The stopgap saga continues…
TOMORROW STARTS TONIGHT: EX-IM LIVES UNTIL JUNE? My latest for the hometown paper, with an assist from Rebecca Shabad: “Appropriations Chairman Hal Rogers (R-Ky.) told reporters on Tuesday that House lawmakers would reauthorize the Export-Import Bank through June 2015 when they pass a stopgap funding measure later this week.
{mosads}The GOP short-term budget, known as the ‘continuing resolution,’ would also keep the government open until Dec. 11, Rogers said.” http://bit.ly/1Bqzsd2.
Nobody wins?
— EXIM SENIOR OFFICIAL tells Overnight: “Very unhappy… We will try to work the Senate side for longer time or to go short and stick to December time-frame.”
Ex-Im officials wanted to tie the length of an extension to the continuing resolution, believing that they would have more leverage linking the two debates.
— HERITAGE ACTION’s Dan Holler: “Conservatives are understandably weary when Washington promises to fight another day, especially without an ironclad promise from leadership that this is the last reauthorization ever… Probably good news for K Street — they get more billable quarters.”
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Meanwhile…
WHITE HOUSE <3 BOEHNER. The White House was “heartened” at news that Ex-Im would be included in the CR, press secretary Josh Earnest told reporters today. Justin Sink recaps from 1600 Pennsylvania Ave. http://bit.ly/1COPDTc.
DAYS UNTIL EX-IM EXPIRES: 21.
CONTINUING RESOLUTION: The $1.012 trillion continuing resolution offered Tuesday evening would fund the government until December 11, 2014.
House Appropriations Committee Chairman Hal Rogers (R-Ky.) in a statement on the CR: “We have reached the point where a Continuing Resolution is necessary to keep the government functioning and avoid another shutdown. It is a critical piece of legislation, and my Committee has crafted the bill in a responsible, restrained way that should draw wide support in the House and Senate. This bill is free of controversial riders, maintains current levels, and does not seek to change existing federal policies.
“However, this is a temporary, imperfect measure that does not reflect the changing needs of the nation or new budget priorities. In order to adequately address the country’s real and urgent budgetary requirements, it is imperative that Congress fulfill its Constitutional duty and enact actual, line-by-line Appropriations legislation for the next fiscal year.”
THIS IS OVERNIGHT FINANCE, thank you for reading. How can I improve? Tweet: @kevcirilli; email: kcirilli@digital-stage.thehill.com; and subscribe: http://digital-stage.thehill.com/signup/48.
We’ll be on ‘Capital Insider’ tonight at 8 p.m. if you’re in D.C. viewing area.
Pick up the pace, it’s not even hump day…
BIG STORY: FOR YOUR RADAR — OBAMA PREPS FOR ISIS SPEECH. On Wednesday, President Obama will offer his strategy for countering the Islamic State in Iraq and Syria (ISIS). Justin Sink reports for the hometown paper: “President Obama told congressional leaders at a White House meeting on Monday he wouldn’t need their authorization to expand his military campaign against Islamic terrorists.” http://bit.ly/1rCR8uZ.
SPORTS BLINK: ROGER GOODELL SPEAKS OUT. The scandal-ridden NFL commissioner told “CBS Evening News” in an exclusive interview that he did not see the Ray Rice domestic abuse video, despite asking for it. Video: http://cbsn.ws/1BqsSDt.
—CONDI TO NFL? Judy Kurtz for the hometown paper: “Some are saying Condoleezza Rice — who expressed an interest in the NFL job before — should replace Goodell. A Tuesday editorial in The Washington Post wrote that the NFL is ‘an institution in dire need’ of Rice’s help, with a blaring headline: ‘Condi Rice: The one person who could save the NFL.’ http://bit.ly/1tIBFiQ.
CYBER-WATCH: HOME DEPOT BREACH WORSE THAN TARGET? Reuters’ Karen Freifeld reports: “Two senators asked the federal government to investigate a data breach on the payment-card processing systems of Home Depot Inc and five U.S. states launched a probe into the matter on Tuesday as fallout from last week’s attack intensified.
“The retailer has yet to say what was stolen, though experts fear the attackers may have gotten away with more than 40 million payment cards, which would exceed the number taken in last year’s unprecedented attack on Target Corp.
“U.S. senators Edward Markey of Massachusetts and Richard Blumenthal of Connecticut called on the Federal Trade Commission to investigate. ‘If Home Depot failed to adequately protect customer information, it denied customers the protection that they rightly expect when a business collects such information,’ the senators said in a statement. ‘Such conduct is potentially unfair and deceptive, and therefore could violate the FTC Act.’”http://reut.rs/1tIn9HT.
