With me it is exceptionally true that the Presidency is no bed of roses.
-James K. Polk
PIPE DREAMS: Democrats and Republicans alike are using Trump’s nascent infrastructure plan as a way to improve the security of the electricity grid and promote pipelines and other generating sources. Senators Lisa Murkowski and Maria Cantwell are looking to streamline ways for energy infrastructure approval, funding for electric transmission capacity and security and streamlining licensing for hydropower projects. Trump’s push for infrastructure spending gives Murkowski and Cantwell air cover as they look to revive a similar bill introduced in 2016 - but failed to garner enough votes in the House.
MOVING ON?: With the dust still settling on the controversial CBO score, House and Senate Republicans are starting to come to terms with how Obamacare repeal moves forward. Maverick Senators Lindsey Graham and John McCain are waiting to make a decision until the final House bill is completed while Senator Susan Collins and John Cornyn have said the CBO report doesn’t look at the full repeal and replace effort. Republicans are starting to coalesce around the fact that the CBO report won’t entirely doom their repeal effort with Speaker Ryan leading the charge and focusing mostly on the deficit reducing aspects of the bill. But they only have another week to corral undecideds before the House is scheduled to vote.
The issue some moderates have with the current House plan:
CBO SCORE ANALYSIS | LOOKING AT THE REAL NUMBERS: Our Senior Health Policy Analyst Emily Evans provides an in-depth analysis of the CBO scorecard. She takes you deeper than the headlines to get to the real facts of the report. You can read the full analysis here.
NOT PASSING ON GAS: President Donald Trump travels to Michigan today where he will sign an executive order asking the EPA to reopen the formal review process for the greenhouse gas rules. These rules are viewed as unnecessarily expensive and revamping or eliminating them aims to help automakers who have been pushing for their repeal. The Obama era standard envisioned an auto fleet that averaged 54.5 miles per gallon by 2025, but under the new EPA these standards are likely to disappear.
AMERICA FIRST: The State Department and U.S. Agency for International Development budgets were expected to be cut by about 37% as part of Trump’s 2018 budget proposal before Secretary of State Rex Tillerson stepped in. While State will still feel major cuts, they won’t be as severe as originally intended. Though, one line item hasn’t been revised just yet: the Administration has directed State to cut more than 50% of the $10 billion in annual U.S. funding to UN programs. The fingerprints of the America First wing of this Administration are all over this soon-to-be-revealed budget.
CLEARING THE BAR: British PM Theresa May is finally free to begin talks to withdraw from the EU. The final vote was passed on Monday and was signed into Royal Assent. Now May can push forward and invoke Article 50 the last week of March. Scotland’s First Minister Nicola Sturgeon subsequently announced that she intends to hold a second referendum on Scottish independence just as the EU negotiations are reaching their conclusion. With the upcoming elections in the Netherlands, France and Germany this fall, there will be no shortage of uncertainty set across the EU.
DISPATCH FROM VIENNA: OPEC Still Optimistic Production Cuts Will Bring Market and Price Stability: Our Senior Energy Policy Analyst Joe McMonigle shares his thoughts from his meetings with OPEC members in Austria. You can read his full analysis here.
CALL INVITE / A BAT IN THE HOUSE: David French of the National Retail Federation will discuss the Border Adjustment Tax and Tax Policy on Retailers Under the Republican Congress + Trump Administration – March 17th at 11:00 AM. You can find a link to the call here.
