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☆ Trump doesn't have enough clout on Capitol Hill to make Jim Jordan the House speaker
▼ + stars: | 2023-10-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

Trump endorsed Jim Jordan for speaker of the House — but it won't be enough to get him the job. AdvertisementAdvertisementThe race to succeed former House Speaker Kevin McCarthy is on, and Rep. Jim Jordan just scored what may be the best outside endorsement a Republican could get — former President Donald Trump. Since Trump endorsed the Ohio Republican on Thursday evening, several House conservatives have done just that. Just ask former Rep. Liz Cheney, or any of the other House Republicans who voted to impeach Trump and were primaried out of a job. Trump doesn't have as much sway on Capitol Hill as you thinkThis may come as a surprise, but Republicans on Capitol Hill — even those that support his 2024 candidacy — ignore Trump all the time.

Persons: Trump, Jim Jordan, —, Kevin McCarthy, Donald Trump, Jordan, Steve Scalise, Kevin Hern, you've, Republicans who've, Liz Cheney, McCarthy, Matt Gaetz, didn't, he's, Mitch McConnell, McConnell, Sen, Rick Scott of, that's, — Vern Buchanan, Lisa McClain, Chuck Fleischmann of Tennessee, It's, outlast Organizations: Service, Republican, Caucus, Jordan, Trump, Ohio Republican, Republicans, GOP, Capitol, Senate, House Republicans Locations: Ohio, Oklahoma, Florida, Rick Scott of Florida, Lisa McClain of Michigan

☆ The next GOP speaker will face the same traps that doomed McCarthy
▼ + stars: | 2023-10-05 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Two candidates, GOP Majority Leader Steve Scalise of Louisiana and Judiciary Chairman Jim Jordan of Ohio, have already launched campaigns. He’s not the first GOP speaker to think so. But in this political climate, any Republican speaker who has to rely on Democratic votes is critically weakened and probably can’t last long. But the only way a Republican speaker will be able to pass aide to Ukraine will be to do so with Democratic help. The lack of such flexibility has been a fatal flaw of GOP speakers for years.

Persons: Kevin McCarthy, he’d, Steve Scalise, Jim Jordan of, Kevin Hern, McCarthy, Matt Gaetz, tormentor, Nancy Pelosi, Garret Graves, CNN’s Jake Tapper, ” Graves, Donald Trump, “, ” McCarthy, He’s, John Boehner, shutdowns, –, Paul Ryan, Ryan, Trump, they’d, McCarthy –, Mike Lawler, Biden, ” Lawler, CNN’s Wolf Blitzer, Lawler, Jordan, CNN’s Manu Raju, Michael McCaul, Raju, Jordan didn’t, Scalise, don’t Organizations: CNN, Republican, GOP, United, Republican Party, Tea Party, Wisconsin Rep, “ America, Democratic, New, Trump, Foreign, Texas Locations: Louisiana, Jim Jordan of Ohio, Oklahoma, Florida, Garret Graves of Louisiana, United States, New York, reining, Russia, China, Ukraine, Kyiv

☆ Who will be the next U.S. House speaker? A look at top candidates so far
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

[1/2] Former Speaker of the House Kevin McCarthy (R-CA) speaks to reporters after he was ousted from the position of Speaker by a vote of the House of Representatives at the U.S. Capitol in Washington, U.S. October 3, 2023. Jordan faces a challenge from Representative Steve Scalise, the No. 2 House Republican long considered to be McCarthy's heir apparent. IN: STEVE SCALISERepresentative Matt Gaetz, the lawmaker who spearheaded the push to oust McCarthy, has said he would support Steve Scalise taking over the role. Chairman of the House Financial Services Committee, McHenry is a McCarthy ally who spoke in support of McCarthy before the ouster vote.

