Posts Tagged ‘Chuck Schumer’

The Coming “Corporate Welfare” Vote

Tuesday, July 8th, 2014 by Geoffrey Lyons

“IT IS HEREBY DECLARED,” wrote President Roosevelt on a chilly February day in 1934, “that an agency, to wit, a banking corporation, be created….” Thus emerged, by virtue of Executive Order 6581, the Export-Import Bank of Washington. Eighty years later, the Ex-Im Bank is facing mounting opposition by conservative groups who claim it’s nothing more than a benefactor of corporate welfare.

They have a point: over 80% of the bank’s loan guarantees go to Boeing, which is no wonder competitors like Delta are irked by the bank’s favoritism.  On the other hand, supporters say the bank is needed to compete internationally on an “uneven playing field.”  Countries like China, they claim, have no qualms pumping government subsidies into the coffers of leading companies, so voluntarily terminating similar practices at home would amount to “unilateral disarmament.”

Both sides of the debate face a similar challenge: August recess.  In order to build a solid, bipartisan coalition to either pass or block a new charter before Congress goes home, policymakers need to move quickly.  According to Sen. Chuck Schumer (D-N.Y.), there’s enough support in the Senate to reauthorize the bank.  Yet there are singular obstacles in the House, not least of which is House Financial Services Committee chairman Rep. Jeb Hensarling (R-Texas), a strident opponent of the Ex-Im bank who could single-handedly squash any efforts at the committee level.

While on the surface it seems Congress is on track to renew the Ex-Im bank’s charter (with some key reforms to satiate conservatives), it’s not entirely certain how things will play out.  Many policymakers, including John Boehner and John McCain, appear undecided.  And even if they did come out in favor of the bank, there would be precious little time on their side.

Is DISCLOSE On Its Way Back?

Monday, August 23rd, 2010 by Vbhotla

Will Washington once again see action on a signature piece of Democratic legislation? According to National Journal’s Hotline On Call, Senate Democrats are planning to reopen the campaign finance issue after the August recess – in the hope that the delay will mitigate some moderate Republicans’ objections to the hurried legislation.

Although the process from conception of the legislation to passage in the House took more than 4 months, Sen. Harry Reid chose to bring up the issue for a cloture vote on July 27 in the Senate. It ultimately failed, with Sen. Reid voting no ultimately to preserve his right of cloture. Moderate Republican Senators Scott Brown (Mass.), Olympia Snowe (Maine), and Susan Collins (Maine) are the swing votes on this issue – all have expressed reservations about what they view as the majority’s unseemly haste – seemingly in order to influence the November elections.

Since passing the bill in September or October would mean that it would not impact this year’s pivotal elections, Democrats hope that the moderate Senators, who may have supported campaign finance reform in a different format, will be able to overcome their skepticism. Express Advocacy’s William McGinley reports that Sens. Schumer (D-N.Y.) and Leahy (D-Vermont) sent a campaign email specifically mentioning the DISCLOSE Act.

Story from Hotline on Call is here: “DISCLOSE Act will get second look.”

DISCLOSE Gets a Second Life

Monday, July 26th, 2010 by Vbhotla

When DISCLOSE went to the Senate after passage in the House on June 24, it included some controversial elements – and faced a tough road in the Senate.

But this week, it may have a chance at final passage. Sen. Chuck Schumer’s (D-N.Y.) push for the bill now includes a brand-new version of the bill. Introduced on July 22 (after the first attempt at passage had been shelved) Sen. Schumer’s new bill, at 116 pages, seems to include much of the original language, and seeks to amend the FECA.

The original legislation, H.R.5175 and S.3295, was under fire by moderates and more conservative Senators alike, with complaints ranging from accusations of attempts by Democrats to change the political landscape from the top down, to complaints of special treatment of the National Rifle Association or various unions.

The bill aims to shortcut the committee process and bring the bill to a vote on Tuesday. Read the new version of the bill here (PDF).The text has not yet been received in the Government Printing Office, and is therefore not available on Thomas. However, a PDF of the bill is available here at Express Advocacy.

According to Politico, “Schumer has left intact a contentious provision exempting the National Rifle Association and several other large organizations from the reporting requirements of the legislation. But he has removed other language that had been backed by the AFL-CIO and other unions excusing the labor organizations from having to report money transfers between affiliates.”

Read the story at Politico.