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☆ Biden wants to make sure Congress doesn't slash pay for firefighters tackling wildfires raging across the country
▼ + stars: | 2023-08-10 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Biden administration wants additional funding from Congress for Ukraine, extreme weather, and the border. Currently, wildfire firefighters are working under a temporary pay increase, which will expire by October. "The administration is committed to building a more robust and resilient wildland firefighter workforce and fairly compensate wildland firefighters' difficult and dangerous work that they do. "We've seen bipartisan understanding of the need to provide firefighter pay to prevent a cliff," the official said. On Tuesday, a bipartisan group of lawmakers introduced the Wildland Firefighter Paycheck Protection Act, which would make pay increases for firefighters permanent.

Persons: Biden, Joe Biden's, Kevin McCarthy, We've, Josh Harder, weren't Organizations: Biden, Management, Service, Agriculture, FEMA, OMB, NBC News, National Federation of Federal Employees, National Forest Service Locations: Ukraine, Wall, Silicon, Hawaii, Texas, California

☆ Falling inflation has more to do with post-pandemic effects than Fed hikes: Lazard's Peter Orszag
▼ + stars: | 2023-07-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFalling inflation has more to do with post-pandemic effects than Fed hikes: Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to discuss the Fed's inflation fight, the latest market trends, the state of dealmaking, and more.

Persons: Peter Orszag Peter Orszag, Obama Organizations: Lazard Locations: dealmaking

☆ Republicans want to cut food assistance for 5 million low-income babies and parents
▼ + stars: | 2023-07-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Low-income parents and babies are eligible to receive the benefit, which subsidizes food and care. If the GOP bill were passed, millions would see a benefit cut, especially to fruit and vegetable budgets. In total, according to CBPP's analysis, the $6 billion the GOP bill allocates to WIC would lead to 5.3 million children and pregnant, postpartum, or breastfeeding parents seeing their food assistance cut, or completely gone. Per the USDA, 6,260,000 people participated in WIC in fiscal year 2022; as of April 2023, there were over 6.6 million Americans participating, including nearly 1.5 million infants and 3.6 million children. The proposed cuts to WIC come after an already-precarious time for low-income Americans receiving food subsidies.

Persons: Catherine Rampell, Tonyia Canales, Canales Organizations: GOP, Service, Women, Budget, WIC, Budget Management, OMB, Washington, Congress Locations: Wall, Silicon, Texas

☆ America's largest office tenant is embracing remote work, creating more pain for a market already in distress
▼ + stars: | 2023-07-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +7 min

The federal government is embracing remote work and cutting back its office footprint nationally. President Joe Biden and Donald Trump might not appear to agree on much, but when it comes to cutting back on office space, they're aligned. Now federal tenants are in for a new phase of belt-tightening as more accept remote and hybrid work, real estate experts say. "The majority of federal offices are still largely vacant on most days," said Darian LeBlanc, the director of government services at Cushman & Wakefield. So far, only the Department of Veterans Affairs has publicly said how it plans to use remote and hybrid work.

Persons: Joe Biden, Donald Trump, Barack Obama, Biden —, Darian LeBlanc, LeBlanc, Rachel Davis, Davis, — Davis, Bob Hunt, Martin Selig, Jesse Lawder, Selig, Shalanda Young, Denis McDonough, Cushman, JBG Smith, Christi, who's Organizations: —, Trump, Cushman &, Washington DC, General Services Administration, Department of Labor, Management, FBI, Securities and Exchange Commission, Environmental Protection Agency, Minerals Management Service, Department of Veterans Affairs, National Transportation Safety, L'Enfant Plaza, state's Department of General Services, National Association of State Locations: Cushman & Wakefield, United States, JLL, Seattle, Washington, L'Enfant, . Tennessee, Nashville, Knoxville, Memphis, Chattanooga, Branscom, California , Illinois, North Carolina, Florida

☆ It would be a mistake to raise rates again, says Lazard's Peter Orszag
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt would be a mistake to raise rates again, says Lazard's Peter OrszagPeter Orszag, Lazard Financial Advisory CEO and former OMB director under President Obama, joins 'Squawk Box' to discuss the latest on debt ceiling deal, the Fed's rate hike campaign, mergers and acquisitions activity, and more.

