MORNING MESSAGE
The
Congressional Progressive Caucus unveiled its fiscal 2016 “People’s Budget: A
Raise For America” one day after House Republicans released their “A Balanced
Budget for a Stronger America” proposal. The CPC touted a $1.9 trillion
investment in America’s future and over 8 million new jobs. The House
Republicans bragged about cutting $5 trillion over 10 years. The sharp contrast
between the two reflect stark differences in values and ideology – and a basic
choice of whether government will serve the many or the few.
Senate
budget to be released today, will largely track House version. McClatchy:
“…a GOP aide said the Senate proposal would resemble the House plan in three
ways. Both generally would balance the budget at the end of a decade, the aide
said, and both would build in flexibility to increase military spending. They
also envision the use of an arcane budget tool called reconciliation to make it
easier to repeal the Affordable Care Act over Democratic objections.”
But
Senate plan won’t spell out Medicare changes. Bloomberg: “The Senate will
avoid the House’s plan on Medicare … With the federal deficit easing and
entitlement cuts unpopular with voters, Republicans worry that such an approach
would damage them politically in 2016 … ‘Let’s face it, these solutions will not
be popular,’ [said] Senator Ron Johnson, a Wisconsin Republican whose seat is up
in 2016…”
House
GOP splits over defense spending, imperiling budget. Politico: “House
Republicans who back a bigger defense budget are revolting against their
leaders’ new proposal to use a separate war fund to add additional money to
Pentagon coffers … Rep. Mike Turner of Ohio … vowed Tuesday to vote against the
budget resolution and predicted many of the 69 House Republicans who joined him
last month in signing a letter seeking a defense budget boost would do the same
… a portion of the new war funding would be dependent on finding savings
elsewhere in the federal budget [that may] never actually materialize …”
And
Medicare “doc fix”. The Hill: “Some hard-liners in the GOP conference on
Tuesday said they were infuriated to learn that Boehner had been talking for
weeks with Democratic leaders about a plan to eliminate the automatic cuts to
Medicare providers … The criticism doesn’t end with conservatives. Some liberal
Democrats, as well as the AARP, are taking issue with the plan because it asks
some seniors to pay more under Medicare.”
Permanent
solution elusive, House may opt for temporary extension of highway trust fund.
The Hill: “‘States have already notified the federal government that they
will be delaying or postponing or canceling projects,’ [Rep. Peter] DeFazio
[said]. ‘I expect the number of canceled or delayed projects will only grow over
the coming weeks if we don’t have a short-term bill.’ … State and local
transportation officials … told lawmakers Tuesday that another patch now would
make it harder for them to plan long-range construction projects.”
Obama Ready To Fight GOP Budget
Obama
to campaign against GOP budget in Cleveland today. The Hill: “Obama will
deliver a speech at the City Club of Cleveland outlining a different approach,
arguing that increased spending on domestic programs is needed to ensure that
middle-class Americans see the benefits of economic growth … Obama [will] tout
his budget’s emphasis on creating manufacturing jobs … The president’s $4
trillion budget plan includes a $350 million request to launch seven new
manufacturing institutes next year … The House Republicans’ plan would slash
$5.5 trillion in spending over the next decade…”
Rich
get more tax breaks. NYT: “According to an analysis of $340 billion in tax
subsidies for housing, education, retirement and savings in 2013, the top 1
percent received about $95 billion, more than the $90 billion received by the
bottom 80 percent combined, said the Corporation for Enterprise
Development…”
Breakfast Sides
“Rahm
Emanuel’s Housing Agency Sitting On Hundreds Of Millions Of Dollars With Massive
Waitlist” scoops HuffPost: “Mayor Rahm Emanuel’s housing agency has been
pulling hundreds of millions of dollars from a fund earmarked for its affordable
housing program and using the money instead to boost its pension, purchase
government debt and build up a staggering cash reserve. … The Chicago Housing
Authority’s waitlist tops 280,000 … Some 15,000 families on the list are
homeless.”
Obama
quietly pursues global climate deal. Politico: “What he’s seeking out of the
December U.N. climate talks in Paris would create the broadest,
farthest-reaching deal in history, reworking environmental regulations for
governments and corporations around the world and creating a framework for
global green policy for decades. Republicans in Congress, sensing what he’s up
to, are already saying no. And Obama’s already preparing to sign on without
them.”
SEC
chief backs rule on brokers to put clients first. NYT: “Registered
investment advisers already fall under that higher bar, while brokers follow a
looser ‘suitability’ standard that requires them only to mind customers’ needs
and appetite for financial risk … The Obama administration backed a similar
initiative by the Labor Department to create a higher standard for brokers who
oversee retirement investments. A new standard from the commission would carry
more weight, however, since it would encompass all brokers…”
Progressive
Breakfast is a daily morning email highlighting news stories of interest to
activists. Progressive Breakfast is a project of the Campaign for America's
Future. more
»
