Mike and Co. — As you may have seen, a little bombshell tucked away in the Bush tax plan released September8 — initially overshadowed by the provision ending the special treatment of carried interest — went without comment for almost a week: the proposed end of the business interest deduction… It is a much bigger deal by any measure. Best, Dana …
Mike and Co. — A quick preview today of the week’s main event — the Fed’s decision following the FOMC meetings tomorrow and Wednesday on whether or not to maintain the federal zero interest rate policy in place since 2008. The announcement is expected Thursday. We’ll take a look at the decision and the reaction …
Mike & Co. — With the Iranian Nuclear Agreement exiting center stage on the Hill in short order, attention will now turn to the biggest and most symbolic fiscal and financial policy debate of the year, with deadlines looming on the FY 2016 budget this month and on the debt limit a couple of months …
As you know, Jeb Bush delivered a comprehensive tax reform proposal in a speech in North Carolina and op-Ed in the Wall Street Journal yesterday. The headline provisions may be familiar by now and they will likely help raise and frame the debate on tax and related issues for the much of the campaign Bush’s …
A look today at one of the most vexing and vied over Dodd-Frank rulemakings — actually two of them — the new Fiduciary Rules on the standard of care owed by brokers to customers, years in the making at the SEC and DOL but likely to see final agency action this fall. Dana ———- Status …
Mike and Co. — I hope you are well and had a change to get away during August. With Congress back in session, I’m resuming the daily write-ups of legislative developments in fiscal and financial policy. Following the write-up is a list of issues I plan to cover in the coming days. As always, thoughts …
Yesterday in midtown, 350 creditors, mainly hedge funds and money managers, gathered to hear from Puerto Rico Governor Alejandro García Padilla, who had announced two weeks ago that the Commonwealth is no longer be able to service its $72 billion debt. But Padilla promised them only that the government would soon offer formal recommendations for restructuring the debt outside …
Good catching up with you yesterday, Mike, and getting to meet and chat with you, Ed. Jake, sorry I missed your appearance at the Yale Club tonight. The Shelby bill was included as a rider on the Financial Services appropriations bill approved at a Senate Appropriations Subcommittee markup this morning. The full committee votes tomorrow. Dana ———- …
Hi Mike — I’d thought about sketching out the debt crisis in Puerto Rico and the policy options and prospects for relief or restructuring, but HRC “preempted” that, speaking to the issue earlier today and advocating access to Chapter 9 bankruptcy for the Commonwealth. If you want this issue tracked at all, I can come back …
Hi Mike — The House passed HFT as predicted yesterday, by a vote of 312-119, reauthorizing surface transportation programs through December 18 at $8.1 billion, paid for with seven revenue provisions. 132 Democrats supported the bill but 180 opposed it, most objecting to another temporary HFT re-up. Sen. Cruz is threatening to filibuster the bill in the Senate next …
