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☆ Biden, McCarthy reach final deal to prevent default, now must sell to Congress
▼ + stars: | 2023-05-28 | by ( ) www.cnbc.com time to read: +7 min

"Good news," Biden declared Sunday evening at the White House. "The agreement prevents the worst possible crisis, a default, for the first time in our nation's history," he said. Biden told reporters at the White House upon his return from Delaware that he was confident the plan will make it to his desk. Top White House officials were briefing Democratic lawmakers and phoning some directly to try to shore up support. House Democratic leader Hakeem Jeffries of New York said on CBS' "Face the Nation" that he expected there will be Democratic support but he declined to provide a number.

☆ With Debt Limit Deal in Hand, McCarthy and Biden Turn to Task of Selling It
▼ + stars: | 2023-05-28 | by ( Luke Broadwater | Chris Cameron | ) www.nytimes.com time to read: +1 min

“Terrible policy, absolutely terrible policy,” Representative Pramila Jayapal, Democrat of Washington, said on CNN’s “State of the Union,” referring to the work requirements for food stamps and other public benefit programs. Some on the right had already ruled out doing so before seeing the details. “No one claiming to be a conservative could justify a YES vote,” Representative Bob Good, Republican of Virginia and a member of the House Freedom Caucus, wrote on Twitter. Representative Dan Bishop, Republican of North Carolina, posted his reaction to news of the deal: a vomit emoji. Some Senate Republicans, who under that chamber’s rules have more tools to slow consideration of legislation, were also up in arms.

A debt deal is in sightInvestors are holding their breath on Friday morning, amid signs that the White House and top House Republicans are closing in on a deal to raise the debt limit and avert a government default. According to reports, a compromise could come as soon as Friday, paving the way for Congress to vote as soon as Tuesday. Negotiators have narrowed their differences and are just $70 billion in spending cuts away from a deal, according to Reuters. In a win for Republicans, Congress would take back $10 billion of the $80 billion it had allocated to the I.R.S. On the left, Representative Pramila Jayapal, the Washington Democrat who leads the 101-member House Progressive Caucus, predicted “a huge backlash” if the White House caved to Republican demands.

☆ Republicans are holding the American economy 'hostage' over the debt ceiling after rejecting Biden's offer of $3 trillion in deficit cut proposals, House Progressive Caucus says
▼ + stars: | 2023-05-24 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +4 min

Republicans have refused to raise the debt ceiling without reducing the deficit. The US could default on its debt in less than a week unless Congress raises the debt ceiling. House Democrats blame this "reckless hostage taking" on Republicans. House Democrats have flipped the switch. House Democrats are blaming their Republican colleagues for rejecting Democratic proposals to reduce the deficit.

☆ Why some Democrats think Biden shouldn't worry about legal challenges that would come from getting rid of the debt ceiling forever
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A US default could be days away, and Congress still doesn't have a debt ceiling deal. Some Democrats think Biden should use the 14th Amendment to address the crisis. On Monday evening, McCarthy and Biden met once again to attempt to reach an agreement on raising the debt ceiling and avoiding an unprecedented default. Experts and lawmakers have said that this clause makes a default, and therefore the debt ceiling, unconstitutional, getting rid of the issue forever. Anna Moneymaker/Getty ImagesWhy Biden shouldn't worry about legal challengesNo president has ever invoked the 14th Amendment to address the debt ceiling.

☆ Congress could have as little as 10 days to solve the debt ceiling crisis before Americans might start losing federal benefits and retirement savings
▼ + stars: | 2023-05-22 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

If the US were to breach the debt ceiling, millions of Americans could lose jobs and retirement savings. A breach would also hit Americans in their wallets: A Joint Economic Committee analysis previously found that failure to lift the debt ceiling could cost workers $20,000 in retirement savings. "I think we can solve some of these problems if he understands what we're looking at," McCarthy told reporters on Sunday. Another option that's been gaining steam in Congress is invoking a clause in the 14th Amendment that would declare the debt ceiling unconstitutional, getting rid of the problem forever. But even with potential litigation, some Democratic lawmakers think Biden should do whatever it takes to ensure the US does not default on its debt.