Persons: Lazard's Peter Orszag Peter Orszag, Obama Organizations: Lazard Financial

☆ House Republicans are planning to vote on a bill this week to deprive over '40 million hard-working' student-loan borrowers of debt cancellation, the White House says — and if passed, Biden will veto
▼ + stars: | 2023-05-22 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans are planning to bring a bill overturning student-debt relief to the House floor for a vote this week. The White House said in a Monday statement that Biden will veto the bill if it makes it to his desk. "This resolution is an unprecedented attempt to undercut our historic economic recovery and would deprive more than 40 million hard-working Americans of much-needed student debt relief," the OMB said. Biden's broad debt relief plan has been blocked since November due to two conservative-backed lawsuits that paused the implementation of the plan. While the resolution could pass the House given the Republican majority, if faces a much trickier path in the Democratic-controlled Senate and White House.

☆ McCarthy says House could vote on debt ceiling deal as soon as next week
▼ + stars: | 2023-05-18 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference with house and senate Republicans on the "debt crisis," on the west plaza of the U.S. Capitol on Wednesday, May 17, 2023. WASHINGTON — House Speaker Kevin McCarthy said Thursday that he is optimistic that congressional negotiators could reach a deal to raise or suspend the debt ceiling in time to hold a House vote on it next week. This week, the White House dispatched two new negotiators to take the lead in the delicate talks, presidential counselor Steve Ricchetti and Office of Management and Budget director Shalanda Young. Despite the bitterly partisan divide in Congress over the debt limit, McCarthy nonetheless heaped praise on the White House team Thursday. Correction: McCarthy spoke about the debt ceiling deal Thursday.

☆ The GOP proposal to raise the debt ceiling would force Americans on Social Security and Medicare to wait longer to receive help and make college more expensive, the White House says
▼ + stars: | 2023-05-16 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

That would include worse customer service times for Americans receiving Medicare and Social Security. That could mean people waiting for disability benefits through Social Security might face wait times of at least two months longer, and those seeking help through Social Security and Medicare offices could experience worse customer servicer. "House Republicans can do this math as well as anyone. "If House Republicans choose not to cut funding for military, veterans' medical care, and border security, then their cuts to everything else must get even deeper." As Yellen warned McCarthy in her Monday letter, failure to raise the debt ceiling on time would be catastrophic for Americans.

☆ Watch CNBC's full interview with Lazard's Peter Orszag on Tuesday's critical debt ceiling meeting
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lazard's Peter Orszag on Tuesday's critical debt ceiling meetingPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to preview President Biden's debt ceiling meeting with top congressional leaders, and why the administration shouldn't simply agree to a one-year debt ceiling reprieve.

☆ Here's what Lazard's Peter Orszag thinks the best option is if a debt ceiling deal can't be reached
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what Lazard's Peter Orszag thinks the best option is if a debt ceiling deal can't be reachedPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk Box' to preview President Biden's debt ceiling meeting with top congressional leaders, and why the administration shouldn't simply agree to a one-year debt ceiling reprieve.

☆ The Biden tax proposals that could hit baby boomer, family businesses
▼ + stars: | 2023-04-29 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

President Joe Biden's 2024 budget proposals contain several proposals that could hit small businesses right where it hurts — their wallets. Here are five provisions business owners should be aware of in President Biden's budget:A higher capital gains tax rate would be bad for business sellers. Biden is proposing that the corporate tax rate be increased to 28% from 21%. The majority of small businesses are pass-through businesses that are not subject to the corporate income tax, but for companies that are, the increase would be meaningful, tax experts said. Biden's proposal would increase the 3.8% net investment income tax rate on small business income over $400,000 to 5%.

