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Financial Services Report

Our Take

The comedian Jerry Seinfeld has a bit about how our allegiances to our local sports teams is nothing more than rooting for laundry, and the same might be said for our politics as well.   This past week, President Donald Trump and the House Republican conference was able to cobble together a 217-213 win on their collective efforts to repeal Obamacare, however in doing so, was forced to utilize many of the same techniques that voters cite when criticizing Washington, DC, and which Republicans regularly repudiated when they were in the minority.   Perhaps, as Seinfeld wryly noted, we are not in love with the players – just the uniforms they wear.

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Health Policy Report

The Week in Review

It was a busy week in Washington that saw Congress avoid a government shutdown, House Republicans pass their health care overhaul, and the House Financial Services Committee advance a rewrite of the Dodd-Frank financial reform law.

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This Week on the Hill: With House Out, Senate Considers Air Force, FDA Nominees

After one of the busiest periods in the 115th Congress last week, this week features less dramatic legislative work as the Senate works to confirm additional presidential nominees and consider the last congressional disapprovals of administrative rules advanced by the Obama Administration. The House is away from Washington for a weeklong in-district work period.

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Today on the Hill: AHCA House Floor Vote Scheduled, Latest Whip Count Suggests Passage

After weeks of wrangling, an initial failure before the Easter recess, and the addition of two amendments to placate both the conservative and moderate wings of the party, the House is scheduled to hold a floor vote today on the American Health Care Act (AHCA) (H.R. 1628). While the vote will likely be very close, Republican leaders have expressed a high degree of optimism on passage and the fact that a floor vote has been formally scheduled signals that they are confident they will have the votes. With unanimous Democratic opposition, the bill can survive 22 Republican defections and still pass on a simple majority in the lower chamber. Whip counts from various media outlets suggest that between 16 and 20 Republicans remain in the “no” column, although that number may continue to change throughout the morning. A vote series on the legislation is expected between 1:15 PM and 3:00 PM this afternoon.

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Financial Services Report

Our Take

For the past two years, there has been a definitive “theme” to Congress.  For example, two years ago the congressional agenda was primarily driven by the plethora of legislative deadlines that needed to be met.   Last year, of course, was the election.   Now, 102 days into the current Administration, it is becoming apparent that the best way to define this Congress is like an act in four parts.  The first one ran from Jan 3rd through the President’s day recess and it mainly consisted of the ceremonial activities associated with a new session and a new administration.  The second act was the six-week work period between the end of the President’s Day Recess and the Easter Break, where both the Administration and the key players in Congress were figuring out their respective roles, and how to play them.  

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Health Policy Report

The Week in Review

President Donald Trump’s 100th day in office was met with little fanfare as a possible House vote on the Republican health care package was delayed and lawmakers punted a government funding decision, ultimately approving a weeklong stopgap spending bill on Friday to avert a government shutdown. Lawmakers have been negotiating on the omnibus package for weeks, with Democrats demanding funding be removed for Trump’s border wall and pressing for commitments from the Trump administration to continue making certain Obamacare payments to health insurers. On the healthcare front, an amendment to the American Health Care Act (AHCA) that would allow states to opt out of some consumer protections helped win the support for the bill from the hardline Freedom Caucus and influential conservative groups, but moderate Republicans continue to hold concerns and negotiations are ongoing as to how to bring them on board.

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This Week on the Hill: Spending Agreement Reached; Republicans Search for AHCA Votes

Last night, congressional negotiators reached an agreement on a spending bill that will provide government funding through the end of the 2017 fiscal year. The $1 trillion deal includes increased funds for border security and defense, two Republican priorities, as well as a permanent extension for a program that provides health benefits to coal miners. Despite the concessions, Senate Minority Leader Chuck Schumer (D-NY) called the deal “a good agreement for the American people” that avoids any threat of a government shutdown and excludes so-called “poison pill” policy riders. With the latest stopgap bill providing government funding through Friday, the compromise spending bill will likely be passed early in the week by both chambers before being signed by President Trump.

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Health Policy Report

The Week in Review

Congress enjoyed the second week of its two-week recess for the Easter and Passover holidays. Spending negotiations remained in the headlines as lawmakers planned for a funding bill to govern federal spending for the remainder of the 2017 fiscal year, and both parties prepared to battle over the decision of whether to include allocation for Affordable Care Act (ACA) cost-sharing subsidies. The Medicaid and CHIP Payment and Access Commission (MACPAC) met to review their June report to Congress, particularly their recommendation on State contingency plans should Congress fail to reallocate funding for the CHIP program. Furthermore, HHS Secretary Tom Price announced Wednesday how much states will receive in grants to help combat opioid abuse of the available $485 million in federal funding.

 

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Health Policy Report

The Week in Review

Lawmakers left Washington to start a two-week break in honor of the Easter and Passover holidays. As with a previous recess in February, numerous Republican lawmakers faced hostile receptions in town hall meetings over the American Health Care Act (AHCA) and other Trump Administration policies. The Republican plan to overhaul the Affordable Care Act (ACA) is still alive, but it remains unclear whether the White House or congressional leadership will be able to bridge the divide between the moderate and conservative wings of the party. More details on President Trump’s position is included in our roundup below.

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Health Policy Report

The Week in Review

With Easter recess calling, policymakers in Washington had a noteworthy week on both the domestic and international fronts. Starting in the Senate, Majority Leader Mitch McConnell (R-KY) “went nuclear” to confirm Supreme Court nominee Neil Gorsuch as Democrats rallied the votes to maintain a futile filibuster. With 45 Democrats opposed to Gorsuch’s nomination – mostly over his strongly conservative record and in retaliation their belief that Republicans slighted Obama nominee Merrick Garland by refusing to hold a hearing or vote on his nomination for nearly 300 days – the majority elected to change Senate rules in order to confirm Gorsuch on a simple majority. Many senators on both sides lamented the loss of the 60-vote threshold for high court nominees, fearing that future selections may be far more ideological, but no compromise solution ever truly took shape. Gorsuch was officially confirmed on Friday and will be able to hear the court’s last few cases before they adjourn in June.

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