Iran Deal Forged
Nuclear deal struck with Iran. NYT: "It will require Iran to reduce its current stockpile of low enriched uranium by 98 percent [and] extend to a year the amount of time it would take Iran to make enough material for a bomb should it abandon the accord and race for a weapon ... after the first decade, the breakout time would begin to shrink ... Verification measures ... would 'stay in place permanently.'"
Not much Republicans can do about it. Bloomberg: "Obama could veto [any disapproval] resolution, and the House and Senate would each need a two-thirds majority to override his veto. The top Republican on the issue, Tennessee Senator Bob Corker, has said it would be difficult to get enough votes for an override."
Hillary Unveils Economic Vision
Hillary Clinton articulates vision of a "growth and fairness economy." NYT: "...Clinton did forcefully denounce fraud and manipulation of currency in the financial sector and said there could be 'no justification or tolerance for this kind of criminal behavior,' language that some of her top Wall Street backers had been told of in advance. But Mrs. Clinton also appealed to the private sector and Wall Street to work with the government to help lift middle-class wages through long-term investment in employees rather than focus on quarterly results."
What she didn't say. Bloomberg: "Clinton offered no suggestions Monday that she would support rebuilding the wall between commercial and investment banking that her husband eliminated while in the White House ... Sanders filed a Senate bill earlier this year to break up the big banks ... Clinton skirted the issue entirely, getting closest when she said that 'too big to fail' remains a problem. That frustrated at least one supporter with Wall Street ties."
Scott Walker Starts Campaign With a Gaffe
Scott Walker begins presidential bid by calling minimum wage "lame." W. Post: "Walker's comment came in a lengthy interview with Fox News's Sean Hannity immediately following a speech formally announcing his entrance into the 2016 presidential race ... 'The left claims that they're for American workers and they've just got just really lame ideas — things like the minimum wage,' Walker said."
One day earlier, signed budget downgrading all "living wage" laws to "minimum wage." HuffPost: "The change means minimum-wage Wisconsin workers will earn nearly $6,000 per year less than what the Massachusetts Institute of Technology calculates is a living wage in the state."
Bipartisan Push For Repatriation
Repatriation bill coming soon. LAT: "A bipartisan proposal, to be introduced soon in Congress, would tax the estimated $2 trillion in foreign profits held by U.S. corporations in overseas accounts, but at a much lower rate than the current 35% levy. The tax would generate tens of billions of dollars for the federal Highway Trust Fund, which will run out of money at the end of the month ... it is likely to be lower than the 14% that President Obama had proposed early this year ... details might not come until the fall, because [Sens. Rob] Portman and [Chuck] Schumer still must draft legislation ..."
House may move on highway bill this week to block Ex-Im Bank. The Hill: "[House Majority Leader Kevin] McCarthy is hoping to pass the highway bill with a 'big suspension vote, so big that it would jam the Senate,' said Rep. John Fleming (R-La.) ... 'Because if the Senate originates the bill, it could have the Ex-Im Bank. It’s all about Ex-Im Bank — how do we avoid getting a vote on the Ex-Im Bank?'"