Persons: Kevin McCarthy, Jonathan Ernst, Donald Trump, Jim Jordan, Jordan, Steve Scalise, JIM JORDAN, McCarthy, Joe Biden, Trump, STEVE SCALISE, Matt Gaetz, Scalise, David Duke, KEVIN HERN Kevin Hern, PATRICK MCHENRY, Patrick McHenry, McHenry, Makini Brice, Scott Malone, Howard Goller Organizations: U.S, Capitol, REUTERS, Republican, Ku Klux Klan, Committee, Republicans, Financial Services, Thomson Locations: Washington , U.S, Ohio, Louisiana, Oklahoma, North Carolina

☆ House speaker: What the heck is going on? How will it affect you?
▼ + stars: | 2023-10-05 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +11 min

The House is without a speaker, the person who, according to the Constitution, is required to be its leader. For as long as the House is trying to find a new speaker, it’s unable to do much of anything else. What happened to the last House speaker? Rep. Kevin McCarthy had been House speaker since January, when he won the gavel after 15 rounds of balloting. McHenry booted Pelosi and former House Majority Leader Steny Hoyer of Marlyand out of offices they kept in the Capitol building.

Persons: CNN —, Nancy Pelosi, hasn’t, Patrick McHenry, it’s, White, Tim Lister, Kevin McCarthy, Republicans –, McCarthy, “, Matt Gaetz, Joe Biden, Gaetz, Republicans squirm, Biden, Hakeem Jeffries, McHenry, Pelosi, Steny Hoyer, Marlyand, Hoyer, Scott Jennings, ” Jennings, Trump, Donald Trump, CNN’s Stephen Collinson, Republicans ’, He’s, ”, CNN’s Kristen Holmes, Alayna Treene, Steve Scalise –, Scalise, Jim Jordan –, Kevin Hern –, Patrick McHenry –, Read Organizations: CNN, North Carolina Republican, White, Senate, Republican, Republicans, Florida, Caucus, California Republican, Democratic, Congress, Capitol, Trump, Republican Party, Louisiana Republican, Jim Jordan – The Ohio Republican, Freedom Caucus, Kevin Hern – The Oklahoma Republican, GOP, Patrick McHenry – The North Carolina Republican, Capitol Hill Locations: CNN — Washington, Washington, Ukraine, California, New York, Capitol Hill, Patrick McHenry – The

WASHINGTON, Oct 4 (Reuters) - The race to replace ousted House Speaker Kevin McCarthy took shape on Wednesday as Steve Scalise, the chamber's No. 2 Republican, and Jim Jordan, a leading antagonist of Democratic President Joe Biden, said they would seek the post. "Everybody's just taking a breath and in listening mode, without any serious commitments," said Republican Representative Dan Crenshaw. The last Republican speaker, Paul Ryan, retired from Congress after struggling to work with Trump, a fellow Republican. The entire House - Republicans and Democrats - vote for speaker, who would hold the position until early January 2025, unless they were deposed as well.

Persons: Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, McCarthy, Jordan, Biden, Donald Trump, Scalise, Kevin Hern, Patrick McHenry, Everybody's, Dan Crenshaw, Paul Ryan, John Boehner, Matt Gaetz, Garret Graves, Gaetz, Hakeem Jeffries, David Morgan, Moira Warburton, Richard Cowan, Andy Sullivan, Scott Malone, Cynthia Osterman, Howard Goller Organizations: Democratic, Republicans, Committee, Trump, U.S . House, Representatives, Texas Republican House, U.S, Republican, Congress, Democrats, Thomson

☆ Live updates: The House Speaker vacancy and what happens next
▼ + stars: | 2023-10-04 | by ( Aditi Sangal | Adrienne Vogt | ) edition.cnn.com time to read: +1 min

The Speaker's gavel rests on the podium in the House Chamber of the US Capitol after Rep. Kevin McCarthy was elected Speaker of the House in January. Win McNamee/Getty ImagesIt is still unclear exactly who is running for the top three Republican positions, according to multiple GOP sources. Hern and Jordan may opt to run for other positions, or could run for speaker. The GOP conference will nominate their candidate for speaker and pick their new leadership team sometime next week— which only requires a majority vote. Then the full House will vote for the new speaker.

Persons: Kevin McCarthy, Win McNamee, Steve Scalise, Kevin Hern, Jim Jordan, he’s, Jordan, Patrick McHenry, Tom Emmer, McHenry, It’s Organizations: Chamber, Capitol, GOP

☆ After McCarthy's ouster, House GOP leaders are scrambling to boost their rank
▼ + stars: | 2023-10-04 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

On Tuesday, the House voted to remove Kevin McCarthy as speaker. As it stands, Rep. Steve Scalise is still the majority leader, Rep. Tom Emmer is the majority whip, and Rep. Elise Stefanik serves as the Republican conference chairman. He'll face off against Rep. Jim Jordan, the chair of the House Judiciary Committee, as well as Oklahoma Rep. Kevin Hern. Guy Reschenthaler, the GOP's chief deputy whip, also declared his desire on Wednesday to replace Emmer as whip if given the opportunity. AdvertisementAdvertisementDespite the ongoing movement amongst Republican House leadership at the moment, the House is out of session until next week.

