What is hot today in Washington!

House Appropriations Committee: Hearing on the SEC’s fiscal 2019 budget request with Chairman Jay Clayton, 9:30 a.m

House Education and the Workforce Committee: Hearing entitled “Worker-Management Relations: Examining the Need to Modernize Federal Labor Law,” 9:30 a.m.

House Financial Services Committee: Hearing entitled “Oversight of the SEC’s Division of Corporation Finance,” 10 a.m.

House Energy and Commerce Committee: Hearing entitled “Perspectives on Reform of the CFIUS Review Process,” 10:15 a.m.

French President Emmanuel Macron took a swipe during an address to Congress on Wednesday at President Trump’s plan to levy a variety of tariffs on U.S. allies and China.

Image result for emmanuel macronMacron insisted that, instead of imposing tariffs, the best way forward is a consensus on trade and using the World Trade Organization to fight against abuses.

“We need a free and fair trade for sure,” he said.

Trump and Macron have met several times at the White House over the past several days. Macron’s visit has included a dinner at George Washington’s Mount Vernon estate and a state dinner on Tuesday night.

The leaders have shown warmth toward each other during their public appearances.

During his speech to Congress, however, Macron said that facing challenges in a growing global economy “requires the opposite of massive deregulation and extreme nationalism.”

“A commercial war is not consistent with our mission, with our history with our current commitments for global security,” Macron told lawmakers on Capitol Hill.

Conservatives are making a push to cut taxes on capital gains as a follow-up to the tax-cut measure President Trump signed into law last year.

Republican lawmakers and prominent conservative leaders such as Grover Norquist say they want capital gains to be indexed to inflation, saying it would give the economy a boost. They are pursuing both legislation and regulatory action in an effort to achieve that goal.

It’s unclear when or if it will happen, but conservatives are bullish about the possibility of a unilateral move by the Trump administration. They feel the odds have been bolstered by Larry Kudlow’s entry into the administration as National Economic Council director.

“It would be phenomenal for the economy,” Norquist said.

Sen. Kirsten Gillibrand (D-N.Y.) is offering a bill to establish retail banking services at every U.S. post office.
Gillibrand’s bill would make the U.S. Postal Service (USPS) offer checking and savings accounts, small-dollar loans, debit cards, cash withdrawals and money transfer services in each of its roughly 30,000 offices.

The proposal has been popular among liberals for several years, but has earned recent mainstream support from prominent progressive politicians. Supporters of postal banking say it could give millions of Americans in areas without banks access to essential financial tools.

U.S. post offices offered banking services in the early 20th century, and supporters of bringing back the practice say it would help undercut predatory lenders and short-term, high-interest “payday” loans.

“For millions of families who have no access or limited access to a traditional bank, the simple act of cashing a paycheck or taking out a small loan to fix a car or pay the gas bill can end up costing thousands of dollars in interest and fees that are nearly impossible to pay off,” said Gillibrand, who is seen as a possible 2020 presidential candidate. Republicans, though, aren’t on board. They are skeptical about whether the post office can effectively offer those services.


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