BATTLE FOR THE SENATE | WV-sen | FL-sen | MI-sen | IN-sen | ND-sen | OH-sen | PA-sen | MT-sen

Bipartisan Coalition Moves to Weaken Banking Rules

Casey, Brown, and Manchin lent Trump some support on tariffs.

Kimberly Railey and Nia Prater
Add to Briefcase
See more stories about...
Kimberly Railey and Nia Prater
March 7, 2018, 10:43 a.m.

“A plan to scale back post-financial crisis banking rules cleared a key Senate hurdle Tuesday, with a bipartisan coalition voting to move the measure toward passage,” including Sens. Jon Tester (D-MT), Heidi Heitkamp (D-ND), and Joe Donnelly (D-IN).

“If passed, the measure would mark the most significant revision of banking rules since Congress passed a sweeping financial regulatory law in response to the 2008 economic crisis.” The trio “helped negotiate the banking legislation with its GOP sponsor, Banking Committee Chairman Mike Crapo.” (Washington Post)

Sens. Debbie Stabenow (D-MI) and Bill Nelson (D-FL) also voted to advance the bill. (Washington Examiner)

UNLIKELY SUPPORT. President Trump might have some support for his controversial trade tariffs from an unlikely place: Senate Democrats. Senators Bob Casey (D-PA), Sherrod Brown (D-OH), and Joe Manchin (D-WV) represent states with a heavy investment in metal industries that also voted for Trump in 2016. Trump’s tariffs on aluminum and steel offer the three senators “a chance to tout their bipartisan credentials and defend their home-state metals industries all at once.”

Casey, who has emerged as a strong critic of Trump, admitted that agreeing with the president on an issue “doesn’t happen that often” and said “I’m happy to see action being taken.”

Brown said he might’ve went about the issue a different way, but “I have urged him to move on this, and I did it publicly, and I’m glad he has moved on this.”

“Manchin described the issue as ‘one of the many’ things he and Trump agree on, adding that the tariffs push is “a chance to look at all these agreements we have, what they’ve done to our country and find out a way to correct it.” (Politico)

What We're Following See More »
NIELSEN AT WH NOW
Trump to Sign “Something”
35 minutes ago
THE LATEST
TRUMP HASN’T GIVEN SUPPORT
Kirstjen Nielsen Drafting Order To End Family Separation
1 hours ago
THE LATEST
KIM, XI DISCUSS DENUCLEARIZATION
North Korea to Begin Returning U.S. Remains
2 hours ago
THE LATEST

"North Korea could start the process of handing over the remains of troops, including Americans, missing from the Korean War within the next few days, two U.S. officials told Reuters on Tuesday." Separately, Kim Jong-un and Chinese President Xi "came to an understanding on issues discussed at a summit of the two leaders, including denuclearization of the Korean peninsula, the North’s state media said on Wednesday."

Source:
TOPS COMCAST’S OFFER
Disney Outbids Comcast’s Latest Offer For Fox
3 hours ago
THE LATEST

"Twenty-First Century Fox Inc said on Wednesday that Walt Disney Co has raised its offer for Fox assets to $38 per share," bringing the total price to $71.3 billion, and "topping Comcast Corp’s $35 a share offer last week. The new Disney offer, which would be in cash or stock divided proportionately, is about $10 higher than Disney’s first bid in December 2017." The offers come at a time "when legacy media and distribution companies are looking to expand to better compete with younger media firms" like Netflix that sell content directly to customers.

Source:
TRUMP VISITS UK NEXT MONTH
Theresa May Condemns U.S. Border Detentions
4 hours ago
WHY WE CARE
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login