Persons: Kevin McCarthy, Steve Scalise, Tom Emmer, —, McCarthy, Matt Gaetz, Patrick McHenry, Elise Stefanik, Scalise, He'll, Jim Jordan, Kevin Hern, Stefanik, who's, Guy Reschenthaler, Emmer, Greg Steube, Joe Biden Organizations: Service, Democratic, Republican, House, Rep, Committee, GOP Locations: Oklahoma

Leaders dropped $6 billion in Ukraine aid from the temporary funding measure passed Saturday as they focused on passing it quickly, just hours before the government would have shut down. Supporters of Ukraine aid — including Ukrainian President Volodymyr Zelenskyy, who visited the Capitol to plead for the money in person just two weeks ago — say it’s essential that additional funding is included. He said he would address Ukraine aid soon. But any dealmaking is on hold as House Republicans try to find a new leader. Jordan has made clear his opposition to additional Ukraine aid and reiterated it Wednesday.

Persons: Kevin McCarthy, McCarthy, Volodymyr Zelenskyy, Joe Biden, “, ” Biden, ”, Democratic Sen, Chris Murphy, ” Sen, Joe Manchin, Republicans “, Manchin, Biden, Lindsey Graham, Jim Jordan, Steve Scalise, Kevin Hern, Jordan, ” Jordan, Hern, Scalise, Kelly Armstrong, ” Armstrong, Adam Smith, Michael McCaul, McCaul, “ It’s, ” McCaul, Stephen Groves, Josh Boak, videojournalists Dan Huff, Nathan Ellgren Organizations: WASHINGTON, Republicans, Russia, Capitol, House Democrats, Ukraine, Senate, Democrats, Democratic, ”, Oklahoma Rep, Republican, House Armed Services Committee, Foreign, Associated Press Locations: Ukraine, “, Connecticut, United States, Russia, U.S, Ohio, Jordan, Washington, Texas

The House vote to oust Kevin McCarthy from his post on Tuesday marked a historic first, as a group of conservatives sided with Democrats to successfully boot him from the speakership. Immediately following the vote to oust McCarthy, a temporary speaker – Rep. Patrick McHenry of North Carolina – took over based upon a list of succession that the former speaker submitted in January. In his first move in the temporary role, McHenry recessed the chamber to “discuss the path forward,” before lawmakers returned to their districts for the week. Following the vote, former House Speaker Nancy Pelosi was ordered to vacate her Capitol hideaway. Pelosi called the move a “sharp departure from tradition,” as other former speakers have been permitted to retain offices near the House chamber beyond their tenure.

Persons: Kevin McCarthy, McCarthy, Patrick McHenry of, Patrick McHenry of North Carolina –, ”, McHenry, –, Steve Scalise, Jim Jordan of, Kevin Hern, Tom Emmer, Donald Trump, he’s, Matt Gaetz’s, Mitch McConnell, McCarthy –, “, ” McConnell, Chuck Schumer, Nancy Pelosi, Pelosi Organizations: White, Republican, GOP, Republicans, House Democrats, Capitol hideaway Locations: Patrick McHenry of North Carolina, McHenry, Louisiana, Jim Jordan of Ohio, Oklahoma, Minnesota, Florida

☆ Kevin McCarthy's wild ride as US House speaker ends in historic fall
▼ + stars: | 2023-10-04 | by ( David Morgan | ) www.reuters.com time to read: +5 min

U.S. House Speaker Kevin McCarthy (R-CA) walks back to the Speaker's office after a motion to vacate the chair of Speaker of the House and end McCarthy's continued leadership passed by a vote of 216-210, at the U.S. Capitol in Washington. On Tuesday, eight members of his party joined 208 Democrats to oust McCarthy as speaker in a 216-210 vote. But as I walk out of this chamber, I feel fortunate to have served the American people," McCarthy, 58, told reporters. "Frankly, one has to wonder whether or not the House is governable at all," Republican Representative Dusty Johnson told reporters after McCarthy's ouster. But hardliners soon used their leverage to shutter the House floor in protest over the spending level that McCarthy had agreed to Biden.

