Republicans Ready Fresh Hostage-Taking Operation
Republicans consider threatening government shutdown over ObamaCare. The Hill: "Senate Republicans, including two members of the leadership, are coalescing around a proposal to block any government funding resolution that includes money for the implementation of the 2010 Affordable Care Act ... An aide to [Sen. Mike] Lee said Republicans won’t be blamed for a shutdown because they will offer legislation to fund all other government operations except for those necessary to establish the new healthcare law..."
And House, Senate disagree on overall spending levels. Roll Call: "House Republicans say they are undecided so far on whether to press a simple extension at the fiscal 2013 level of roughly $988 billion for discretionary spending programs or to a stopgap bill at the roughly $967 billion level now demanded by federal law. GOP appropriators will not work with the $1.058 trillion level for discretionary spending sought by Senate Democrats..."
Sen. McCain opposes shutdown threat. W. Post quotes: “Some of my Republican colleagues are already saying we won’t raise the debt limit unless there’s repeal of Obamacare. I’d love to repeal Obamacare, but I promise you that’s not going to happen on the debt limit. So some would like to set up another one of these shutdown-the-government threats. And most Americans are really tired of those kinds of shenanigans here in Washington.”
Republicans split over spending bills. Politico: "The central premise, as sold by House Budget Committee Chairman Paul Ryan, was that Washington could wipe out deficits in 10 years and protect defense spending, all while embracing the lower appropriations caps dictated by sequestration ... Republicans on the House Appropriations Committee have been required to cut important investments in science, community development and foreign aid. Senate Republicans are peeling off in protest — setting up a crucial procedural vote at noon Tuesday on the transportation and housing budget."
NLRB Noms Ready To Advance
New picks for NLRB testify today reports W. Post.
Choices seen as "pro-union" reports Bloomberg: "Business can’t breathe easy, because [Nancy] Schiffer, 63, and [Kent] Hirozawa, 58, have views on labor issues that are similar to the positions of the candidates they would succeed, said Randel Johnson, senior vice president at the U.S. Chamber of Commerce ... 'Business faces some tough battles in front of the newly appointed board.'"
House GOP Scrambling On Immigration
House GOP moves to back DREAM Act "too little too late" for immigration advocates. US News: "Since the Senate passed a comprehensive bill that included a path to citizenship for all 11 million immigrants who are in the U.S. illegally, dreamers say they won't accept anything less from the House of Representatives ... Dreamers will gather Tuesday on Capitol Hill to protest before a hearing in the Subcommittee on Immigration, and advocate for a more comprehensive path to citizenship. They warn that ignoring the public outcry for immigration reform could have election-year consequences."
Key House GOPer proposes "unworkable" compromise on legalization. Politico: "House Judiciary Committee Chairman Bob Goodlatte recently threw a curveball into the immigration debate by floating what has been anathema to House Republicans — a pathway to citizenship for undocumented immigrants. The Virginia Republican’s idea: legalize the 11 million undocumented immigrants and allow them to apply for citizenship using ways that already exist — including marriage to a U.S. citizen or sponsorship by another relative or an employer ... [Some immigration advocates] are encouraged that Goodlatte is seeking solutions for undocumented immigrants. But others note that Goodlatte’s proposal could be legally unworkable ... Under provisions in the Illegal Immigration Reform and Immigrant Responsibility Act of 1996, it would be essentially impossible for immigrants who had been in the country illegally for more than 180 days to apply for legal status using existing avenues."
Obama supporters plan "Action August." W. Post: "[Organizing For Action] plans to target lawmakers home for the summer recess on issues such as immigration reform, gun control and the environment. The month of activities starts Aug. 4, the president’s 52nd birthday, when OFA is set to hold events around the country promoting the implementation of Obama’s health-care overhaul ... The organization also will put a special focus on immigration reform, hoping to demonstrate a wave of support as the House takes up the issue ..."
Bank Regulators Flex Muscles
Bank regulators punish high-speed trader for first time under new Dodd-Frank rules. McClatchy: "The action by the Commodity Futures Trading Commission said Panther Energy Trading LLC and its principal, Michael J. Coscia, used a computer algorithm to illegally place and cancel orders at head-spinning speeds. The practice is known as spoofing and is designed to trick other market participants. The move marked the first time regulators used new powers to combat disruptive trading practices that were granted by the 2010 revamp of financial regulation called the Dodd-Frank Act. The action , which includes a penalty and a yearlong trading ban, puts the regulatory focus on a growing and controversial segment of financial markets: the high-speed traders who are armed with technology more sophisticated than that used by the government cops who police markets."
Fed reviewing rule allowing banks to own physical commodities. Bloomberg: "The Federal Reserve’s review of its [decade-old] decision to let banks store, transport and trade raw materials signals a potential rebuilding of the wall between banking and commerce that legislation and rulemaking have eroded ... The move into physical commodities exposed the biggest banks to additional risks and allegations of price manipulation, creating potential legal liabilities and threatening to damage their reputations..."
Some Dems break from student loan deal. Politico: "The bill is expected to come up for a vote as early as Tuesday and pass with strong votes from both parties, though a number of Democrats have publicly blasted the bill, including Sens. Elizabeth Warren (D-Mass.), Bernie Sanders (I-Vt.), Jack Reed (D-R.I.) and Richard Blumenthal (D-Conn.) ... Reed and Sanders are trying to ensure that their alternative proposals get votes before agreeing to move forward ... Reed wants the undergrad cap down to 6.8 percent while Sanders wants the bill to expire while rates are still low..."
