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No Funding Deal In Sight

Four days until shutdown deadline. Politico: “While senior Republicans are confident they will reach an agreement on the yearlong funding measure at some point, it appears increasingly likely that no deal will be in place by the Friday Dec. 11 deadline, meaning a short-term spending bill will have to be enacted in order to avoid a repeat of the 2013 shutdown … both sides were still battling over policy riders as of Sunday afternoon…”

Eventual deal may include energy compromise. Politico: “…Democrats are strongly considering … an end to the U.S. oil exports ban … for a host of tax credits, including for clean energy … At the moment, though, Democrats’ asking price for lifting the export ban looks higher than the GOP wants to pay.”

“…talks over the spending and tax packages had become increasingly intertwined…” reports W. Post.

Dems divide over tax package. The Hill: “[Sen. Harry] Reid and the White House want to permanent extend three tax credits at the core of the stimulus bill: the child tax credit, the earned income tax credit and the American Opportunity Tax Credit for college expenses. To win over GOP support, Reid is offering to make permanent two major business tax breaks backed by the GOP … [But] it’s dissent within Reid’s own caucus that threatens to derail the talks [because] cost of the tax package is getting pricey.”

W. Post’s Jared Bernstein sees win in poverty fight: “… adding anti-poverty policy to an unpaid-for [business tax break] package that would have passed regardless … is a big plus. But no one should confuse this package with responsible fiscal governance.”

Clinton Takes On Wall Street, Sanders Tackles Climate

Hillary Clinton lays out Wall Street reform strategy in NYT oped: “My plan proposes legislation that would impose a new risk fee on dozens of the biggest banks … strengthen the Volcker Rule by closing the loopholes that still allow banks to make speculative gambles with taxpayer-backed deposits. And I would fight to reinstate the rules governing risky credit swaps and derivatives at taxpayer-backed banks …”

Bernie Sanders lays out climate protection strategy. Reuters: “The Vermont senator’s plan envisions 10 million new jobs in clean energy such as wind, solar and geothermal power. It would ban oil and gas lobbyists from working in the White House, end new fossil fuel lease sales on public lands, and would cut carbon emissions faster in coming decades than the goals set in President Barack Obama’s clean power plan.”

Wall Street Seeks Mortgage Industry Takeover

Wall St. aims to sideline Fannie Mae and Freddie Mac. NYT: “While the big banks’ effort to enshrine their vision into law has failed so far, plans to replace Fannie and Freddie — which have long supported the housing market by playing a unique role as so-called government-sponsored enterprises, or G.S.E.s — are still very much alive. The Obama administration has largely embraced the idea, and government regulators are being pushed to put crucial elements into effect. A review of lobbying records, legal filings, and internal emails and memorandums, as well as housing officials’ calendars and White House and Treasury visitor logs, illuminates the banks’ effort.”

Sen. Elizabeth Warren hits road to retake Senate. Boston Globe: “…she has headlined a fund-raiser in New York City for Ohio Senate candidate Ted Strickland. And she has endorsed in four of what’s shaping up to be the nine closest Senate races. The Democratic Senatorial Campaign Committee, the arm of the party focused on retaking the Senate, has invoked her name 21 times in fund-raising e-mails since April — once highlighting her four times in a single day.”

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