Persons: Kevin McCarthy, McCarthy's, Jonathan Ernst, Matt Gaetz, McCarthy, Gaetz, " McCarthy, Donald Trump, Joe Biden, seethed, Biden, John Boehner, Paul Ryan, Trump, Dusty Johnson, Steve Scalise, Tom Emmer, Jodey Arrington, Kevin Hern, David Morgan, Scott Malone, Stephen Coates Organizations: U.S, Capitol, REUTERS, Rights, U.S . House, California Republican, Democratic, Republican, Reuters, Republicans, Committee, Thomson Locations: Washington, California, U.S

CNN —Following Kevin McCarthy’s historic ouster as House speaker, names have started to emerge as possible successors to take over the gavel. Jordan replied “yes,” when asked if he is running for speaker and said he had just talked to House Majority Leader Steve Scalise, the No. Anna Moneymaker/Getty Images/FILELouisiana Rep. Steve Scalise, who serves as House majority leader, announced on Wednesday his intention to succeed McCarthy. As he exited a GOP meeting, he told reporters, “Steve Scalise has been a friend for a long time. Kevin HernRep. Kevin Hern leaves a meeting of the House Republican Conference at the Capitol Hill Club on Wednesday, July 26, 2023.

Persons: Kevin McCarthy’s, McCarthy, Tuesday’s, Jim Jordan Rep, Jim Jordan, Anna Moneymaker, Jim Jordan of Ohio, Jordan, “, Steve Scalise, Fani Willis, Attorney Alvin Bragg, Trump, Hunter Biden, ” Scalise, Scalise, ”, David Duke, Tom Emmer, Tom Williams, Emmer, “ Steve Scalise, Kevin Hern, ”, I’ve, ” Hern, Hern Organizations: CNN, GOP, Republican, Committee, Manhattan, Attorney, Justice Department, Freedom Caucus, Building, Congress, Ku Klux, House Republican Conference, Capitol, Minnesota Republican, Louisiana Rep, Minnesota, Financial Services, Capitol Hill Club, Oklahoma Republican, Caucus, McDonalds, Small Business Locations: Washington , DC, Benghazi, Trump, Fulton County, Louisiana, Alexandria , Virginia, New Orleans ’, Minnesota, Texas

Republican Rep. Patrick McHenry, now the acting speaker, declared the House in recess until both parties can decide on a path forward. There is no obvious successor to lead the House Republican majority now that McCarthy has opted not to run for the job again. Immediately after the vote, McHenry, a close McCarthy ally, was named temporary speaker or speaker pro tempore. McCarthy turned over that private list to the House clerk in January when he was first elected speaker. Some members left the chamber Tuesday determined to renominate McCarthy and vote for him for speaker until it passes.

Persons: Kevin McCarthy, Matt Gaetz, McCarthy, Patrick McHenry, Here's, McHenry, Steve Scalise, Tom Emmer, Kevin Hern, Jim Jordan, Lisa Mascaro Organizations: WASHINGTON, Democrats, —, California Republican, Republican, North Carolina Republican, Committee, AP Locations: McHenry

☆ How the Shutdown Holdouts Have Antagonized McCarthy Before
▼ + stars: | 2023-09-29 | by ( Karen Yourish | Lazaro Gamio | ) www.nytimes.com time to read: +3 min

Notably, Representatives Wesley Hunt of Texas and Ken Buck of Colorado came back to Washington at Mr. McCarthy’s request to vote in his favor for speaker. And Representative Marjorie Taylor Greene of Georgia aligned herself with Mr. McCarthy during the speaker fight and was ousted from the Freedom Caucus over the summer. With far-right members of his caucus in revolt over suspending the debt ceiling, Mr. McCarthy was forced to negotiate a deal with President Biden, further enraging the already volatile faction. In another blow to Mr. McCarthy, the bipartisan measure passed with more Democrats than Republicans. They did so to punish Mr. McCarthy for making a deal with Mr. Biden to suspend the debt limit.