☆ Kevin McCarthy's bill to raise the debt ceiling squeezes by in the House after a series of contentious last-minute changes to secure enough GOP votes
▼ + stars: | 2023-04-26 | by ( Ayelet Sheffey | Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +5 min

Under the legislation — which still has a long road to becoming law — the debt ceiling would rise by just $1.5 trillion, or until March 31, 2024, depending on whichever comes first. Democratic senators insisted on Wednesday that the House bill is dead on arrival in the Senate. "I don't think it will have any impact on what happens in the Senate," Sen. Chris Coons, a Delaware Democrat, told Insider of the House bill on Wednesday afternoon. But GOP Sen. Ron Johnson told Insider that he thinks House Republicans "are doing the right thing." That means that both parties need to come to an agreement on an approach to raise the debt ceiling before the country hurdles into a default, expected early this summer.

☆ The debt ceiling is an added source of volatility in the economy, says Lazard's Peter Orszag
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe debt ceiling is an added source of volatility in the economy, says Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk on the Street' to discuss House Speaker McCarthy's debt ceiling proposal, the potential credit crunch, and the Fed's rate plan.

☆ Watch CNBC's full interview with Lazard's Peter Orszag
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Lazard's Peter OrszagPeter Orszag, CEO of Financial Advisory at Lazard and former OMB director under President Obama, joins 'Squawk on the Street' to discuss House Speaker McCarthy's debt ceiling proposal, the potential credit crunch, and the Fed's rate plan.

☆ White House asks agencies to step up workers' return to offices
▼ + stars: | 2023-04-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, April 13 (Reuters) - The White House on Thursday asked federal agencies to revise workforce plans as it aims to "substantially increase" in-person work by government employees at headquarters offices and improve services, according to a memo seen by Reuters. The memo to executive branch agencies from White House Office of Management and Budget (OMB) director Shalanda Young directs agencies to refresh work environment plans and policies. Some Republican lawmakers have pressed federal agencies to require more government workers to return to offices. "It’s time for the federal workforce to get back to work in-person for the American people. Aiming to cut long wait times and delays in processing federal services, OMB's memo said: "Agencies should prioritize improving experiences and services that directly impact the public."

☆ Biden’s OMB Plans to Divide America Into More Racial Groups
▼ + stars: | 2023-04-07 | by ( John F. Early | ) www.wsj.com time to read: +1 min

The Biden administration is proposing to issue a new directive on how U.S. agencies collect and publish data on race and ethnicity. The proposal would increase the number of primary racial groups for data collection to seven from five. That yields seven races: white, black, Asian, Hispanic, American Indian, Native Hawaiian and MENA. Respondents to government surveys or forms would be asked to select one or more races from the list. This would replace the current method by which people are first asked whether they are “Hispanic or Latino,” and then asked to select races from the original five options.

☆ Senate Republicans criticise Biden budget amid banking, market strains
▼ + stars: | 2023-03-15 | by ( David Morgan | ) www.reuters.com time to read: +5 min

Republicans have refused to raise the nation's $31.4 trillion debt ceiling unless Democrats agree to sharp spending cuts. "We have to use this debt ceiling issue to pry the nation's maxed-out credit card from Joe Biden's hands," Republican Senator Roger Marshall said. Not touching those, or failing to cut defense spending, leaves little chance of addressing the government's budget deficit. Young said the White House looked forward to seeing a Republican budget that suggests the programs are off the table. Republicans are determined to avoid tax hikes and to preserve tax cuts for the wealthy implemented under former President Donald Trump.

☆ Amid bank strains, Democrats and Republicans spar over U.S. budget
▼ + stars: | 2023-03-15 | by ( David Morgan | ) www.reuters.com time to read: +4 min

REUTERS/Jonathan ErnstWASHINGTON, March 15 (Reuters) - The U.S. Senate Budget Committee debated Democratic President Joe Biden's $6.8 trillion budget proposal on Wednesday, as new financial strains at Credit Suisse threatened to raise the stakes in a partisan standoff over spending and debt. "The president's budget proposal continues to take our nation down a path of fiscal and economic ruin," said Senator Chuck Grassley, the panel's top Republican. "President Biden is proposing levels of debt, deficits and spending previously reserved for times of world war or depression. Market turmoil exacerbated fears about the banking system days after the collapse of Silicon Valley Bank (SIVB.O) and New York's Signature Bank. Republicans are determined to avoid tax hikes and to preserve tax cuts for the wealthy implemented under former President Donald Trump.

