Tag Archives: Proposal

Mitch McConnell rejected Chuck Schumer's impeachment trial proposal. Schumer wants to know what he’s 'afraid of.'

Mitch McConnell rejected Chuck Schumer's impeachment trial proposal. Schumer wants to know what he’s 'afraid of.'Senate Minority Leader Chuck Schumer (D-N.Y.) wants to know what his GOP counterpart is afraid of.Senate Majority Leader Mitch McConnell (R-Ky.) on Tuesday rejected Schumer's proposal to simultaneously agree to witnesses and the parameters of President Trump's possible Senate impeachment trial, accusing him of trying to "short-circuit" their plan to negotiate the trial together. McConnell seemed particularly upset that Schumer released his letter on the matter to the press before discussing it with him first."It's not the Senate's job to leap into the breach and search desperately for ways to get to 'guilty,'" McConnell said.Schumer on Sunday said he wanted multiple Trump administration officials, including Acting White House Chief of Staff Mick Mulvaney and former National Security Adviser John Bolton, to serve as witnesses in the trial. He is also seeking relevant documents blocked by the Trump administration.McConnell, while he reportedly still wants to meet with Schumer, called the request "dead wrong" and a "fishing expedition."Schumer responded quickly Tuesday, hinting that he thinks McConnell is worried about what the proposal might reveal.> Senator Mitch McConnell has not offered one argument as to why the witnesses I suggested should not give testimony. > > Impeachment trials have witnesses. > > Why does Senator McConnell oppose having a trial that hears from relevant witnesses? > > What is he afraid of? pic.twitter.com/WNNAPENcLm> > — Chuck Schumer (@SenSchumer) December 17, 2019But not everyone sees it that way, including Sen. Mitt Romney (R-Utah), one of Trump's harshest Republican critics. In Romney's view, McConnell is just trying to stick with the precedent. > Mitt Romney told me he has no issue with McConnell's rejection of Schumer proposal for live witnesses. "My read of his comments were that he's looking for the same process that was employed during the Clinton impeachment trial," adding: "I don't have any reason to question that"> > — Manu Raju (@mkraju) December 17, 2019More stories from theweek.com Adam Driver reportedly walks out of NPR interview after not wanting to listen to himself in Marriage Story How the fall of Elizabeth Warren has shaken up the 2020 race Hundreds of pro-impeachment rallies held across the United States on eve of House votes



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Andrew Yang’s ‘Freedom Dividend’ Echoes a 1930s Basic Income Proposal that Reshaped Social Security

Andrew Yang’s ‘Freedom Dividend’ Echoes a 1930s Basic Income Proposal that Reshaped Social SecurityAndrew Yang wants to give Americans $ 1,000 a month.



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Elizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk

Elizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk(Bloomberg) — The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the U.S., has energy investors worrying about risks to hydraulic fracturing.“What happens if Elizabeth Warren becomes president and bans fraccing?” was the most common question Sanford C. Bernstein received during recent marketing, analysts led by Bob Brackett said in note Tuesday. They don’t currently have a good answer.Concern on Wall Street has been rising along with Warren’s poll numbers, with sectors such as financials, health care and industrials as well as energy identified among those at risk from her policy proposals.In early September, Warren tweeted that she would ban fracking “everywhere” if she becomes president:READ MORE: The 2020 Democrats Agree on 7 Ways to Fight Climate ChangeThe former part of Warren’s plan would have a modest longer-term impact given the “mature state” of areas such as onshore Alaska or the federal Gulf of Mexico, according to Bernstein. However, a fracking ban would offer “much more immediate consequences,” and be “incredibly bullish for both global oil prices and U.S. natural gas prices.”Federal leasing changes could have the most impact on shale drillers such as EOG Resources Inc. and Devon Energy Corp., Brackett said. Kosmos Energy, Hess Corp., Apache Corp. and ConocoPhillips may have little to worry about from a fracking ban, however.Still, any impact from a Warren win may be short-lived. “We have a government with checks and balances,” Brackett noted, pointing to processes which have caused executive orders to be moderated. He also highlighted the ability of E&Ps to re-allocate capital to mitigate effects.And, as RBC Capital Markets wrote earlier this week, most of the sectors seen to be at high risk “are already deeply undervalued versus the broader market.”Canada ImplicationsThere may also be some beneficiaries. UBS analyst Lloyd Byrne recently identified Canadian producers such as Canadian Natural Resources Ltd. and Suncor Energy Inc. as likely to gain from curbs on drilling in U.S. federal acreage.Though at least one investment bank isn’t so certain Canada’s oil-patch will benefit from a Warren victory, given her and fellow presidential candidate Bernie Sanders haven’t been so friendly on their stance for pipeline projects. Energy investment bank Tudor Pickering Holt & Co. cited Warren’s opposition to Enbridge Inc.’s Line 3 oil pipeline replacement and expansion project, along with the mention of permits being revoked for TC Energy Corp.’s long-delayed Keystone XL oil pipeline.Also, Sanders is opposed to Enbridge’s Line 5 pipeline. “We’d caution the enthusiasm,” analysts from Tudor told clients in a note Wednesday.(Updates section on Canadian energy impact, adds tweet)To contact the reporter on this story: Michael Bellusci in Toronto at mbellusci2@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Morwenna Coniam, Jeremy R. CookeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.



