Candidates in both parties are gearing up for an historic midterm election as voters will head to the polls and cast their ballots today. The 2018 midterms are widely viewed as a referendum on President Trump’s first two years in office — a dynamic that provides opportunities and challenges for both parties.
Continue reading “Today on the Hill: Voters Head to the Polls for Historic Midterm Election”
The Week in Review
House and Senate lawmakers long ago abandoned Washington to hit the campaign trail. 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 of Michelle Bowman to be a member of the Board of Governors of the Federal Reserve.
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.”
Continue reading “TRP’s Rosenstock Quoted in AP Article on Economic Impact of the Midterms”
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.
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."
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.
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.
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.
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.
Continue reading “Today on the Hill: Senate Set to Chip Away at Presidential Nominations”
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.
