U.S. Government

  • 2015-06-18 08:50


    --TPA Supporters Agree on Plan B Strategy to Revive Bill
    --If House Passes TPA Bill, Senate Must Vote Again

    WASHINGTON (MNI) - The House is set to vote Thursday on legislation that would renew Trade Promotion Authority, with Republican leaders pledging to follow up passage of TPA with a later vote on a separate bill that renews the Trade Adjustment Assistance program which Democrats have insisted must be part of the trade strategy.

    This follows the crushing defeat last Friday of trade legislation, after Democrats voted against TAA as a strategy to kill TPA.

  • 2015-06-18 08:45


    --TPA Supporters In House Hope New Approach Will Work
    --If House Passes TPA Bill, Senate Must Vote Again

    WASHINGTON (MNI) - The House is set to vote between 10 a.m. and 11 a.m. ET Thursday on legislation that would renew Trade Promotion Authority.

    If TPA passes in the House, Republican leaders have pledged to follow up a later vote on a separate bill that renews the Trade Adjustment Assistance program as part of a customs bill.

    The House will vote Thursday on TPA legislation, attaching it to legislation that has already cleared the Senate.

    If TPA is approved by the House, it will be sent back to the Senate.

    The Senate would still have to vote on the measure before it went to President Obama for his signature.

  • 2015-06-18 08:36


    --TPA Supporters Agree On Plan B Strategy To Revive Bill
    --If House Passes TPA Bill, Senate Must Vote Again

    WASHINGTON (MNI) - The House is set to vote later Thursday on legislation that would renew Trade Promotion Authority, with Republican leaders pledging to follow up passage of TPA with a later vote on a separate bill that renews the Trade Adjustment Assistance program.

    The House vote on Thursday follows the crushing defeat last Friday of trade legislation.

    The House will hold a new vote Thursday on TPA legislation, attaching it to legislation that has already cleared the Senate.

    If TPA is approved by the House Thursday it will be sent back to the Senate.

  • 2015-06-17 17:34


    --In Joint Statement, GOP Leaders Signal New Trade Strategy
    --Republican Leader Signal TAA To Go On Customs Bill
    --House Panel To Hold Hearing On Repatriation/Highways

    WASHINGTON (MNI) - Senate Majority Leader Mitch McConnell, House Speaker John Boehner, and House Majority Leader Kevin McCarthy said Wednesday they are committed to congressional passage of both Trade Promotion Authority legislation and Trade Adjustment Assistance legislation, pledging to send both bills to President Barack Obama for his signature.

    In a joint statement, the three Republican leaders signalled they have decided on a strategy on how to move forward on stalled trade legislation.

    "We are committed to ensuring both TPA and TAA get votes in the House and Senate and are sent to the

  • 2015-06-17 17:10


    --Updating 15:30 ET Story; Adding Quotes
    --Treasury Prepares to Release Report on Oct 14 Mkt Turmoil

    WASHINGTON (MNI) - Within the now-familiar partisan badgering Wednesday with which Republicans in the House routinely greet appearances by Treasury Secretary Jack Lew, there emerged signs of some additional intensity in official concern with market liquidity constraints and of enduring concern by regulators with the asset management industry and the "run risk" of money market mutual funds.

    Lew's testimony before the House Financial Services committee was a regular visit to report on the latest annual report and priority list of the Financial Stability Oversight Council of regulators he heads, but questioning ranged far beyond that subject.

    Many questions a

  • 2015-06-17 11:15


    --10% Of Multiemployer Pensions Could Run Out of Money
    --Law Now Requires Beneficiaries Vote on Pension Cuts

    WASHINGTON (MNI) - The guardian of TARP distributions, BP Gulf reparations, GM ignition key payments, 9/11 victim awards, Boston Marathon and Virginia Tech memorial funds - attorney Kenneth Feinberg - is moving back to Treasury to try to hold back the expected wave of certain multi-employer pension cuts, the department said Wednesday.

    Feinberg will be a Special Master reviewing applications from union and companies that jointly administer some pension funds that say they are being forced to cut pension payments.

    "Most of the more than 10 million participants in multiemployer pension plans will not see their benefits reduced," the Treasury Departmen

  • 2015-06-17 10:39


    --Senate Budget Committee Reviews New CBO Report
    --House Budget Committee Renews Call for Balanced Budgets

    WASHINGTON (MNI) - Trying to keep the focus on the nation's major fiscal challenges, the Senate and House Budget Committees are holding hearings Wednesday on the U.S.'s dire long-term fiscal outlook and the rationale for balanced federal budgets.

    The Senate Budget Committee is now receiving testimony from Keith Hall, the director of the Congressional Budget Office.

    Hall is reviewing the CBO's updated long-term fiscal outlook which was released Tuesday.

    "The long-term outlook for the federal budget has worsened dramatically over the past several years, in the wake of the 2007-2009 recession and slow recovery," Hall said.

  • 2015-06-17 10:10


    --House GOP Ponder Vote To Pass TPA How, Deal W/TAA Later
    --Republican Leaders Float Ideas To Pro-Trade Democrats

    WASHINGTON (MNI) - Now that the immediate shock of Friday's consequential votes on trade have passed, Republican leaders in Congress and top officials in the White House are actively working on a new strategy to pass trade legislation.

    The House voted Friday 219 to 211 to pass legislation renewing Trade Promotion Authority for the president.

    However before that vote, the House rejected a bill to renew the Trade Adjustment Assistance program, defeating the bill on a 126-to-302 vote.

    Under the rules the House adopted to consider the trade legislation, both measures needed to advance in order for the entire package to go forward.

    In late

  • 2015-06-16 15:14


    --Senate Majority Leader: 'We're Not Giving Up' On TPA
    --Sen.

  • 2015-06-16 14:50


    WASHINGTON (MNI) - The following is the "readout" provided by the Treasury Department Tuesday of an afternoon telephone call between U.S. Treasury Secretary Jack Lew and Greek Prime Minister Alexis Tsipras:

    U.S. Treasury Secretary Jacob J. Lew spoke by phone with Greek Prime Minister Alexis Tsipras this afternoon. Secretary Lew reiterated that the Treasury Department remains engaged with all sides regarding the evolving situation in Greece. Secretary Lew underscored the urgency of Greece making a serious move to reach a pragmatic compromise with its creditors, and that failure to reach an agreement would create immediate hardship for Greece and broad uncertainties for Europe and the global economy.