Well, it looks like House Republicans are back to the drawing board over what to do about the debt limit.
House Leadership has pulled the plug on proposals that would tie raising the debt ceiling to approval of the Keystone XL pipeline or eliminating the so-called risk corridors in the Affordable Care Act, because neither plan could reach 218 votes, according to a House aide with knowledge of the talks.
The debt limit has been suspended through Feb. 7, and the Treasury Department estimates it can take enough extraordinary measures to last through the end of the month before risking default.
Republicans may seek other priorities in exchange for raising the debt limit, but no clear strategy has emerged.
A number of Republicans have anticipated that the House will eventually vote on a clean debt-ceiling increase. Even conservatives such as Rep. Raul Labrador of Idaho are saying that’s the path forward. “I actually think we should just do a clean debt ceiling,” he told reporters this week. “Give the Democrats their vote. We don’t have to vote for it.”
Another conservative, Rep. Justin Amash of Michigan, echoed that sentiment: “I think at the end of the day we’re basically going to have something equivalent to a clean debt ceiling increase,” he said Tuesday. “I wish they would do something substantive, but they’re not going to, so let’s just avoid the theater and get on with it.”
The risk corridor provision of the Affordable Care Act would partially reimburse insurance companies for people who wind up costing insurers more than they paid in premiums by over 3 percent. The program is only in place for three years, beginning with this year.
On Tuesday, the Congressional Budget Office found that the program would save the government about $8 billion.
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According to the most recent Gallup poll, Hillary Clinton and Donald Trump are equally disliked. The poll, conducted between July 18 and July 25, shows both major party candidates for president are viewed favorably by 37 percent of respondents and unfavorably by 58 percent of respondents. This poll is bad news for Clinton, who has received better favorable and unfavorable ratings in nearly every poll over the last year.
The same day that Donald Trump encouraged Russia to hack the State Department and "find the 30,000 emails that are missing," the GOP nominee for vice president took a more serious approach. "If it is Russia and they are interfering in our elections, I can assure you both parties and the United States government will ensure there are serious consequences," Pence said in a statement. Trump's comments at a press conference this morning were rebuked by individuals across the political spectrum, while some on Trump's team, including prominent surrogate Newt Gingrich, have called his comments a "joke."
The Federal Open Market Committee today voted to leave interest rates alone, but "upgraded its assessment of the economy’s recent performance and said near-term risks to the outlook have diminished, effectively leaving the door open to raise rates later this year, possibly as early as September."
"Spurred by VP pick Mike Pence, a former congressman with close ties to many lawmakers, the Trump campaign in recent weeks has stepped up its courtship of wary Capitol Hill Republicans. And the efforts appear to be bearing fruit." Central to the charm offensive: invitations to more than a dozen "Senate and House members into his family’s private box for some power-schmoozing with him and his kids" during the Republican National Convention.
Donald Trump essentially encouraged more Russian espionage against Democrats in a press conference this morning. "Russia, if you’re listening, I hope you’re able to find the 30,000 emails that are missing,” he said. “I think you will probably be rewarded mightily by our press.” That prompted Brendan Buck, spokesman for House Speaker Paul Ryan to say: “Russia is a global menace led by a devious thug. Putin should stay out of this election.”