HAPPENING WEDNESDAY: The Merchant Financial Cybersecurity Partnership, led by the Financial Services Roundtable and the Retail Industry Leaders Association, which includes 19 merchant and financial trade associations, hosts “Cybersecurity: Protecting the Payments System.”
—THE GUEST-LIST: Michael Daniel, special assistant to the president and cyber-security coordinator; Rep. Mike Rogers (R-Mich.), chairman of the House Select Committee on Intelligence; Joe Demarest, assistant director of the FBI; senior vice presidents from Walmart, VISA, and MasterCard; FSR CEO Tim Pawlenty, also a former GOP presidential candidate. RSVP HERE.
—WHAT TO EXPECT: Lots of reaction about the recent Home Depot data breach and talk of Apple’s new mobile wallet.
TECH WATCH: APPLE UNVEILS MOBILE WALLET. Apple unveiled a new watch and better iPhones on Tuesday. But retailers cheered the arrival of Apple’s newly announced “Apple Pay” mobile payment service, which allows consumers to use their new iPhones as a wallet (a la the Starbucks app).
“Mobile technology has the potential to remake the payments ecosystem and create competition where there currently is none,” said Allie Bradenburger, spokeswoman for the Retail Industry Leaders Association (RILA). “We look forward to learning more about Apple’s new technology and how it provides value to retailers and their customers.”
— WHO’S ONBOARD: American Express, MasterCard, Visa, PNC, Citigroup and Bank of America. Whole Foods, Target, Macy’s, Subway, Panera and more.
— HOW IT PLAYED: Bloomberg: “Apple Mobile Payments May Add 50% to Stock Price, says analyst.” …Computerworld: “Apple’s mobile payment rolling out despite problems.” …Gizmodo: “Apple Pay Wants to Replace Your Wallet.” …Fortune: “Apple wallet to take aim at growing mobile payments market.” …TIME: “Why Only Apple Has What It Takes To Disrupt Our Wallets.”
NOT THE ONION: ELIZABETH WARREN, RICHARD SHELBY AGREE. The Senate Banking Committee brought in the big-wigs at today’s Wall St. reform hearing. Pete Schroeder for the hometown paper: “A bipartisan duo indicated Tuesday that there is broad interest in seeing the government punish individual bank executives, and not just their institutions, for criminal wrongdoing.”
“Sens. Elizabeth Warren (D-Mass.) and Richard Shelby (R-Ala.) both expressed concern that actions tied to the financial collapse have resulted in fines and settlements but not arrests, suggesting the Senate Banking Committee will be an aggressive force no matter which party controls it after November.” http://bit.ly/1wcNGho.
THE HILL’S PLAYERS TO WATCH –> Who made the list? Find out here: http://bit.ly/1p4nRaW.
DICK DURBIN’s FIGHT WITH BURGER KING: Ramsey Cox reports: “Sen. Dick Durbin (D-Ill.) said he has decided to stop eating at Burger King because they plan to move their headquarters to Canada in order to avoid U.S. taxes. Durbin said that while he was back in this home state during the August recess he purposely avoided eating lunch at Burger King and instead ate at Steak ‘n Shake.” http://bit.ly/1qeNNXw.
In all honesty, I am all about McDonald’s Chicken McNuggets…
CUNA’s BIG NEWS: Jim Nussle, a former George W. Bush administration official and Iowa congressman, has been named the new leader of the Credit Union National Association. Our Megan R. Wilson has more: http://bit.ly/WFE4fy.
AUTO INDUSTRY PUSHES FOR CURRENCY PROVISIONS, via Vicki Needham: “U.S. automakers expressed frustration on Tuesday that trade negotiators aren’t pushing harder to include currency rules in international trade agreements.
The American Automotive Policy Council (AAPC), which represents the big three auto companies, said they are “alarmed” that the latest round of Trans-Pacific Partnership (TPP) talks in Hanoi have ended without the subject being discussed.” http://bit.ly/YuLrZ3.
ON-TAP FOR TOMORROW: U.S. PREPS FOR NEW RUSSIA SANCTIONS. Rebecca Shabad has more: “The Obama administration is putting the finishing touches on a new round of sanctions against Russia for its role in the Ukraine crisis… The E.U. is scheduled to meet Wednesday to discuss the implementation of sanctions its leaders have already endorsed. Those proposals include restricting Russia’s access to capital markets, defense equipment and dual-use goods for military purposes.” http://bit.ly/1nJQvib.
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