MORNING MESSAGE: Business Roundtable Attacks The Elderly
OurFuture.org's Richard Eskow: "Rich CEOs have used every tax loophole in the book to add to their own wealth, have been bailed out directly or indirectly by the American taxpayer, and have rigged corporate governance so that they make far more than they’re worth. Now, to make sure the milk and honey keeps flowing their way, they want to cut Medicare and Social Security benefits for the beleaguered American majority. Sounds crazy, right? Meet the CEOs of the Business Roundtable."
President Starts Gun Battle With Executive Action
President proposes slew of gun violence prevention measures, signs 23 executive orders. LAT: "They include a federal ban on the sale of military-style assault weapons, with fewer loopholes than the 1994 law that expired in 2004 ... The president also wants to reinstate an earlier ban on sales of magazines that can hold more than 10 rounds ... Obama also wants to expand the background check system to encompass all gun purchases ... Obama signed three executive orders that do not require congressional approval to enhance the tracing of weapons seized by law enforcement, provide more federal records to the background check system and foster research into gun violence."
Unclear if Sen. Harry Reid will push for whole package. The Hill: "Reid (D-Nev.), who has a long history with gun rights and the National Rifle Association, has been cagey in response to questions about how he will proceed. He knows a wrong move could cost his party its majority in 2014 ... Reid made no mention of proposals to ban new assault weapons or limit high-capacity clips after Obama unveiled them Wednesday."
Sen. Rand Paul slams executive orders. Roll Call: "Sen. Rand Paul on Wednesday night announced plans to try to undo parts of President Barack Obama’s executive proposals to curb gun violence, saying the president may be developing a 'king-like complex.' ... even though it appears none of the actions announced Wednesday by the White House would actually require a formal executive order. Instead, the White House appears to be trying to set priorities for executive agencies in terms of enforcement of gun laws."
Republicans Fear Losing House
Republicans fear losing House majority with debt limit stance. The Hill: "...several lawmakers and longtime activists warn of far-reaching political ramifications if voters perceive Republicans as botching consequential talks on the debt ceiling, sequestration and a possible government shutdown. 'Majorities are elected to do things, and if they become dysfunctional, the American people will change what the majority is,' [said] Rep. Tom Cole (R-Okla.), a House deputy majority whip..."
Republicans discuss at retreat why everybody hates them. Politico: "Speaker John Boehner’s House Republican Conference is more disliked now than when it took the majority two years ago, lawmakers and aides here found out. After taking a bruising in the 2012 elections, the Republican Party needs an image makeover and the GOP must learn to relate better to voters ... David Winston, a top GOP pollster and close adviser to Boehner, unveiled the House Republicans’ most recent favorable rating based on his own analysis: It came in at a barrel-scraping 37 percent ... Domino’s Pizza CEO J. Patrick Doyle explained to House Republicans how he remade his company’s brand."
Second GOP governor proposes scrapping income tax. ThinkProgress: "Nebraska Gov. Dave Heineman (R) became the latest Republican governor to propose the elimination of his state’s income tax during his State of the State speech last night, a move that would eliminate $2.4 billion in revenues each year. To replace the lost revenue, Heineman proposed eliminating at least half of the $5 billion in sales tax exemptions Nebraska offers annually ... Louisiana Gov. Bobby Jindal (R) and Republicans in North Carolina have also proposed replacing income taxes with increased sales taxes in their states, a move that would result in a tax cut for businesses and the wealthy while raising taxes on the poor."
Breakfast Sides
Corporate profits hit record level. Bloomberg: "U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947 ... 'I don’t think he deserves any credit,' John Engler, president of the Business Roundtable, a Washington-based association of chief executive officers, said in an interview. Economists disagree."
CFPB finalizes rules on mortgage servicers. Politico: "Mortgage servicing companies will be required to provide clear monthly billing statements, warn borrowers before interest rate hikes and actively help them avoid foreclosure ... mortgage companies will not be allowed to seek foreclosure on a person’s home while that person is trying to arrange lower monthly payments or otherwise avoid losing the home. The change will end the practice of 'dual-tracking' - pushing a borrower into foreclosure while discussing a loan modification with that borrower."