Persons: Antagonized McCarthy, Biggs Bishop Boebert Buck Burchett, Gosar Greene Hunt Mace Miller Mills Mooney Moore, Kevin McCarthy’s stopgap, McCarthy’s, Biggs, Gosar Miller, Clyde Donalds Good Harris Luna Norman Perry Roy, Wesley Hunt, Ken Buck, Colorado, Marjorie Taylor Greene, McCarthy, Buck Burchett, Hunt Mace Miller Mills Mooney, Alford, Bost Brecheen Buchanan Cammack Carter Cline Clyde Collins DesJarlais Donalds Fallon Finstad Fischbach Fry Fulcher Gonzales Good Gooden Griffith, Hageman Harris Harshbarger Hern Higgins Jackson LaHood Lesko Luna Luttrell Mann Mast McCormick Moran Norman Palmer Perry Posey Rose Roy Santos, Strong Tiffany Timmons Van Drew Van Duyne, Weber, Biden, Greene, Troy Nehls, Lauren Boebert, Rosendale, Norman Roy Scalise, Mr Organizations: Republicans, House Republicans, Caucus, Mr, Freedom Caucus, Hageman Harris Harshbarger Hern Higgins Jackson LaHood Lesko Luna Luttrell Mann Mast McCormick Moran Norman Palmer Perry Posey Rose Roy Santos Sessions, Republican Locations: Rosendale, Wesley Hunt of Texas, Washington, Georgia, United States, Texas, Colorado

CNN —House Republicans are still struggling to reach consensus on a plan to fund the government, with lawmakers going back-and-forth over the issue and leadership forced to delay a planned procedural vote as they work to find agreement within their ranks. House GOP leaders canceled a procedural rule vote on the proposal originally slated for Tuesday morning amid that opposition from hardliners. Amid the impasse in the House GOP conference, there are discussions underway among some Republicans and Democrats about teaming up on a so-called discharge petition to fund the government if the House Republican-brokered plan fails on the floor this week. Five Republicans – most of them from the right flank House Freedom Caucus – voted against the rule, denying House GOP leadership of the 218 votes it needed for passage. Chip Somodevilla/Getty ImagesRep. Ralph Norman, a South Carolina Republican, said he thinks they should work through the weekend until they are able to find agreement among House Republicans on how to keep the government open.

Persons: ”, Nancy Mace, Tom Emmer –, Kevin Hern, Hern, Hakeem Jeffries, Republicans –, Caucus –, McCarthy, Kevin McCarthy, Scott Perry, Bob Good, Virginia, Byron Donalds, Chip Somodevilla, Ralph Norman, Chip Roy, ” Roy, “, haven’t, Roy, ” Donalds, Perry, ” Perry, Matt Gaetz, Norman, Andy Ogles, Dan Bishop of, Andy Biggs of, Tim Burchett, Anna Paulina Luna of, Marjorie Taylor Greene, Matt Rosendale, Victoria Spartz, Eli Crane of, Cory Mills, Wesley Hunt, Wesley Hunt of Texas, Paul Gosar, Burchett, Bishop, Norman –, Ken Buck, Tom Cole of, Cole, ” Cole, “ That’s Organizations: CNN — House Republicans, GOP, Democratic, South Carolina Republican, Republican, “, CNN, Democrats, Politico, House Republicans, Department of Defense, Republicans, Caucus, Freedom Caucus, House Republican, Capitol, Getty, Texas Republican, Florida GOP Rep, Senate, ’, Defense, Ken Buck of Colorado . Locations: Pennsylvania, Florida, Washington ,, Texas, Tennessee, Dan Bishop of North Carolina, Andy Biggs of Arizona, Anna Paulina Luna of Florida, Marjorie Taylor Greene of Georgia, Matt Rosendale of Montana, Victoria, Victoria Spartz of Indiana, Eli Crane of Arizona, Cory Mills of Florida, Wesley Hunt of, Paul Gosar of Arizona, “, Biggs, Rosendale, Ken Buck of Colorado

In order to protect Republican spending priorities for defense, veteran and disaster relief, it cuts other spending by over 8%. McCarthy planned to hold a vote on a Department of Defense spending bill on Wednesday, then the stopgap funding measure the next day. Leaders of the so-called “five families” — the various conservative factions that make up the House Republican majority – are expected to convene later Monday behind closed doors in the speaker’s office. “How are you going to win your arguments to secure the border if the border agents don’t get paid? Still, Schumer called on McCarthy to take a bipartisan approach to keep the government running.

