Big jobs usually go to the men who prove their ability to outgrow small ones.
-Theodore Roosevelt
THE 63RD TIME’S A CHARM: With hours left before the House heads on recess, Reps Fred Upton and Billy Long have drafted an amendment to the AHCA that will get them to flip their votes from ‘no’ to yes. The amendment adds $8 billion to help subsidize the high risk pools that would be created by the Meadows-MacArthur Amendment. Upton could be the hero Republicans need with leadership announcing a vote today between 12:30-1 PM. The vote is going to be a squeaker, but we believe they have enough ayes to crawl across the finish line. Our Health Policy Analyst Emily Evans has an analysis on the vote here.
GASSING UP: Senators from the Great Plains states are trying to hold up a repeal of Obama Era oil and natural gas drilling rules to try and secure a vote on an ethanol policy change. During the summer months, sales of gasoline with 15 percent ethanol are banned due to volatility concerns. Senators Chuck Grassley and John Thune are leading the charge to trade a Senate vote on ethanol restrictions for a vote on a resolution that would overturn limits on methane emissions from oil and natural gas drilling on federal land. Due to the Congressional Review Act’s time limit, the methane rule would need to be overturned in the next week, giving Grassley et al. plenty of leverage.
HENSARLING’S CHOICE: House Financial Services Chairman Jeb Hensarling’s CHOICE Act has been slowly moving through his Committee’s mark-up process where Democrats threw the kitchen sink of procedural tactics to delay a vote as long as they could - including a forced reading that let Hensarling and his fellow Committee members listen to every word of the 500-page bill. Democrats also proposed amendments trying to preserve the CFPB’s independent funding, take out the CHOICE Act’s repeal of the Fiduciary Rule, and one that would halt implementation of the act until the Office of Government Ethics reviewed if any Trump appointees would benefit from the the bill. Republicans in the Committee shot each of these down, but the hours of debate have continued to push the vote closer to the upcoming recess. Now with just hours to go before House members make a beeline to the airport, we think Dems will finally give up and let the Committee vote and send it to the House floor. If all goes as planned, we will host a flash call on the prospects for the CHOICE Act this afternoon.
NO RICO IN PUERTO RICO: Puerto Rico is seeking to use federal bankruptcy-like proceedings to slash its $70 billion in debt after holding out for two years. This will be the biggest restructuring ever by a U.S. state, territory, or local government. The decade-long Puerto Rican recession, coupled with a population exodus and years of borrowing have forced the territory to ask a court to force creditors to take losses on their investments. A number of bondholders felt that a deal was within reach with Puerto Rico before a federal board intervened and blocked a potential agreement.
MIDDLE EAST PEACE: President Trump has made it one of his stated goals to see peace with Israel and Palestine and took an important first step in the Middle Eastern peace process by meeting with Palestinian Authority President Mahmoud Abbas.The main issue Abbas will again try to convey is Palestine's desire for an independent state in the West Bank, Gaza Strip and east Jerusalem, but talks between the two sides had stalled. Trump has surrounded himself with people close to Israel - including Jared Kushner whom he named to lead negotiations - so Abbas will have to make a strong case to try and sway the president, while Trump will try and get Abbas to extend an olive branch to Israel by ending payments to Palestinians who are currently imprisoned for crimes Israel feels are terroristic.
STRAIGHT PATH BIDDING WAR SPOTLIGHTS 5G CARRIER FOCUS: Our Senior Telecom & Media Policy Analyst Paul Glenchur writes that the bidding war for Straight Path Communications (STRP) highlights the shifting investment focus toward 5G ecosystem opportunities. You can find the full analysis here.
THE FINE PRINT: LITTLE REPORTED HEALTH CARE PROVISIONS IN FY 2017 OMNIBUS SPENDING PACKAGE: Our Senior Health Policy Analyst Emily Evans writes Congress is expected to approve the spending package with a few important health care related provisions worth noting. You can find the full piece here.