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Bernie Sanders follows up 'wealth tax' proposal with new 'income inequality tax'

Bernie Sanders follows up 'wealth tax' proposal with new 'income inequality tax'After rolling out his "wealth tax" plan, Sen. Bernie Sanders (I-Vt.) is out with another new proposal for what he's calling an "income inequality tax."The 2020 Democrat announced a proposal Monday to increase the corporate tax rate on large companies whose top-earning employee makes more than 50 times what their median employee earns, The Washington Post reports. The average S&P 500 company CEO makes 287 times more than their median employee, Vox reports.This corporate tax rate increase would apply to companies with more than $ 100 million in yearly revenue, with the increase starting at 0.5 percentage points and rising depending on how large the gap is. If the top employee earns more than 500 times more than the median employee, the rate increase would be 5 percent. The corporate tax rate is currently 21 percent.Sanders in an interview with the Post said it's "bad policy" for CEOs to be "making 500 or 1,000 times more than the median income worker," saying this tax would apply to "the most egregious examples." The progressive think tank that worked with Sanders' campaign on the plan described it to Vox as a "sin tax."In his announcement, Sanders calls out specific companies whose CEO makes at least 50 times more than the median worker, including Walmart, Home Depot, and Nike.This announcement comes after Sanders last week announced his "wealth tax" proposal, which went further than a similar proposal from Sen. Elizabeth Warren (D-Mass.). Under his plan, net worth above $ 32 million would be hit with a one percent yearly tax, which would increase up to eight percent for net worth above $ 10 billion, The New York Times reports. In an interview with the Times, Sanders said, "I don't think that billionaires should exist."



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Democrats to investigate Trump proposal to host G7 at resort he owns

Democrats to investigate Trump proposal to host G7 at resort he ownsU.S. House Democrats plan to investigate President Donald Trump’s proposal to host the next Group of Seven summit at a Florida golf resort he owns, saying the move would violate constitutional prohibitions against officials profiting from government business. At the G7 meeting of major industrial nations in Biarritz, France on Monday, Trump said his administration was studying the possibility of hosting next year’s summit at the Trump National Doral golf resort near Miami but insisted he would not personally profit from the resort’s selection. Trump said a final decision had not been made.



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500,000 kids could lose free school lunch under Trump administration proposal

500,000 kids could lose free school lunch under Trump administration proposalMore than 500,000 kids could lose automatic eligibility for free school meals thanks to a proposed restriction by the Trump administration on the food stamps program, according to Democratic Rep. Bobby Scott.



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Hamas backs Egypt proposal for calm on Israel border: officials

Hamas backs Egypt proposal for calm on Israel border: officialsThe Gaza Strip’s Islamist rulers Hamas have backed an Egyptian proposal to foster calm on the Israel border ahead of major expected protests, two Hamas officials said Friday. There was no immediate comment from the Israeli side on the potential agreement. Tens of thousands of Palestinians are expected to gather Saturday for the first anniversary of the often violent protests along the border, which Hamas has strongly backed.



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Green New Deal: Senate defeats proposal as Democrats unite in protest