Persons: Kevin McCarthy, “ I’ve, you’re, ” McCarthy, ”, we’ve, McCarthy, Chuck Schumer, “, it’s, Kevin Hern, Dusty Johnson, I’ve, don’t, aren’t, Byron Donalds, Biden, Janet Yellen, We’ve, Schumer, ” Schumer, Fatima Hussein Organizations: WASHINGTON, Republican House, Republican, Capitol, Republicans, Caucus, Main Street Caucus, Democrats, Department of Defense, Committee, Mainstreet Caucus, Fox, Twitter, Freedom Caucus, U.S . Chamber of Commerce, CNBC, House Democrats Locations: shutdowns, Washington

Yet several hard-right conservatives told CNN they are prepared to take down the rule over the spending bill if their demands aren’t met. Democrats are already trying to pin the blame on any shutdown on the House GOP. Ukraine funding a key flashpoint in HouseHow McCarthy deals with the immediate spending demands remains to be seen, including whether he’ll agree to pair the short-term spending bill with any aid to Ukraine. Simpson said of tying Ukraine aid to the short-term spending bill: “That’s a tougher sell. “Once you get truly into the presidential cycle, everything gets that much more difficult.”Hardliners may upend McCarthy’s strategyHard-line conservatives are already threatening to make McCarthy’s calculus more complicated if he cuts a short-term spending deal with Democrats.

Persons: Kevin McCarthy, McCarthy, It’s, ” McCarthy, Department of Homeland Security –, Joe Biden, Ukraine –, aren’t, Mike Simpson of, ” Simpson, Don Bacon, Biden, “, ”, Chuck Schumer, Mitch McConnell, Kevin Hern of, Hern, Simpson, Vladimir Putin’s, we’re, Sen, Tammy Duckworth, upend, Ralph Norman –, –, hasn’t, Matt Gaetz, Bob Good, Darrell Issa, ” Issa Organizations: CNN, GOP, White, Department of Homeland Security, White House, Democrats, ”, Senate, Republican, Republican Party, Party, Illinois Democrat, South Carolina Republican, Virginia Locations: Ukraine, Mike Simpson of Idaho, Washington, Nebraska, Kevin Hern of Oklahoma, Illinois, Florida, California

☆ Ten foreigners arrested as $735 million in cash and assets seized in Singapore
▼ + stars: | 2023-08-17 | by ( Amarachi Orie | ) edition.cnn.com time to read: +3 min

CNN —Ten foreign nationals have been arrested in Singapore on suspicion of committing offenses such as forgery and money laundering after about S$1 billion ($735 million) worth of cash and assets were seized in raids across the country. Two gold bars, more than S$23 million ($17 million) in cash, more than 250 luxury bags and watches, more than 270 jewelry items, more than 120 electronic devices and 11 documents related to virtual assets were seized, according to police. Also targeted were 94 properties and 50 vehicles, with an estimated total value of more than S$815 million ($599 million), police added. Prohibition of disposal orders were issued against 50 vehicles and 94 properties -- with an estimated total value of more than S$815 million ($599 million). If found guilty, individuals charged with money laundering could face up to 10 years in prison and/or a fine of up to hundreds of thousands of dollars.

Persons: David Chew, Ho Hern Shin Organizations: CNN, Singapore Police Force, Police, Facebook, Reuters, Cypriot, Commercial Affairs Department, Financial Intelligence, Monetary Authority of Singapore, MAS, Gallup’s Global Locations: Singapore

☆ Biden mocks Republicans for accepting pandemic relief funds while opposing student loan forgiveness: 'My program is too expensive?'
▼ + stars: | 2023-06-30 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

President Joe Biden tore into Republicans for opposing his student loan forgiveness plan. The PPP loans were aimed at keeping business afloat during the pandemic by providing critical backstops to meet payroll and other limited needs. "College loan forgiveness benefits one person and undermines the basic principles of personal responsibility." The Sarasota Republican had over $2.7 million in forgiven PPP loans and interests for car dealerships connected to him. A spokesperson for the Oklahoman blasted Biden for suggesting there was something wrong with opposing student loan forgiveness in light of accepting PPP money.

