6/22/2023 0 Comments The moneyhouse‘Our hostage’ - How is the House GOP’s far-right flank feeling right now? Rep. Register now for continuing updates and to be a part of this momentous and program-packed day! From the blockchain, to AI, and autonomous vehicles, technology is changing how power is exercised around the world, so who will write the rules? REGISTER HERE. GET READY FOR GLOBAL TECH DAY: Join POLITICO Live as we launch our first Global Tech Day alongside London Tech Week on Thursday, June 15. Rep Garret Graves, one of McCarthy’s negotiators with the White House, told reporters that “there is a significant gap between where we are and where they are on finances.” The S&P 500 stock index ended the day down more than 1 percent. No progress - Debt-limit talks showed no hint of a breakthrough Tuesday, with both sides appearing to be dug in on spending cuts. … House Oversight holds a hearing on San Francisco Fed supervision failures at 2 p.m. House Financial Services marks up bills on mortgages, capital formation and bank regulator oversight at 10 a.m. It’s Wednesday - Are you freaking out yet? Let us know: Zach Warmbrodt, Sam Sutton. “He is now working toward a negotiated solution that meets the Speaker’s policy parameters, can pass both the House and Senate, and addresses federal spending.” “The reality is that there are not enough votes in the House or Senate for a clean debt limit increase,” she said. She said McHenry for years has also been “sounding the alarm” on spending and the need to address U.S. McHenry spokesperson Laura Peavey said he has remained consistent in his view that default is not an option and that the debt ceiling should be raised with as little drama as possible. “He’s easing Wall Street concerns, negotiating policy well beyond his control, and helping his conference navigate the biggest hurdle it has faced.” “McHenry is fulfilling a similar function for McCarthy,” Huder said. McHenry’s position is reminiscent of previous party lieutenants who chaired important committees but held far greater influence, according to Joshua Huder, senior fellow at Georgetown University’s Government Affairs Institute. “But the question is, will it be enough?” “I trust he’s that voice of reason,” Himes said. Jim Himes (D-Conn.), a Goldman Sachs alum who has served for years with McHenry on House Financial Services, told our Eleanor Mueller he too is hopeful that McHenry is “a moderating influence in the conference.” “His voice on the need to get a deal done and avoid default has been critical to the cause.” “McHenry is the ideal person to play a more active role in getting a deal done because he is both a trusted ally of the speaker and respected by the rank and file in the caucus,” one executive at a large bank told MM. Shai Akabas, director of economic policy at the Bipartisan Policy Center, described the McHenry of 2023 as “one of the adults in the room” - and one who brings a financial markets perspective to the talks. It’s a notable transformation for someone who entered Congress as a conservative bomb-thrower. ![]() He’s been one of McCarthy’s two key emissaries negotiating with White House aides in recent days, and he accompanied the speaker to a meeting with Biden this week.Įxecutives, lobbyists - and even some Democratic lawmakers - are watching him closely and want to believe he’ll help deliver a deal before financial catastrophe ensues. Now, he’s a prominent player in debt-limit negotiations between Speaker Kevin McCarthy and President Joe Biden. Maxine Waters at the Financial Services panel. ![]() He opted instead to seek bipartisan deals on crypto and investment rules with Rep. One of the House GOP’s most experienced vote counters, he also turned down a viable shot at Republican leadership this year. He cited the risks that would come if Washington failed to pay its bills. The North Carolina Republican, who chairs the House Financial Services Committee, told us in November that he opposed the idea of Republicans trying to extract spending cuts in exchange for raising the government’s borrowing authority. Wall Street executives see a bit of good news in the otherwise frustrating debt limit talks: Rep. The POLITICO Pro platform combines the news you need with tools you can use to take action on the day’s biggest stories. Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m.
0 Comments
Leave a Reply. |