“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)
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"As Trump signed a joint statement with Kim Jong Un that offered few details on how the North Korean leader would make good on his vow to denuclearize, Republicans on Capitol Hill said Tuesday that they want and expect the White House to submit any final agreement for their approval." Senate Majority Leader Mitch McConnell called for any agreement to be in the form of a treaty.
President Trump announced that the United States will suspend "war games" with South Korea, which are "inappropriate" given his meeting with North Korean leader Kim-Jong Un. "We will be stopping the war games which will save us a tremendous amount of money," said Trump, "unless and until we see the future negotiation is not going along like it should." The military exercises "carried out each year by the US and South Korean militaries have been consistently cited by Pyongyang as a US rehearsal for war, and a reason it needs to build a nuclear arsenal."
President Trump "heaped praise on North Korean leader Kim Jong Un on Tuesday, calling him 'a very worthy, very smart negotiator' and vowing to meet with him 'many times.' Speaking to reporters in Singapore after his landmark summit with Kim, Trump said that he found the North Korean premier to be a 'very talented man' who 'loves his country very much.'"