Update 182: House Passes CHOICE Act; Ball is in Senate Banking’s Court Now A couple of hours ago, the U.S. House adopted HR 10, Financial CHOICE Act of 2017, by a vote of 233-186 — without a single Democrat — in the opening bid on the most sweeping financial (de)regulatory bill in the 115th Congress. No one expects a bill …
Update 181: House OLA Repeal Vote; Hensarling’s Bid to Reform Dodd-Frank Tomorrow, House Financial Service Chair Jeb Hensarling will get his vote on HR 10 — the Financial CHOICE Act of 2017, a measure to undo much of Dodd-Frank, with little support beyond fellow House Republicans. After heated debate within the party, the GOP last week …
Update 180 — Lights, Camera, Inaction Now Playing: No Country For Tax Reform Lost in the din and clatter of all things Russia last week was a House Ways & Means hearing that showcased the coming attractions of a feature-length Congressional GOP tax production. But no mention was made of a release date beyond “this …
Update 179 — Trump’s FY18 Plan: The Skinny on a Skinny Budget The scale of the media coverage of the Trump administration’s FY18 budget proposal released today belies the future on the Hill for the plan, which is more message than legislative matter. The scale of domestic spending cuts in the proposal is staggering and unprecedented — $3.6 trillion over …
Update 178: This Week in Senate Banking Mnuchin Rule & DFA Regs Debated The ongoing if not metastasizing Russian cluster continues to draw the oxygen out of Washington, leaving little room for the forgotten economy. But despite mounting signs the Trump economic policy agenda may be legislatively stillborn, especially on the big-ticket economic items, there …
This Week in Senate Banking Mnuchin Rule & DFA Regs Debated (May 20) Read More »
Update 177 — Hensarling’ CHOICE: A Reckless Response Though many of us are distracted by the Comey cluster, we also know there’s likely to be a vote in the House this month that would repeal and replace almost all of the the systemic risk provisions of Dodd-Frank. Last week, the House Financial Services Committee spent three …
Hensarling's CHOICE: A Reckless Response (May 9) Read More »
Update 176: Trump’s Income Tax Avoidance Plan All of 200 words and 7 numbers, President Trump’s one-pager tax plan released this week generated scores of lengthy news articles and analysis in the last three days, each pounding out the rates, revenues, arrears and the ramifications of this bare-bones proposal. Given the limited scope of the …
Update 175: Hensarling Bill Gains Weight Unexpected Hrg. on Bill this Wednesday When Congress returns next week from its two-week recess of town halls and special elections, its attention will turn to the tasks of extending the current FY 17 CR or risk a government shutdown when the CR expires at midnight on Thursday. Less attention …
Update 174 — Recess Reading Ex-Im: Rep. Garrett to Run the Bank? The relief of the recess will soon give way to the resumption of hostilities on the Hill. Those in the states and districts are seeing the hostilities up close. Much of the Congressional version of it is self-inflicted. Take the Export-Import Bank. Trump …
Update 173: Hensarling Aims at DFA New Bill Expands Reach of CHOICE Act Yesterday, Jeb Hensarling, Chair of House Financial Services, announced that he had beefed up his Financial CHOICE Act to eliminate not only key Dodd-Frank, but also Sarbanes-Oxley, even JOBS Act regulations. Hensarling 2.0 proposes major structural changes to the CFPB and the SEC. The …
