MORNING MESSAGE
Education
activists are rejoicing that the latest versions of No Child Left Behind
reauthorization coursing through Congress may give struggling schools a way to
have more control over their own governance and destiny ... But if this new
flexibility comes to pass, it’s no time to take a victory lap ... As
anti-democratic pressures appear to be easing on the federal front, they are
ratcheting up in states across the country. In fact, the next form of education
“reform” may be as bad or worse than what NCLB imposed.
Hillary Speaks On Reforming Capitalism Today
Hillary
Clinton speech today to unveil policies promoting “long-term growth” instead of
“short-termism.” Bloomberg: “For the top income tax bracket, capital gains
taxes would be determined using a sliding scale … [New tax incentives designed]
to better align executives’ financial interests with boosting long-term value …
[Stock buybacks would receive] more transparency …”
Clinton
tries to lean populist without alienating donors. Politico: “[She intends to
plant] a clear flag in populist, tax-raising territory while also not deeply
aggravating many of [her] big Wall Street donors … Clinton will not pitch the
change as an effort to raise significant new tax revenues but rather as a way to
boost long-term growth … The Friday speech will not be Clinton’s big ‘taking on
Wall Street’ moment, though that will soon follow, aides say… [But the approach
is] more nuanced than the soak-the-rich and break-up-the-banks mantra of her
challengers…”
Clinton
refuses to embrace Glass-Steagall. WSJ: “In response to a question about
Glass-Steagall, she said: ‘I think it’s a more complicated assessment than any
one piece of legislation might suggest.’ … Clinton said that people advocating
for new bank rules should remember that it was not just banks, but mortgage
companies, insurance companies and non-commercial banking entities who were ‘as
big if not bigger contributors to the collapse’…”
Clinton
struggles with issues raised by “sharing economy.” The Hill: “…Clinton has
adopted a cautious approach shared by other national Democrats: She acknowledges
that policymakers should look at labor rules to reflect the way the on-demand
economy is changing work, but doesn’t tie those firms to her worries about
contractor misclassification.”
Fight
for $15 goes national. NYT: “Just this week, workers in Los Angeles County
and Washington, D.C.; employees of fast-food chains in New York State; and
members of the University of California staff all learned that they may soon be
earning at least $15 an hour … Republicans and many business owners are dead set
against it … [Sanders] introduced a bill on Wednesday that would raise the
federal minimum wage to $15 an hour … Martin O’Malley of Maryland has also
voiced support for a $15 federal minimum … [Clinton] stopped short of endorsing
a $15 hourly minimum …”
Jeb Bush Attacks Medicare As We Know It
Jeb
Bush says he wants to “phase out” Medicare for younger workers and “move to a
new system.” WSJ: “On Thursday, at a town hall meeting in Gorham, N.H., Mr.
Bush was confronted about his Medicare plan. ‘I paid into it to it for all these
years just like all these other seniors here and now you want to take it away?’
a woman asked … Mr. Bush called Medicare an ‘actuarially unsound healthcare
system’ and Social Security an ‘underfunded retirement system.'”
Sanders
takes aim. The Hill: “‘It is an indication of how far right-wing the
Republican Party has become when its “moderate” candidate, Jeb Bush, at a forum
sponsored by the billionaire Koch brothers, is now talking about phasing out
Medicare,’ Sanders [said.]”
Bush
also calls for end to energy subsidies. NYT: “…Bush was captured on video
saying that the United States should phase out tax credits that subsidize the
wind, solar, oil and gas industries and allow market forces to lower the cost of
energy.”
Bush
aides say “Democrats were taking him out of context.” Bloomberg: ” Bush
never said he wanted to replace Medicare, spokesman Tim Miller argued, adding
that the former governor was referring to the changes … such as increasing the
retirement age and means testing to make wealthier Americans pay more … when he
talks about eliminating ‘credits’ for energy, that’s likely to have a
disproportionate effect on renewable sources. Solar and wind energy producers
get their tax benefits in the form of tax credits. Oil and gas producers
typically don’t…”
Transportation Bill Tweaked
Social
Security cut dropped from Senate transportation bill. The Hill: “Senate
Majority Leader Mitch McConnell (R-Ky.) persuaded 14 Democrats to switch their
votes [by agreeing] to scrap an offset that would have raised $2.3 billion by
stopping the payment of Social Security benefits to people with felony
warrants.”
More
changes, votes expected. Roll Call: “…two Democratic sources said the base
text of the Senate’s highway bill would be further revised to strike an offset
related to the Hardest Hit Fund under the 2008 Troubled Asset Relief Program.
The inclusion of that provision had drawn the ire of senators from states with
particularly high levels of foreclosure. Further changes are possible until the
Senate formally proceeds to the vehicle. That vote’s expected Friday
morning.”
Some
Dems still unhappy with revenue measures. The Hill: “[Rep. Joseph] Crowley
[objected to] a provision in the Senate bill that would generate $1.9 billion
for roads by extending guarantees on mortgage-backed securities [saying] the
fees will result in people paying more for their mortgages … Democrats said
Republicans are trying to avoid the reality that the gas tax needs to be
increased to help pay for roads.”
Climate Regs Will Save You Money
New
report finds pending EPA climate rules will lower energy bills. The Hill:
“Sates can significantly lower electricity bills for consumers and businesses if
they take the right steps in complying with the Obama administration’s climate
rule for power plants … Synapse Energy Economics analyzed what would happen if
states focused their efforts on expanding carbon-free energy production and
energy efficiency programs … ‘2030 bills are expected to be $35 per month lower
than in a business-as-usual … scenario…'”
Offshore
wind coming to RI. NYT: “It is a much more modest beginning than was
originally expected. Only five turbines will spin in the waters off Rhode
Island; other, more ambitious projects like Cape Wind in Nantucket Sound and its
130 turbines remain stalled. But its backers see it as one that could lend
credibility to other efforts.”
Progressive
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