Dems In Trade Fight
Dems divide over fast-track. The Hill: "Reps. Rosa DeLauro (Conn.) and Louise Slaughter (N.Y.) have been two of the loudest voices in the Democratic chorus against trade promotion authority (TPA) and say they are optimistic they can block the trade agenda. ... Speaker John Boehner (R-Ohio) said earlier this month that the legislation will need at least 50 Democratic votes ... The White House is lobbying about 80 potentially trade-friendly Democrats. But critics say any bill would be lucky to get the backing of 20."
USTR Michael Froman defends fast-track. Politico: "'TPA [fast-track 'Trade Promotion Authority'] puts Congress in the driver’s seat to define U.S. negotiating objectives and priorities for trade,' Froman said in a speech to the U.S. Conference of Mayors ... 'It clarifies and strengthens public and congressional oversight by requiring consultation and transparency throughout the negotiating process ... It makes clear to our trading partners that the administration and Congress are on the same page in negotiating high standards in our trade agreements ...'"
Treasury Pushes Corporate Tax Reform
Treasury Secretary outlines possible corporate tax reform. The Hill: "...Lew cited the administration’s desire to get the top corporate rate down to 28 percent, with manufacturers getting a 25 percent rate. Congressional Republicans are themselves seeking a 25 percent corporate rate, and Lew noted that both parties want to overhaul an international system that only taxes multinationals on offshore profits when the money is brought back to the U.S ... Both Lew and senior congressional Democrats have no interest in lowering the top individual rate, which was raised to almost 40 percent shortly after Obama captured a second term ... But that’s likely a tough sell for both Republicans and the so-called pass-through companies."
Some economists say corporate tax reform could hurt economy. Politico: "When Congress’ budget referees last year estimated the macroeconomic effects of a tax reform plan by then-House Ways and Means Chairman Dave Camp ... [they] found the growth bump was mostly because of changes Camp had made for individual taxpayers. The impact on the corporate side was much more ambiguous [and] would actually raise the cost of making business investments."
Republicans Struggle With Ideas To Solve Inequality
Republicans forced to address wealth gap. NYT: "Just acknowledging a wealth gap represents a significant shift in language for Republicans, who have long held that market forces driving overall economic growth will ultimately yield higher incomes without any help from government ... most Republican counterproposals have been modest. [Rep. Paul] Ryan has embraced expanding the earned-income tax credit ... Senator Mike Lee of Utah and Representative Martha Roby of Alabama, both Republicans, reintroduced legislation to expand workers’ choice between paid overtime and comp time, a proposal pitched as an assist to working families but opposed by unions as an attack on the 40-hour workweek."
Sen. Warren urges Supreme Court not to decimate fair housing law, in W. Post oped: "As the [2008 financial] crisis demonstrated, we need stronger fair housing laws, not weaker ones that allow lenders to return to the risky — but lucrative — practices that set the stage for the last crash. But the big financial institutions want access to those profits — no matter the risks ... The giant corporations that these groups serve are hoping that limiting a basic civil rights law will give them new ways to tilt the playing field even more steeply against hardworking families."
Anti-austerity party poised to win Greek elections Sunday. Bloomberg: "Two separate surveys by the Alco and Rass polling companies published Wednesday inAthens showed a lead of as much as 4.9 percentage points for Syriza, or the Coalition of the Radical Left ... Greece’s next government will have to decide on extending the international bailout program that expires at the end of February ... While voters are attracted by a Syriza platform which includes opposing the terms attached to the aid, investors have been spooked by the implications..."
Breakfast Sides
"Majority of Senate says climate change is real and human-driven" reports the Washington Examiner: "Fifty senators ... agreed that climate change was real, human-induced and solvable on Schatz's amendment [to the Keystone bill], though it failed because it needed 60 ... The Republicans who backed the amendment were Lamar Alexander of Tennessee, Kelly Ayotte of New Hampshire, Lindsey Graham of South Carolina, Mark Kirk of Illinois and Susan Collins of Maine ... A separate amendment from Sen. John Hoeven, R-N.D., that also said climate change was occurring and humans contributed to it — though without the word 'significantly,' as Schatz's amendment said — narrowly failed by one vote, a result that Hoeven aided by switching his vote against the measure. Fifteen Republicans voted for the amendment ... the Senate voted 98-1 to approve [Sen. Sheldon] Whitehouse's amendment that said climate change was 'real and not a hoax,' largely because it lacked the caveat that humans caused it."
The American Prospect's Julian E. Zelizer recounts when congressional liberals were organized: "Since 1994, congressional liberals have failed to replicate a powerful, independent organization like the Democratic Study Group ... the DSG lobbied the Democratic leadership to appoint liberals to serve on influential committees, to support procedural reforms that would weaken committee chairmen, and to back legislation to expand the role of the federal government. The DSG regularly assembled task forces to develop legislation on key issues. The leaders created their own whip system ... They produced and disseminated first-rate research for members and the press ... this kind of information was both novel and crucial, since so much of the legislative process was secretive and committee chairs retained tight control over staff and data."
Republicans ponder immigration escape routes. Politico: "Among the possible Plan B’s: Republicans could pass a new bill to beef up security at the U.S.-Mexico border. They could sue to overturn Obama’s unilateral protections for millions of undocumented immigrants. Or they could pass yet another short-term DHS funding measure, giving the GOP more time to approve a strategy."
