newsletter until after the mid-term elections.

Speaking of the mid-terms we are now three weeks out.   With both the House and Senate out of town, the DC stage has been ceded to the President – and it is likely that he will make active use of it.  How that impacts the elections will be determined on November 6th. 

The current conventional wisdom holds that the House is likely to go Democratic, while the Senate is expected to remain in Republican control.   That will likely change multiple times  – especially because the media has a strong incentive to sell the horse race narrative.    

Whatever the results, rest assured that our bipartisan team at Thorn Run is prepared to help you navigate the next Congress.  

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Health Policy Report

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The Week in Review

Senators returned to Washington for what proved to be their last legislative work period before next month’s midterm elections. The Senate began their week by clearing the legislative vehicle (S. 3021) for reauthorization of the Water Resources Development Act (WRDA). Additionally, Senate leadership struck a deal late Thursday afternoon that allowed lawmakers to head home and campaign ahead of next month’s midterm elections. Under the deal, Senators voted to confirm a bloc of 15 judges nominated by President Trump prior to leaving Washington for the campaign trail. Senate Democrats also forced a vote on Resolution of Disapproval (S.J.Res.63) that would override the Trump administration’s rule expanding short-term health insurance plans. The resolution — which failed on an even 50-to-50 vote — was largely seen as a political messaging exercise for Democrats who are set on making health care a key messaging pillar for the 2018 election. 

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Today on the Hill: Senate Set to Chip Away at Presidential Nominations

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Following passage of the legislative vehicle (S. 3021) for reauthorization of the Water Resources Development Act (WRDA), the Senate will reconvene today and turn its attention to the presidential nominations queue. For the balance of the week, Majority Leader Mitch McConnell (R-KY) has filed cloture on three nominations including: (1) Jeffrey Bossert Clark to be an Assistant Attorney General; (2) Eric S. Dreiband to be an Assistant Attorney General; and (3) James N. Stewart to be an Assistant Secretary of Defense. As of now, the upper chamber is slated to hold a final confirmation vote on the Clark nomination. However, Senate leadership has indicated that additional roll call votes are expected for today’s session.

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This Week on the Hill: Senate Queues Up WRDA Reauthorization, Presidential Nominations

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The Senate is due back in Washington today for legislative business. When the chamber reconvenes later this afternoon, Senators are expected resume consideration of the legislative vehicle (S. 3021) for reauthorization of the Water Resources Development Act (WRDA). The Senate is also expected to chip away at the presidential nominations queue, as Majority Leader Mitch McConnell (R-KY) has filed cloture on three nominations including: (1) Jeffrey Bossert Clark to be an Assistant Attorney General; (2) Eric S. Dreiband to be an Assistant Attorney General; and (3) James N. Stewart to be an Assistant Secretary of Defense.

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Health Policy Report

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The Week in Review

The Senate convened last week to clear an array of high-profile legislative items — headlined by a contentious debate over the nomination of Brett Kavanaugh to be an Associate Justice of the Supreme Court. Prior to consideration of the Kavanaugh nomination, Senators passed a $90 billion funding bill (H.R.302) that reauthorizes the Federal Aviation Administration (FAA) for five years. The Senate also held a final roll call vote on the opioid crisis response legislation, sending the bill to President Trump’s desk for signature into law.

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Financial Services Report

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Welcome to the Columbus Day edition of Thorn Run Partners' financial services report, where we provide you the insight and analysis that is ahead of the curve and driving the narrative in Washington, DC.    

While Washington and the nation were gripped by the Kavanaugh nomination last week, there was also numerous events and activities taking place last week of note for the financial services industry. In case you missed any of it, we hope this newsletter is helpful in catching you up.

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