Green New Deal: Senate defeats proposal as Democrats unite in protestNon-binding proposal spearheaded by progressives aims to reduce greenhouse gases and lessen social inequity The US Senate defeated a motion to take up the Green New Deal, the non-binding proposal spearheaded by progressive Democratic lawmakers to radically reduce greenhouse gases and try to lessen social inequity. Republican leaders in the Senate had scheduled Tuesday’s vote in an effort to turn the proposal into a wedge issue in the 2020 elections, hoping to force Democrats on the record about their support – or opposition – for a proposal that is popular among the Democratic base but has been criticized by many conservatives. Democrats called the efforts by the Senate majority leader Mitch McConnell a “sham”, and 43 of them voted “present” rather than casting an up-or-down vote. Lawmakers ultimately voted 57-0 against the proposal. Three Democrats and independent senator Angus King of Maine ultimately joined all 53 Republicans in opposing the plan. The Green New Deal aims to virtually eliminate greenhouse gas emissions by 2030 and calls for the US to shift away from fossil fuels such as oil and coal. It also urges national healthcare coverage and job guarantees, high-quality education and affordable housing, as well as “upgrading all existing buildings in the United States” to be energy-efficient. The proposal has broad support among Democratic activists, and all six of the 2020 presidential contenders serving in the Senate have signed on as cosponsors, putting it at the forefront of the party’s sprawling primary race. Republicans say the plan would devastate the economy and lead to a huge tax increase. They call it more evidence of the creep of “socialism” in the Democratic party, along with “Medicare for All” and a sweeping elections reform package that would allow public financing of congressional campaigns. McConnell said the proposal “might sound like a neat idea in places like San Francisco or New York” but would result in communities across the country being “absolutely crushed”. He argued the deal would “kill off entire domestic industries” and eliminate millions of jobs. Donald Trump also weighed in against the plan, which the White House called “job crushing”. At a luncheon with Senate Republicans, Trump urged lawmakers to keep the Green New Deal alive as an issue to use against Democrats. Mike Lee, a Republican senator from Utah, called the Green New Deal “ridiculous” and displayed pictures of dinosaurs, cartoon characters and babies as he derided the plan. He said he was treating it “with the seriousness it deserves”. Democrats derided the GOP moves and said they carried their own political risk by mocking an issue – climate change – that a growing number of Americans care deeply about. Climate change, they said, is deadly serious, citing floods in the midwest, wildfires in the west and hurricanes in the south. “Climate change is not a joke,” said Ed Markey, a Democratic senator from Massachusetts and the resolution’s lead Senate author. “Mocking it is shameful.” “The GOP’s climate delaying is costing us lives [and is] destroying communities,” congresswoman Alexandria Ocasio-Cortez, the plan’s sponsor in the House, tweeted. The GOP’s climate delaying is costing us lives + destroying communities.Iowa, Nebraska & many in the Midwest are catastrophically flooded right now, in one of the 1st major climate change disasters of 2019.A #GreenNewDeal urges us to pursue a plan on the scale of the problem. t.co/dWXe44hxWX— Alexandria Ocasio-Cortez (@AOC) March 26, 2019 Ocasio-Cortez also said she had encouraged fellow Democrats to vote present, and questioned Republicans’ reluctance to schedule major hearings on the effects of climate change. Separately, speaking at a hearing of the House financial services committee on Tuesday, Ocasio-Cortez sharply criticized the suggestion that concerns about the environment were “elitist” and condemned past inaction. “You want to tell people that their concern and their desire for clean air and clean water is elitist? Tell that to the kids of the South Bronx, which are suffering from the highest rates of child asthma in the country,” she said. “This is about our lives, and this should not be partisan,” she added. “Science should not be partisan.” By Tuesday evening, the clip of her comments had been shared thousands of times. Watch every second of this… @AOC is so incredibly spot on. pic.twitter.com/ESP4dC5TTo— Brian Tyler Cohen (@briantylercohen) March 27, 2019 The New York senator Kirsten Gillibrand, one of a half-dozen senators seeking the Democratic nomination for president, said Republicans treat climate change “as a game” and said Democrats “will not fall for this stunt”. Slowing climate change “should be our nation’s moonshot” in the 21st century, Gillibrand argued. “We don’t know if we can get to net-zero carbon emissions in 10 years, but why not try?” she said at a rally before the Senate vote.



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Erdogan proposal to make Hagia Sophia a mosque irks Greece

Erdogan proposal to make Hagia Sophia a mosque irks GreeceANKARA, Turkey (AP) — The Greek government voiced opposition Monday to the suggestion from Turkish President Recep Tayyip Erdogan that Istanbul's Hagia Sophia — a Byzantine-era cathedral that now serves as a museum — could be reconverted into a mosque.



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Elizabeth Warren’s Tax Proposal Aims at Assets of Wealthiest Americans

Elizabeth Warren’s Tax Proposal Aims at Assets of Wealthiest AmericansWarren, a Massachusetts senator who recently established an exploratory committee for the 2020 Democratic nomination, said she would use the revenue to rebuild the middle class, potentially by using the money to pay for child care or relieve student debt. The proposal underscores Warren’s economic populist message at the heart of her campaign to challenge President Donald Trump in 2020. A former Harvard law professor, she has written extensively about the shrinking middle class and made enemies on Wall Street for pinning the blame for rising income inequality on the wealthy and large corporations.



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