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Financial Services Report

Our Take
After months of waiting this past week saw the return of what so many in our nation follow so closely.   That’s right, the NFL is back
 
Oh yeah, and Congress returned from a seven-week recess, much to the chagrin of staff, K Street, and perhaps even some of the Members themselves.   With members already itching to get back to their districts, and more importantly to them, their re-election efforts, dreams of a full and productive September have quickly faded.  In its place is the reality that both the House and Senate may adjourn as early as the end of this week, or perhaps by the end of next week.  With Leader McConnell making it clear that he intends to push for a short-term CR that funds the government through December 9th and the House unsure as to what it can pass, it looks like McConnell is attempting to flip the script on the House by jamming them with a “take it or leave it” deal.   Contributing to the confusion are outstanding questions over impeaching the IRS Commissioner, amendments on Syrian refugees, and whether the Freedom Caucus would be willing to agree to a short-term resolution at all. 

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Today on the Hill: CR Work Delayed in Senate; House Considers 34 Suspension Bills

Yesterday, the Senate again postponed a key procedural vote as negotiators continue to work on what riders will be included in the stopgap spending legislation. The cloture vote on the motion to proceed to the legislative vehicle for a continuing resolution (CR) is now scheduled for this afternoon, but there remains a possibility that it could be delayed again. Outstanding issues continue to be focused on the Planned Parenthood dilemma in relation to Zika funding, as Republicans want to ensure that no federal dollars are given to abortion-related activities in the fight against virus – which can cause microcephaly in unborn children. Other discussions involve whether to attach flood aid for Louisiana, a provision allowing the Export-Import Bank to make bigger loans without a quorum on its Board, a prohibition on the transfer of Internet domain oversight to an international body, and curbs on refugee allowances from Syria and Iraq – which may have renewed importance after the bombing attacks in the New York and New Jersey over the weekend. According to Sen. Chuck Schumer (D-NY), Democrats were able to secure the removal of a provision that would relax Environmental Protection Agency (EPA) standards for anti-mosquito pesticides.

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Health Policy Report

The Week in Review

Early optimism that the Senate could quickly agree upon a continuing resolution (CR) to fund the government and leave Washington at the end of the week faded as lawmakers disagreed on the policy riders to be included in the stopgap spending measure. Funding a White House request for emergency resources to be directed towards combatting the Zika virus is almost assured to be in a final package (if not passed separately and on its own), but negotiations remain on issues ranging from changing the quorum rules of the Export-Import Bank to barring a planned handover of American Internet domain oversight to an international body. Delays in the Senate schedule led some House lawmakers to suggest that the lower chamber should move first on a CR, with Republican demands for policy riders reportedly limited to a halt in the Syrian refugee resettlement program; a prohibition against money going to Planned Parenthood clinics; and a final stipulation based upon Sen. Ted Cruz’s (R-TX) plan to halt President Obama’s internet transition plan, which is scheduled to go into effect at month’s end. 

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Financial Services Report

Our Take
After months of waiting this past week saw the return of what so many in our nation follow so closely.   That’s right, the NFL is back
 
Oh yeah, and Congress returned from a seven-week recess, much to the chagrin of staff, K Street, and perhaps even some of the Members themselves.   With members already itching to get back to their districts, and more importantly to them, their re-election efforts, dreams of a full and productive September have quickly faded.  In its place is the reality that both the House and Senate may adjourn as early as the end of this week, or perhaps by the end of next week.  With Leader McConnell making it clear that he intends to push for a short-term CR that funds the government through December 9th and the House unsure as to what it can pass, it looks like McConnell is attempting to flip the script on the House by jamming them with a “take it or leave it” deal.   Contributing to the confusion are outstanding questions over impeaching the IRS Commissioner, amendments on Syrian refugees, and whether the Freedom Caucus would be willing to agree to a short-term resolution at all. 