☆ A budget is a messaging document, says fmr. WH Chief of Staff Mick Mulvaney
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA budget is a messaging document, says fmr. WH Chief of Staff Mick MulvaneyFounder of Operation Hope John Hope Bryant, New York Post business reporter Lydia Moynihan and Mick Mulvaney, former OMB director and former White House chief of staff, join CNBC's Brian Sullivan and 'Last Call' to react to President Biden’s budget proposal, which was delivered today.

Principal Deputy IRS Commissioner Daniel Werfel testifies before the House Small Business Committee at a hearing on "The Internal Revenue Service And Small Businesses: Ensuring Fair Treatment" in Washington, July 17, 2013. One of Werfel's priorities at the IRS will be ensuring that the wealthiest Americans pay their full tax bills. President Joe Biden's pick to lead the IRS won the support of nearly every Senate Democrat, plus a handful of Republicans. "Confirming someone as qualified as Mr. Werfel as IRS Commissioner is crucial to making sure Americans take full advantage of all the tax credits we approved last year," Senate Majority Leader Chuck Schumer said Monday on the Senate floor. He later served as acting IRS commissioner in 2013.

☆ Former OMB director: We have to start making cuts to spending
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer OMB director: We have to start making cuts to spendingRussell Vought, former OMB director under former President Donald Trump, joins 'Squawk Box' to discuss the United States debt picture with rates headed higher, the country's interest rate expenses, and more.

☆ Big Tech's lack of data transparency hinders robust competition, says former Rep. Donna Edwards
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Tech's lack of data transparency hinders robust competition, says former Rep. Donna EdwardsMick Mulvaney former OMB director, now co-chair of Actum Strategic Advisers and former U.S. Rep. Donna Edwards, D- Maryland, join 'Squawk Box' to discuss agencies striving to regulate Big Tech, bipartisan support for regulatory tech measures, and crypto regulation around the world.

☆ White House unveils plan to boost use of U.S.-made goods in infrastructure
▼ + stars: | 2023-02-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 8 (Reuters) - The White House is releasing proposed guidance to boost the use of American-made goods in government-funded infrastructure projects, according to documents seen by Reuters. President Joe Biden in his State of the Union address Tuesday touted the effort to require construction materials used in federal infrastructure projects to be made in the United States. And on my watch, American roads, American bridges, and American highways are going to be made with American products." The infrastructure law significantly expanded standards to require government-funded infrastructure projects use more American-made iron, steel, construction materials, and manufactured products. The public will have 30 days to comment on the proposed guidance.

☆ Indiana's Senate race will show the depths of the fault lines within the GOP. Early signs show it's still Trump's party.
▼ + stars: | 2023-02-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +10 min

Mitch Daniels would have been an ideal GOP Senate candidate. Daniels' decision offers a look at the obstacles that the party continues to face headed in 2024. Mitch Daniels would have been seen by most traditional conservatives as an ideal candidate to run for the Senate. Eric Holcomb is a potential candidate in the 2024 Indiana Republican Senate primary. AP Photo/Manuel Balce CenetaIndiana could drive the GOP Senate roadmapAhead of the 2022 midterm elections, Republicans anticipated making major gains in Congress, which eventually didn't come to pass.

That has rendered a community that experts estimate to be 7 million to 8 million people invisible, underrepresented and unnoticed. There's power in numbers, Berry said, and as it is now, much of the research on the American MENA community is anecdotal because of the lack of an identifier. "Small-business owners in the community would be able to take advantage of grants that we're not entitled to, because we're factored into the white category." 'It's like déjà vu'It isn't the first time the U.S. has concluded that a MENA category is necessary. It's a processThe recommendation for the OMB to adopt a MENA category is just that — a recommendation.

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