Mike & Co., House Appropriations cleared an FY17 spending bill today that would limit SEC and IRS funding, block financial regulations, and add a new section to the bankruptcy code. Today’s voting also included an amendment that restricts CFPB funding for its Pay Day Loan rules until the organization submits a report to Congress on …
Mike & Co. — It’s all over but the shouting tonight — de facto, de jure, including superdelegates, excluding them, counting raw vote or states won — by any reasonable measure, at long last, the contest is over. It’s easy to believe, it’s hard to believe, but it is undeniably a historic moment. From the sublime …
Mike & Co., President Obama took Donald Trump’s proposals to weaken Wall Street reforms to task and defended his own economic record in a speech Wednesday in Elkhart, Indiana — RV capital of the world and the first city he visited as president in 2009 The speech is notable as roadmap for Democrats touting the recovery …
Mike & Co. –- As we turn the corner into summer, the FY2017 budget making process thus far this year looks very familiar — appropriations bills are readied for House consideration even without a finalized budget resolution to guide them. The Senate has begun to replace the text in older appropriations measures from last year, …
Mike & Co. — Yesterday, the Senate Banking Committee reported a set of five nominees out –- next they’ll face a Senate confirmation, perhaps through an expedited process. The Democratic rebellion at the SEC nomination hearing in Committee last month, during which Sens. Warren, Schumer, Markeley, and Menendez blocked these very nominations in protest against …
Mike & Co. — Defying a tradition dating back to 1976, presumptive GOP presidential nominee Trump has continuously flipped his answer about whether will or won’t release his tax documents, saying at times absolutely yes. Or would never dream of it. Or really wants to but really can’t just yet. While we wait, we have a …
Mike & Co., Word this afternoon is that Senate Banking will take another shot at a conformations votes for five regulatory nominees, including two for SEC commissioner, perhaps as soon as this week. This follows an aborted April 7 vote, in which four Democrats (Schumer, Menendez, Warren, and Merkeley) withheld support for their own party’s …
Mike & Co. — Returning to taxes before we re-return to tax returns and the eternal audit, we look at a bill gathering support in the Senate — a Democratic priority for close to a decade that everyone from Pres. Obama, Sen. Sanders, Jeb Bush and even Donald Trump has endorsed. No one thinks it …
Mike & Co. — April showers in May provides an excuse for a tax focus this week. How many know that the federal tax code had a provision allowing large firms to write off the bulk of their executives’ wages? Section 162(m) of the Code has a loophole letting “performance-based” compensation to be claimed as business …
Mike & Co. — During the lull on the Hill with the Senate in recess this week, attention shifted to the regulatory front, with two agencies making news with major proposed rules addressing issues at opposites ends of the financial industry spectrum. On Tuesday, the Fed issued the long-awaited rule on the treatment of qualified …
