NOT WASTING ANY TIME...
The second Donald Trump finishes his oath of office he better have a pen handy. Congressional Republicans are getting ready to to spend the time between their swearing-in on January 3rd and the presidential inauguration January 20th passing legislation so Trump can sign legislation immediately upon taking office.
Republican lawmakers want to have the ACA repeal ready for Trump as he takes office. And then pivot and immediately move on to his cabinet nominees. The action won’t stop there. Plans for tax reform, regulatory rollbacks and an infrastructure bill are all being designed for Trump’s early months as president. Did we mention Congress will be working four-to-five days a week again?
STATE OF PLAY
Former MA Governor Mitt Romney is still in the lead to become the nation's top diplomat as former Utah Governor Jon Huntsman and former General David Petreaus have fallen down on the list. Trump has added more candidates:
- ExxonMobil CEO Rex Tillerson
- Retired Navy Admiral James Stavridis
To a list that already includes...
- Former NYC Mayor Rudy Giuliani
- Tennessee Senator Bob Corker
- John Bolton, former ambassador to the UN
Romney’s courtship of Trump has not yet amounted to a nomination. But he has remained the frontrunner as the competition continues to rise and fall. Nonetheless, we think this is the most consequential pick Trump will make. Many Hill allies are hoping it comes sooner than later.
DOUSING DODD-FRANK
Now that Trump has nominated Steve Mnuchin as Treasury Secretary, the effort to roll-back Dodd-Frank will begin in earnest. Mnuchin’s primary concern? He wants to strip back the parts of the financial regulatory bill that inhibit banks from lending. He believes the rules for qualified mortgages are too restrictive and are burdensome for smaller, community banks. The tag team of Mnuchin and Financial Services Committee Chairman Jeb Hensarling all but ensures a bleak future for the contentious law.
EARLY RUMBLINGS FROM THE FREEDOM CAUCUS
The House’s high over repealing Obamacare may be short lived as the Freedom Caucus already has a problem with the plan. Republican leaders were hoping for a three-year phaseout of the current healthcare plan, but the conservative wing of the party says that it needs to be rolled back during the 115th Congress. The two-year plan is what Republicans rallied around last year when they send a reconciliation bill to President Obama’s desk.
Even though we expect more of the same from the Freedom Caucus, plans to hire a policy staffer devoted to their causes guarantees that they’ll do more than just object in the future.