☆ Biden's Education Department just released its 'strongest-ever' plan to ensure student-loan borrowers don't graduate with unaffordable debt
▼ + stars: | 2023-05-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

The Education Department released its new proposal for a strengthened gainful employment rule. The rule would place safeguards for borrowers to ensure they don't take on more student debt than they can afford. "Ever since the Trump Administration illegally repealed the 2014 Gainful Employment rule, students have been left unprotected from predatory higher ed profiteers," Ament said. The gainful employment rule has drawn criticism from for-profit schools in the past who have argued that they were being targeted by the strengthened regulations. Democratic lawmakers have previously pushed for a strengthened gainful employment rule.

☆ AOC says Biden choosing to compromise with the GOP on a debt ceiling deal would be 'profoundly destructive,' and the White House should 'expect pushback on nearly any significant concession'
▼ + stars: | 2023-05-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Biden is set to meet with top lawmakers on Tuesday to discuss a potential debt ceiling agreement. McCarthy passed a bill in the House that would raise the debt ceiling through March of next year, and it was accompanied by over $4.5 trillion in spending cuts. Even so, some progressive lawmakers have warned the president that he should not bend on Democratic priorities to raise the debt ceiling. Multiple reports have suggested that the White House was considering compromising on rescinding unspent pandemic funding and energy permitting reform in a debt ceiling deal. Democrats – including President Biden – have been clear: these dangerous proposals are not going anywhere.

☆ The Federal Reserve just hiked interest rates for the 10th time in a row. It could be the last.
▼ + stars: | 2023-05-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve raised interest rates by 25 basis points on Wednesday. On Wednesday, the Federal Open Market Committee (FOMC) announced it is raising interest rates by 25 basis points for the third time this year. Fed Chair Jerome Powell has indicated he wants to see wage growth cool off before considering a pause on interest rate hikes. Still, while the Fed didn't see the necessary data to pause interest rate hikes this time around, there's a possibility it could happen in June. "How much further will depend on incoming data on inflation, the real economy and the extent of tightening credit conditions."

Sen. Bernie Sanders is introducing a bill on Thursday to raise the minimum wage to $17 an hour. The federal minimum wage is $7.25, and it's remained unchanged since 2008. Sanders has long pushed for a higher federal minimum wage, although he's been more recently stymied by centrist Democrats. Scott said in a statement at the time that even before the pandemic, "the $7.25 federal minimum wage was economically and morally indefensible." Mandating a $15 minimum wage would put many of them out of business."

☆ Hakeem Jeffries is enjoying an early honeymoon leading House Democrats. But one day, he'll have to make 'hard commitments.'
▼ + stars: | 2023-05-01 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +16 min

House Democrats say Hakeem Jeffries is a better listener and is more consensus-oriented than Pelosi. There's one big reason for it: House Democrats can't pass any of their own bills right now. Pelosi and Jeffries on the House floor after she announced she would step down from party leadership on November 17, 2022. 'He gets it'Jeffries, 52, has enjoyed a rapid ascent to the top of the Democratic caucus. "There were always very different views within the Democratic caucus on people who voted their district," said Slotkin.

☆ Alexandria Ocasio-Cortez says Marjorie Taylor Greene is the Republican who's really in charge of the party and McCarthy is doing her bidding
▼ + stars: | 2023-04-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

She said that Greene was actually more powerful than House Speaker Kevin McCarthy. "Every time something irks her, she communicates that McCarthy is doing her bidding," said Ocasio-Cortez of Greene. "Speaker McCarthy, in order to become Speaker, had to cut some deals we still don't know the details on. "I think you've got Marjorie Taylor Greene running the caucus." I think that Speaker McCarthy is stuck between having to please the most racist and heinous elements of his party with having to maintain a majority.

☆ Biden seeks expanded health insurance access for DACA participants
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leah MillisWASHINGTON, April 13 (Reuters) - The Biden administration is seeking to allow immigrants illegally brought to the United States as children greater access to health insurance through federal programs, the White House said on Thursday. The proposal would allow participants in the Deferred Action for Childhood Arrivals program, or DACA, to access to health insurance under Medicaid and Affordable Care Act (ACA) exchanges, it said. I've worked hard to get more Americans health insurance than ever before," President Joe Biden said on Twitter, adding the move would give "Dreamers the same opportunities." About 580,000 people were enrolled as of last year in the Obama-era 2012 DACA program, which grants protection from deportation and work permits. Eight U.S. states have already expanded state insurance access to health coverage regardless of immigration status, according to data from the healthcare policy organization Kaiser Family Foundation.

