Spending Talks Near Completion
Senate passes 5-day patch to keep government open. Politico: "The five-day continuing resolution, approved by voice vote, lasts through Wednesday. The House is expected to follow suit on Friday with an identical stopgap measure."
Deal on spending and taxes expected Monday. The Hill: "Sen. Barbara Mikulski (D-Md.), a member of the Appropriations Committee, said negotiators are making progress on whittling down policy amendments. 'We were down to 42,' she said. 'I think we could squeeze it to 35.'"
Could include energy compromise. The Hill: "Lifting the decades-old [crude oil] export ban has been a top energy priority for Republicans for more than a year ... Democrats, viewing the ban as a valuable bargaining chip, are demanding plenty in return ... talks have largely centered on how long the renewed tax incentives for wind and solar power would last."
And Obamacare changes. The Hill: "... expected to be in the package: a two-year delay of the “Cadillac tax” on high cost health insurance and a two-year suspension of the excise tax on medical devices. But sources say a one-year suspension of the Health Insurance Tax, also known as the 'premium tax,' in 2018, is also in the mix."
Some Dems nervous about Obamacare provisions. The Hill: "... even as most supporters of the law say they’d support a two-year delay of both taxes, some Democrats say they’re worried that it will only empower opponents to chip away at the law — jeopardizing its long-term fate."
McConnell Warns TPP May Not Pass Senate
Sen. Majority Leader Mitch McConnell says TPP shouldn't get a vote until after election. W. Post quotes: "It certainly shouldn’t come before the election. I don’t think so, and I have some serious problems with what I think it is ... I think the president would be making a big mistake to try to have that voted on during the election. There’s significant pushback all over the place ... The next president, whoever that is, will have the authority to either revisit this one, if it doesn’t pass, or finish the European deal or other deals, and give Congress a chance to weigh in on it."
Republicans unhappy with tobacco provisions. The Hill: "...McConnell has expressed support in the past for trade, he has warned the White House not to target tobacco growers in a final deal. The deal includes a provision that gives countries more power to regulate manufactured tobacco products, such as cigarettes, as part of any efforts to protect public health ... The White House has argued that the tobacco provisions are narrowly focused on health issues and don't affect the trade of tobacco leaf. But the move has already led to the loss of Republican votes on both sides of the Capitol."
Climate Talks Will Extend To Weekend
New draft expected Saturday. AP: "The talks had been scheduled to wrap up Friday. But after tense overnight negotiations, French Foreign Minister Laurent Fabius postponed and said he is aiming to have a final draft Saturday morning that could be adopted by Saturday afternoon ... Some delegates said a new draft accord presented late Thursday by Fabius allowed rich nations to shift the responsibility to the developing world."
How will markets react? NYT: "...experts said the ultimate measure of success of the agreement will be whether it sends a clear signal to global financial investors that they should move money away from fossil fuels and toward clean-energy sources ... But the [current] draft dodges the issue of how countries would monitor, verify and report their levels of planet-warming pollution ... Without that certainty, investors will be skittish about shifting to renewable energy."
"Sanders wants to put price on carbon pollution" reports The Hill: "The Vermont Independent senator, who is running for the Democratic presidential nomination, has introduced legislation that would require fossil fuel producers to pay for the carbon they emit starting at $15 per ton in 2017."