Persons: Joe Biden, Biden, —, John Roberts, Roberts, Chuck Edwards, Edwards, Vern Buchanan, Buchanan, Kevin Hern, Hern, Miranda Dabney Organizations: Service, Friday's, White, Biden, . Nebraska, North Carolina Republican, Asheville Citizen Times, Florida Republican, Sarasota Republican, Tampa Bay Times ., Oklahoma Republican, Oklahoman Locations: ., Florida, Oklahoma

☆ Biden vetoed a GOP-led attempt to overturn his plan to forgive student-loan debt
▼ + stars: | 2023-06-08 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

President Joe Biden vetoed a GOP-led effort to block his student debt relief. The Supreme Court is also due to consider the legality of Biden's plan by the end of June. "But when it comes to hard-working Americans trying to get ahead, dealing with student debt relief, that's where they drew the line," he said. Conservatives have argued that the debt-relief measure is unfair on people who didn't go to college but still have debts. But despite Biden's veto, the debt-relief measure is not home and dry.

Persons: Joe Biden, —, Biden, Donald Trump, Pell Grant, Marjorie Taylor Greene, Matt Gaetz, Kevin Hern, Sens, Chuck Grassley, Bill Cassidy Organizations: GOP, Service, Twitter, Biden, Congressional, Office, Lawmakers

May 5 (Reuters) - The Monetary Authority of Singapore on Friday imposed additional capital requirement on DBS Bank, the banking arm of the country's largest lender DBS Group (DBSM.SI), following the disruption of its banking services in recent months. "Together with the additional capital requirement imposed on DBS in February 2022, this translates to approximately S$1.6 billion ($1.21 billion) in total additional regulatory capital," MAS added. The additional capital requirement for DBS is now a multiple of 1.8 times to its risk weighted assets for operational risk, an increase from the multiple of 1.5 times MAS applied in February 2022 following the November 2021 disruption, according to MAS. MAS has now required a comprehensive review it directed DBS to conduct in March to cover the May incident, MAS said. "The additional capital requirement imposed at this time underscores the seriousness with which MAS treats this matter," she said.

WASHINGTON, April 26 (Reuters) - A Republican bill that would raise the U.S. government's $31.4 trillion and slash spending took a step forward in the House of Representatives on Wednesday, after party leaders agreed to last-minute changes in the face of opposition. House Speaker Kevin McCarthy allowed overnight changes to the bill aimed at assuaging Midwestern Republican concerns about biofuel tax credits and conceding to hardliners' calls to toughen work requirements for some low-income Americans. McCarthy told reporters on Wednesday that the House would vote later in the day. Other Republican critics including hardline House Freedom Caucus Chairman Scott Perry and Representative Nancy Mace said they had dropped their opposition to the bill. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the measure. Another critic of the bill, hardline House Freedom Caucus Chairman Scott Perry, said he and other conservatives who had held out for changes to work requirements were ready to move forward. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the bill. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Several House Republicans, particularly from Midwestern states, had rebelled against that provision. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

☆ U.S. House Republicans tangle over debt limit, spending cut plans
▼ + stars: | 2023-04-18 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Sometime this summer, the Treasury Department will be unable to manage its debt under the current $31.4 trillion limit on borrowing, according to the Biden administration and the non-partisan Congressional Budget Office. "Don't bother with partisan wish lists and unrealistic proposals that will never solve this debt default crisis," Senate Majority Leader Chuck Schumer, a Democrat, warned House Republicans in a speech to the Senate. But Mace said McCarthy showed rank-and-file Republicans a series of options, projected onto a screen, that included the possibilities of a $1 trillion or $2 trillion debt limit increase with various time frames attached. Perry said referring to a debt limit hike. Hern did not respond directly when asked whether House Republicans would pare back funding for some federal law enforcement, such as the FBI, as former President Donald Trump has urged.

☆ Republicans reportedly want to ban student loan forgiveness and make it harder to get food stamps in a debt ceiling deal — and they seem to want to do it all over again next year
▼ + stars: | 2023-04-13 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans are finally reportedly ready to share their debt ceiling demands as a package. Their package would only raise the debt ceiling for a year, setting up another fight in the middle of the next election. The US is potentially mere months away from breaching the debt ceiling, meaning it'll be unable to pay for the spending that Congress has already authorized. Congress passed a clean debt ceiling raise three times under former President Donald Trump. "I'm very concerned about the debt ceiling," he said.

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