☆ Secret negotiations and a 'hostage' situation: Republicans and Democrats still can't agree on a plan to save Americans from a debt ceiling catastrophe in just a few months
▼ + stars: | 2023-04-04 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The US could default on its debt this summer if Congress doesn't raise the debt ceiling. But Democrats are accusing the GOP of holding the debt ceiling "hostage," as they have yet to put forth a concrete plan. Republicans have floated a range of areas in which they would support cutting spending to raise the debt ceiling. "Republicans are STILL holding the debt ceiling hostage," Congressional Progressive Caucus Chair Pramila Jayapal wrote on Twitter. Democratic lawmakers have previously highlighted the catastrophe for Americans that will likely result should Congress fail to raise the debt ceiling.

☆ Biden could protect student-loan borrowers from being stuck with useless degrees and a lot of debt by bringing back a rule Trump ditched, progressive lawmakers say
▼ + stars: | 2023-04-03 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

It included reinstating and strengthening the gainful employment rule, which protects student-loan borrowers from unaffordable debt post-graduation. Biden delayed implementation of the rule until 2024 and is expected to put out a proposal this month. "The Gainful Employment rule is a cornerstone of our ambitious regulatory agenda," the spokesperson said. Along with reinstating gainful employment, lawmakers and advocates have also called for the executives of for-profit schools to be held liable for costs when the school shuts down, rather than taxpayers and borrowers. Now, lawmakers and advocates await the department's gainful employment proposal.

☆ Airline, banking and rail oversight top U.S. progressives' wish list for Biden
▼ + stars: | 2023-03-30 | by ( Moira Warburton | ) www.reuters.com time to read: +3 min

REUTERS/Jim VondruskaWASHINGTON, March 30 (Reuters) - Liberal Democrats in the U.S. Congress called on President Joe Biden on Thursday to take executive action to crack down on misconduct in the banking, airline and rail transportation industries. The caucus, made up of 101 U.S. House Democrats and independent Senator Bernie Sanders, has grown in influence in recent years under Representative Pramila Jayapal's leadership. "These are actions that we believe the White House and federal agencies have the authority and the ability to take now," Jayapal told reporters on Thursday. With the House of Representatives narrowly controlled by Republicans and the Senate narrowly controlled by Democrats, progress on legislation is increasingly rare, leading presidents to rely more heavily on executive action. Biden's Democratic administration has taken the caucus's advice on multiple occasions, most notably on canceling student debt through executive action.

☆ California Rep. Ro Khanna passes on Senate run and backs liberal icon Barbara Lee over Reps. Katie Porter and Adam Schiff: 'She stood up so strongly against the war in Iraq'
▼ + stars: | 2023-03-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Ro Khanna on Sunday announced that he's backing Rep. Barbara Lee in the 2024 California Senate race. The progressive congressman is endorsing Lee over fellow Democratic Reps. Katie Porter and Adam Schiff. Khanna during his announcement said that Lee would bring a "unique voice" to the upper chamber. Rep. Barbara Lee of California. Scott Applewhite, File"Barbara Lee is a unique voice," Khanna said.

☆ The vote on DC's crime law has nothing to do with crime for some House Democrats
▼ + stars: | 2023-03-08 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +5 min

Most House Democrats voted to uphold DC's criminal code revisions to support the District's right to self governance. That's why he was among 173 Democrats who opposed a GOP-led House measure last month to overturn the District's controversial crime law revisions. "The District of Columbia residents and their local leaders should have the ability to make those decisions," Horsford, of Nevada, told Insider. Rep. Jahana Hayes of Connecticut also told Insider the problem for her was, "Congress intervening and overturning a local vote." House Democrats are furious that Biden left them hanging, especially after his administration put out a statement opposing the GOP measure.

☆ House Democrats are skeptical about Biden's call for working with GOP: 'Marjorie Taylor Greene seems to be the lead spokesperson these days'
▼ + stars: | 2023-03-04 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +4 min

Biden says Republicans can help build a "significant majority" for Dem priorities in a GOP House. "It looks like it's Marjorie Taylor Greene and extreme MAGA Republicans," Rep. Pramila Jayapal said. They question whether they can work with House Republicans on anything beyond "must-pass" legislation when they say "extreme" GOP members seem to be leading the caucus. And you know, Marjorie Taylor Greene seems to be the lead spokesperson these days." "You're gonna have a lot of Republicans running our way," he told House Democrats on Wednesday night.

