Thursday, April 20, 2017
House GOP releases Dodd-Frank replacement bill, sets hearing
The Washington Examiner
The Washington Examiner reports, “House Republicans released their updated bill to replace former President Barack Obama's financial reform law Wednesday and set a hearing on the sweeping legislative package for next Wednesday.” “The new text for the bill, the Financial Choice Act of 2017, weighed in at 593 pages, far fewer than the 2010 law it is meant to supplant but longer than last year's version. The main premise of the bill is to cut back the rules imposed by the Dodd-Frank law. And for banks that opt to maintain a high level of capital, which would reduce the odds of bank failures and increase market discipline, the bill would provide for relief from several layers of regulation.”
Why This Matters: Dodd-Frank is harming American business. Sign the petition to tell lawmakers!
GOP under pressure as tax reform deadline slips
The Hill reports, “With the deadline for tax reform slipping, some prominent conservatives are pressing President Trump and congressional Republicans to change course. Trump and the GOP have been pushing forward with efforts to make tax changes to both the individual and corporate tax systems in a single bill, with a goal of enacting them by August.” “House Ways and Means Committee Chairman Kevin Brady (R-Texas), the point man for tax legislation in the House, this week said he hopes Congress doesn’t begin by only cutting taxes for businesses."
Why This Matters: We can’t afford not to act - the United States is falling behind simply by standing still. Take Action Now!
U.S. Jobless Claims Rise for First Time in Four Weeks
The Wall Street Journal
The Wall Street Journal reports, “The number of Americans applying for new unemployment benefits rose last week, but remained at a low level, suggesting steady job growth. Initial jobless claims, a proxy for layoffs across the U.S., increased by 10,000 to a seasonally adjusted 244,000 in the week ended April 15, the Labor Department said Thursday. Economists surveyed by The Wall Street Journal had expected 240,000 new claims last week. The claims figure for the prior week was unrevised at 234,000.”