Financial Services Report (3/11)

Its been a tough week for moderates – at least if one were to try to read the Democratic zeitgeist.  Earlier in the week, a New York Times Opinion piece questioned whether the Democratic party needs moderates anymore. And then yesterday, the media lit up with headlines of their latest liberal darling criticizing moderates for “worshiping the “meh”’.   Hard to believe it is just a few weeks since David Brooks call for moderation in our political discourse was also in the Times.
 
For years this email has warned of the threat of a Democratic version of the Tea Party, and the demise of the success of the compromise in American politics. For years Senator Ted Kennedy, certainly not one to claim he carried the mantle of moderation, was lauded for a strategy that achieved incremental success.  It seems under these new politics, practiced by the left and the right, where one must vilify their opponents – or anyone who has the audacity not to one-hundred percent agree with them – our cherished representative democracy seems trending towards two default positions. 
 
Either a totalitarian regime, where the only achievements are portrayed as grand in scope but subject to reversal in the next election. Or impregnable gridlock, because any compromise must be viewed as a total defeat.    But it doesn't have to be this way. The left may be decrying the moderate today, but it is because in our Democracy you need to convince others of your positions — and that is hard, and takes time. But having a real center, that has the ability to listen to both sides and try to find common ground – or at least acceptable alternatives is critical if we want our government to function.

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Today on the Hill: Democrats Continue Push to Reinstate Net Neutrality

Congressional Democrats are making another push to reverse the Federal Communications Commission (FCC) repeal of net neutrality rules. Democrats in both chambers have introduced a three-page bill that would codify the FCC’s since repealed 2015 Open Internet Order. According to Speaker Nancy Pelosi (D-CA), the House will likely pass the bill “in a matter of weeks.” However, much like the attempt Democrats made in 2018 to preserve the order using the Congressional Review Act (CRA), it’s unlikely that the bill will have enough support to clear the GOP-controlled Senate. Senate Commerce Committee Chairman Roger Wicker (R-MS) — who has jurisdiction over net neutrality legislation — stated last week that net neutrality legislation would not be a priority for his committee this year. 

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Today on the Hill: Senate GOP Concedes That Resolution of Disapproval Has Enough Support to Pass

Senate Majority Leader Mitch McConnell (R-KY) admitted yesterday that the upper chamber is likely to pass a resolution of disapproval (H.J.Res 46) next week that would overturn President Trump's national emergency declaration. Leader McConnell’s remarks came after Sen. Rand Paul (R-KY) joined three other Senate Republicans — including Sens. Susan Collins (R-ME), Lisa Murkowski (R-AK) and Thom Tillis (R-NC) — in announcing he would support the Democratic measure while roughly a dozen GOP Senators remain undecided. Democrats now have the 51 votes they need to secure passage in the Senate, which would force President Trump to issue the first veto of his presidency. However, the President’s forthcoming veto would likely survive an override attempt as the measure does not have the required two-thirds majority in the House. 

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This Week on the Hill: House Democrats Look to Pass Sweeping Election Reform Bill

House and Senate lawmakers are set to begin another legislative workweek. Senators will return to action today and will resume their push to clear the presidential nominations queue starting with consideration of Allison Jones Rushing’s nomination to be a Circuit Judge for the Fourth Circuit. The Senate is also expected to take up the nominations of former Rep. John Fleming (R-LA) to be Assistant Secretary of Commerce for Economic Development, and Chad Readler and Eric Murphy to be Circuit Judges for the Sixth Circuit Court.=

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Health Policy Report

The Week in Review

Last week, Congressional Democrats made their first move in a series of legislative and legal maneuvers to prevent President Trump from circumventing Congress to fund a border wall. House lawmakers passed (245-182) a resolution of disapproval (H.J.Res 46) that would reject the President’s national emergency declaration on the southern border. While reports suggest that the House GOP is expected to largely vote against the Democratic resolution, schisms among Senate Republicans are starting to emerge as Sens. Susan Collins (R-ME), Lisa Murkowski (R-AK), Thom Tillis (R-NC), and Rand Paul (R-KY) have indicated they will join Democrats in voting to reject the national emergency declaration.

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Financial Services Report (3/4)

On Friday, the Treasury announced that it was, once again, forced to initiate "extraordinary measures" to ensure that the full faith and credit of the United States Government will not be breached.   As has been the case in the past, these actions are expected to push back the "drop dead" date for a breach of the debt limit into the summer, and perhaps even later.   With Congress also needing to re-set funding levels for the FY20 budget in order to bypass mandatory budget cuts, there are some who view the marrying of the issues as the best path forward.   Setting up those negotiations, to be even closer to the 2020 election year, especially with a President who enjoys wrapping himself in the success of the stock market, could be setting us up for another bumpy ride.    

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