☆ Progressive Rep. Pramila Jayapal says Biden is 'very, very interested' in getting more workers overtime pay
▼ + stars: | 2023-03-02 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +2 min

Now a key progressive leader says President Joe Biden is "very, very interested" in their recommendation. Rep. Pramila Jayapal of Washington said she spoke this week with Biden about the recommendation, which could allow more than 30 million workers to get paid overtime "for work they're already doing." Jayapal said she spoke with Biden about the issue at a White House event celebrating Biden's nomination of Julie Su as Labor Department secretary. The White House did not immediately respond to a request for comment. The Congressional Progressive Caucus included the measure last year on a slate of recommended executive actions for the president.

☆ As the 4-day workweek gains traction, Congressman Mark Takano is reintroducing his proposal to make it law
▼ + stars: | 2023-03-01 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Takano is reintroducing his act to make the standard workweek just 32 hours long. Takano has reintroduced his 32 Hour Workweek Act, which would tweak the Fair Labor Standards Act (FLSA) to make the standard workweek 32 hours, instead of the 40 it's currently at. It's not the first time that Takano has pushed to make the working week shorter. "So a four-day work week is something that connects a lot of Americans." Last month, Maryland lawmakers introduced the Four-Day Workweek Act of 2023, which would reduce an employee's workweek to 32 hours without cutting their pay while giving employers a tax credit.

☆ A group challenging Biden's student-loan forgiveness in the Supreme Court this week says it's 'very clear' the relief is illegal: 'We feel very good about our case'
▼ + stars: | 2023-02-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Job Creators Network, one of the groups challenging Biden's student-debt relief in the Supreme Court, said it feels "very good" about its case. On Tuesday, the Supreme Court will hear arguments for two lawsuits that blocked the relief. Biden's administration and Democrats have pushed back on the plaintiffs' standing to sue. On Tuesday, the Supreme Court is taking on two lawsuits that paused Biden's plan to cancel up to $20,000 in student debt for federal borrowers. Both of the lawsuits challenging Biden's plan said the broad debt relief is an overreach of that authority and should not be done without Congressional approval.

☆ Days before the Supreme Court takes on Biden's student-loan forgiveness, Elizabeth Warren urges it to 'do its job and apply the law as it is written'
▼ + stars: | 2023-02-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Sen. Elizabeth Warren urged the Supreme Court to uphold Biden's student-debt relief. "The Supreme Court needs to do its job and apply the law as it is written." GOP Sen. Marsha Blackburn, for example, wrote on Twitter on Thursday that "canceling student debt is Biden's gift to young left-wing activists. She also led GOP senators in filing an amicus curiae brief to the Supreme Court urging it to strike down Biden's debt relief. This scale of student-loan forgiveness is unprecedented, so it's hard to determine which way the Supreme Court will rule.

☆ Bernie Sanders says it's time for a four-day work week
▼ + stars: | 2023-02-21 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. Bernie Sanders said on Twitter that it's time for a four-day work week. Sanders referenced new findings from a UK-based four-day work week pilot program. The progressive from Vermont chimed in on the four-day work week debate on Twitter, writing: "With exploding technology and increased worker productivity, it's time to move toward a four-day work week with no loss of pay. Sanders was referencing the latest findings out of the UK on the four-day work week. "So a four-day work week is something that connects a lot of Americans."

☆ Lawmakers call on 8 states to pass wealth taxes to help pay for childcare, affordable housing, and ending homelessness
▼ + stars: | 2023-01-19 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Lawmakers and advocates are pushing to pass wealth taxes in eight states, after a federal plan failed to pass. The taxes would target both realized and unrealized capital gains, assets like stocks and bonds. "Funding our future means using the revenue generated from the Washington state wealth tax to expand access to affordable homes for working Washingtonians," Frame said. In California, a wealth tax on the unrealized capital gains of the top 0.1% would yield nearly $22 billion, according to California assembly member Alex Lee. Targeting capital gains and unrealized gains are not a new idea, but haven't been able to pick up the federal traction they need to be implemented across the country.

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