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Today on the Hill: CR to Hit Senate Floor This Week, Early Senate Recess Possible

After meeting with President Obama yesterday, Senate Majority Leader Mitch McConnell (R-KY) is optimistic that the chamber can move forward on a continuing resolution (CR) that funds the government through Dec. 9 and leave for the election recess as early as this Friday. Senate leaders anticipate using the Legislative Branch appropriations bill (H.R. 5325) as the lead vehicle for the CR – which will include $1.1 billion in offset-free funding to combat the Zika virus – and are aiming to set up votes on the measure beginning tomorrow. The White House has said that it wants a short-term CR free of “ideological” policy riders, which is likely given the how quickly the chamber plans to consider the measure. However, provisions to help victims of recent floods in Louisiana and an extension of the EB-5 visa program are set to be included in the stopgap spending bill. While many lawmakers in competitive races will be hoping the fast-track CR will allow them to get back to the campaign trail, Senate Majority Whip John Cornyn (R-TX) is pushing for the Senate to stay an additional week to consider a possible veto override vote for legislation (S. 2040) that would change the rules for foreign sovereign immunity and allow families of Sept. 11 victims to sue the Saudi Arabian government for their citizens’ role in the attacks.  

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Health Policy Report

The Week in Review

Following the Labor Day holiday on Monday, Congress made its long awaited return to Washington for a month-long legislative period before the body breaks again ahead of November’s elections. The Senate picked up exactly where it left off in July with a partisan impasse on both a defense spending bill (H.R. 5293) and the Military Construction-Veterans Affairs appropriations measure (H.R. 2577) that includes a $1.1 billion package to fight the Zika virus. As they did over the summer, Democrats blocked votes to proceed on the measures over objections to the use of war funds to pay for Pentagon weapons programs and budgetary offsets and policy riders included in the Zika package.

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Health Policy Report

The Week in Review

While lawmakers spent the final week of summer campaigning in their districts and prepared for a sprint of a September session, Republican presidential nominee Donald Trump made a high-profile trip to Mexico, followed by speech in Arizona where he outlined a 10-point plan on illegal immigration. Standing on a stage in Mexico City – at a lectern alongside Mexican President Enrique Peña Nieto – Trump’s usually fiery rhetoric was shelved for a more tempered tone. He called the Mexicans friends while also detailing the American interest in securing the nations’ border and stopping drug trafficking.

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Health Policy Report

The Week in Review

Last week, both presidential candidates sharpened their rhetoric against each other with Hillary Clinton seeking to link Donald Trump to white nationalism and the “alternative right” and Trump responding by casting Clinton as a “bigot.” While name-calling is hardly a new development in presidential campaigns, there is little doubt that Clinton and Trump are entering uncharted territory by directly assigning labels such as “racist” and “bigot” to their opponent. With three months still remaining before Election Day, it has become clear that both campaigns have engaged in an attack strategy that centers on the candidates’ unprecedented unpopularity.

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Health Policy Report

The Week in Review

Donald Trump stayed in the headlines last week after his campaign decided to make a number of changes in their campaign structure. Steve Bannon, executive chairman of the ultra-conservative Breitbart News, was named chief executive of the campaign while Kellyanne Conaway, a senior adviser and longtime conservative pollster, was promoted to the position of campaign manager. Many analysts viewed the moves as a response to the GOP nominee’s sagging poll numbers, but the Trump team originally cast the changes as an “expansion” of the campaign’s leadership, with campaign chairman Paul Manafort slated to stay on. However, the change of direction for the campaign was confirmed when Manafort offered his resignation on Friday. Manafort, who had come under fire for his ties to the regime of Vladimir Putin, was known for trying to encourage Trump to become a more “traditional” candidate and his exit may signal the candidate’s desire to “double down” on the unconventional tactics that won him the GOP primary.

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Health Policy Report

The Week in Review

In the presidential race, nominees Hillary Clinton and Donald Trump delivered a pair of policy speeches intended to outline competing visions for the U.S. economy. The latter called for a freeze on all financial regulation, the renegotiation of major trade deals, and the implementation of a child care deduction in the tax code. In her speech later in the week, Clinton touted a plan that would make a significant government investment in infrastructure to create jobs, mandate universal pre-school and paid family leave programs, and tax the richest Americans at a higher rate. Despite the speeches, the week’s news cycle focused on controversies related to both candidates; pundits lampooned Trump over his latest inflammatory remarks – calling President Obama the “founder” of the Islamic State of Iraq and Syria (ISIS) – and questioned Clinton’s relationship with the family’s charitable organization, the Clinton Foundation, during her time as Secretary of State.  Polls at the end of the week showed Clinton maintaining a sizeable lead in most of the battleground states that will be key to November’s election.

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