House Hints At Jobless Aid Compromise
House may add business tax breaks to unemployment insurance extension. Roll Call: "[House Rules Chair Pete] Sessions said the five-month extension could serve as a partner for House-passed bills and other priorities, such as a permanent extension of so-called bonus depreciation for business investment ... any potential action on a House GOP alternative likely would come after the two-week April recess ... Rep. Dave Reichert, R-Wash., another tax writer, the jobless aid package could be a vehicle for measures aimed at helped the unemployed get work, as well as extensions of expiring tax breaks."
Teen unemployment at crisis levels. National Journal: "The employment rates for teenagers, ages 16 to 19, plummeted from 45 percent in 2000 to just 26 percent in 2011 ... That's the lowest rate of teen employment in the post-World War II era ... teens whose parents made less than [$40,000], were employed at rates of less than 20 percent ... Study after study shows that early work experience helps teens and young adults build confidence and pick up crucial soft skills, like how to arrive at work on-time and not irritate one's boss."
Republicans Rebuff Equal Pay
Republicans don't care who knows they oppose paycheck fairness. Politico: "...the GOP seems perfectly comfortable killing the bill, risking legions of negative headlines and coordinated Democratic attacks on the GOP as a party out of touch with women. Republicans argue the bill is unnecessary, given existing pay laws, and will increase litigation rather than encourage pay equity between men and women."
"Republicans kiss votes from women goodbye" says W. Post's Dana Milbank: "It takes chutzpah to observe Equal Pay Day by sacking the low-wage employee you’ve been snogging ... Republicans aren’t responsible for [Rep. Vance] McAllister any more than Democrats are to blame for Anthony Weiner’s weirdness. But for Republicans, who have a big disadvantage among unmarried women, this reinforces a perception."
GOP Faces Defections For Ryan Budget
Ryan budget vote expected to be "razor thin" reports The Hill: "More than 10 Republicans are expected to reject Rep. Paul Ryan’s (R-Wis.) budget blueprint, and many others remain undecided ... Republican leaders can only afford 16 defections..."
Debate underway on House floor. W. Post: "Ryan (R-Wis.), in his final year as House Budget Committee chairman, opened [Tuesday] what will be three days of debate before final passage by hailing his last fiscal blueprint as one that 'sets priorities' and makes tough choices on entitlement programs ... Democrats have made the document from the GOP’s 2012 vice-presidential nominee a centerpiece of their fall election strategy, arguing that the proposal illustrates how Republicans would behave if they controlled the House and Senate. They have accused the GOP of catering to rich industrialists — such as David and Charles Koch..."
Reid Postpones Minimum Wage Vote
Minimum wage vote delayed. The Hill: "Senate Majority Leader Harry Reid (D-Nev.) announced Tuesday that a vote to raise the federal minimum wage to $10.10 an hour will not take place for another three weeks ... Reid said there were other things that needed to be done in the Senate, but the delays also highlight Senate Democrats’ inability to gather their caucus’s 55 votes in support of the wage hike ... Some centrist members of the Democratic caucus are exploring a possible compromise with Sen. Susan Collins (R-Maine) to raise the minimum wage to something below the $10.10 endorsed by Obama and most Senate Democrats."
Robert Reich offers 7 reasons why minimum should be $15: "A $15/hour minimum won't result in major job losses because it would put money in the pockets of millions of low-wage workers who will spend it ... A $15/hour minimum is unlikely to result in higher prices because most businesses directly affected by it are in intense competition for consumers, and will take the raise out of profits rather than raise their prices. But because the higher minimum will also attract more workers into the job market, employers will have more choice of whom to hire, and thereby have more reliable employees -- resulting in lower turnover costsand higher productivity."
Breakfast Sides
Immigration continues to divide GOP, notes LAT's Doyle McManus: "Unless House Republicans pass some kind of immigration bill, 2016 is going to be a tough year for any GOP presidential candidate. But if they act too soon, some of the conservatives they need to turn out for this year's midterm elections might stay home. So, naturally, some Republicans are urging Boehner to wait until next year. But there's no guarantee that next year will be much easier."
New rules on banks will force greater capitalization. Bloomberg: "The biggest U.S. bank holding companies will need to round up as much as $68 billion more in loss-absorbing capital under supplemental leverage ratio rules adopted by regulators in Washington today ... they [will need to] meet a demand to hold capital equal to at least 5 percent of total assets. The rules designed to curtail financial-system risk surpass the 3 percent minimum set in a global agreement by the Basel Committee on Banking Supervision ... The rule was approved by the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency."
