Progressive Breakfast for December 3 Morning Message A Democratic Party in Search of its Soul ... the party can be rejuvenated, but that won’t happen unless the values of its progressive wing prevail over those of its more corporate-friendly faction. The Democrats’ nascent soul can be glimpsed in the work of good people inside and outside the party. But progressives need to understand that change won’t come easily, or by acclamation. There are debates to be held, primaries to be fought – and, for some Democratic politicians, some difficult choices to be made ... not all Democrats share their values. It will take hard work if Democratic reformers are to reclaim their party. It can be done, but it won’t be easy. The lessons of history are clear: powerful people don’t surrender their privileges without a fight. War Over Nominees Weiss nomination a “proxy fight” between progressives and centrists. Politico: “…Warren and other progressives say the Obama administration continues to send up too many Wall Street-friendly nominees for top economic and regulatory jobs while refusing to listen to possible alternatives with regulatory backgrounds and more consumer-friendly approaches.” Warren pushes for better Fed nominees. The Hill: “…after successfully driving President Obama to nominate Janet Yellen to lead the Fed, some Senate Democrats are again pressing the administration about openings at the central bank. Sens. Elizabeth Warren (D-Mass.) and Joe Manchin (D-W.Va.) are vocally calling on Obama to nominate tough-nosed Wall Street watchdogs to fill out two board spots that often are filled by academics or economists.” Congress Backs Away From Shutdown “Reid backs Boehner on deal to avoid government shutdown” reports The Hill: “The proposal, which Boehner relayed to his conference in a closed-door meeting on Tuesday, ties 11 appropriations bills funding most of the government through September to a separate, shorter-term continuing resolution (CR) funding the Homeland Security Department through March … By only funding immigration-related agencies for a short time, lawmakers could revisit the issue next year when both the House and Senate are under GOP control … ‘That would be a big accomplishment if we could get a bill over here that would fund all the appropriations subcommittees except for one,’ Reid told reporters.” “Conservatives scoff” reports Politico: “These conservatives estimate the number of Republican ‘no’ votes near 30 to 40 – enough to derail a vote on the government funding bill if Democrats oppose the measure.” But “Republicans have already blinked” says W. Post’s Dana Milbank: “Unwilling to squander their new majority and public support by risking a government shutdown, they are quickly falling in line behind symbolic protests.” Republicans Really Want To Raise Taxes On The Poor “Republicans Back to Raising Taxes on the Poor” notes NY Mag’s Jonathan Chait: “…first Republicans made the tax breaks for business permanent, while allowing the tax breaks for low-income workers to expire at the end of 2017 … Families earning $10,000 to around $25,000 a year would lose nearly $2,500 a year — a punishing blow to the working class … Amazingly, Democrats in the Senate like Harry Reid and Chuck Schumer agreed to this plan. Before Thanksgiving, Obama threatened a veto, causing Reid to beat a hasty retreat.” “Bonus depreciation” is a “shady” giveaway to businesses, argues David Super in NYT oped: “…bonus depreciation allows a business to pretend that its buildings and equipment wear out far faster than they actually do … The bonus-depreciation provision expired at the end of 2013, after several extensions. House Republicans, however, are fighting to revive it retroactively for the 2014 tax year and make it permanent. This makes no sense … why should we artificially favor spending on capital assets over spending on employee salaries?” Support grows for narrow tax break extension. The Hill: “The House is expected Wednesday to easily approve legislation worth $45 billion that would restore dozens of tax breaks that lapsed at the end of 2013 only through the end of the current year. With the White House signaling it can live with the legislation, and House Democrats expressing support, Senate Majority Leader Harry Reid (D-Nev.) must decide whether to overrule members of his caucus who take issue with the plan.” Breakfast Sides Many deadlines for Congress will bedevil Republican majority. NYT: “Absent congressional action, a host of business and personal tax breaks expires on Jan. 1. The government’s borrowing limit is reinstated on March 16, although the government might not actually hit the ceiling until August. On March 28, unless lawmakers act, physician reimbursements fromMedicare drop off a cliff. On May 31, the highway trust fund runs out of money. In June, the Export-Import Bank, which helps finance overseas purchases of American exports, might shut in the face of conservative opposition to its mission. Then on Sept. 30, the entire Children’s Health Insurance Program faces its expiration. A few days later, across-the-board spending cuts loom once again.” “Parts of Detroit Lose Electricity for Hours as Aging Grid Fails” reports AP: “The electrical grid has been plagued by aging transmission lines, which have failed under the stress of high demand. Power to downtown has been lost several times in recent years.”
Posted on: Wed, 03 Dec 2014 15:00:57 +0000
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