OVERNIGHT FINANCE: Warren silent on Clinton; WH issues veto threat
TOMORROW STARTS TONIGHT: WARREN SILENT ON CLINTON CANDIDACY. My latest for The Hill: “Sen. Elizabeth Warren (D-Mass.) made no mention of Hillary Clinton’s newly-announced 2016 campaign during an economic speech on Monday, as she was greeted by a capacity-crowd that held ‘Run Warren Run’ signs. Warren urged labor groups and progressives to continue fighting against what she said was a Republican effort to deregulate the economy during her speech at the ‘Good Jobs Green Jobs’ forum.” http://bit.ly/1CBXgcU
{mosads}THIS IS OVERNIGHT FINANCE. Happy 2016-ing. Tweet: @kevcirilli; email: kcirilli@digital-stage.thehill.com; and subscribe: http://digital-stage.thehill.com/signup/48. It’s only Monday…
WHITE HOUSE VETO THREAT: From The Hill’s Peter Schroeder: “President Obama is threatening to veto a pair of GOP bills set to pass the House, arguing they would undercut portions of the Dodd-Frank financial reform law. The White House on Monday said that if presented with either of the two bills, Obama’s advisers would recommend that he veto them for weakening ‘key consumer protections.’
“The vows follow through on Obama’s promise during his most recent State of the Union address, when he said he would veto any measures sent to him by a GOP Congress that water down the landmark financial reform law.
“One of the measures, a bill aimed at the manufacturing housing industry from Rep. Stephen Fincher (R-Tenn.), would put some home buyers at risk for predatory lending, by allowing some lenders to offer costlier loans without having to consider the ability to repay them, the White House argued.
“The White House contends that the second bill, from Rep. Bill Huizenga (R-Mich.), would also clear the way for more homeowners to end up with mortgages they cannot afford by allowing lenders to add more points and fees to mortgages.” http://bit.ly/1NzglqO
QUOTABLE, Sen. John Thune (R-S.D.) talks taxes. Peter Schroeder has more: “[Thune] is trying to build momentum for a repeal of the estate tax, calling the levy a ‘nightmare’ for grieving families. In an op-ed published by the Rapid City Journal, Thune blasted the tax he and other Republicans have billed a ‘death tax,’ saying it “violates the basic premise of the American dream.” http://bit.ly/1DWZTMp
TOP TALKER: RUBIO ENTERS RACE. Read Jonathan Easley today, folks: “Sen. Marco Rubio (R-Fla.) on Monday entered the race for the White House, telling donors on a conference call that he is ‘uniquely qualified’ to lead the Republican Party into battle against Hillary Clinton in 2016. ‘I feel uniquely qualified to not just make that argument, but to outline the policies that we need to have in order to achieve it,’ Rubio told the donors, according to The Associated Press. Portraying Clinton as a candidate of the past, Rubio, 43, talked about the opportunity awaiting the GOP as it seeks to recapture the White House after eight years out of power.” http://bit.ly/1CHH7l9
— My take from earlier today with Fox 5’s Steve Cheveney: http://bit.ly/1FCsb9T
MUMS THE WORD: BIDEN ON HILLARY. “Vice President Biden made no mention of Hillary Clinton’s presidential campaign on Monday, as he delivered a speech on the economy.The vice president spoke highly of organized labor, as he accepted an award as a ‘green jobs champion’ at the forum sponsored by the Sierra Club and United Steelworkers. ‘Labor built the middle class,’ said Biden, who thanked union groups for helping him in various campaigns.” http://bit.ly/1aXBsle
THE HILLARY FACTOR: OBAMA FOLLOWS WITH ECONOMIC PUSH: Jordan Fabian has more: “The White House this week will make a messaging push on two key Democratic economic issues, income inequality and equal pay for women, as Hillary Clinton ramps up her presidential campaign
“President Obama will travel to Charlotte, N.C. on Wednesday to meet with working women and plug his budget proposal, which would increase taxes on the wealthy while upping tax credits for middle-class and low-income families, White House communications director Jen Psaki wrote in an email outlining the president’s plans.
“In interviews on Monday with local television stations from Pennsylvania, South Dakota, Wisconsin, Ohio and Maine, Obama will talk about his tax plans and draw contrasts with Republicans. The president will continue his attacks on a GOP plan to repeal the estate tax, a proposal Psaki called a ‘giveaway’ for a few thousand of the country’s wealthiest households. Republicans have dubbed the estate tax a “death tax” that hurts small business owners.” http://bit.ly/1DWN2tN
TRADE WATCH: LABOR TAKES ON WHITE HOUSE. Lawmakers are expected to introduce a controversial trade bill this week backed by the White House but opposed by liberals. Vicki Needham reports: “The AFL-CIO is ramping up its efforts this week to convince Congress to oppose giving the White House fast-track authority on trade. The labor group is holding events across the country as part of a week of action on trade.” http://bit.ly/1O0fCJX
ON-TAP FOR THE WEEK: My exclusive preview for this week’s financial services wonks: Lawmakers return to Capitol Hill on Monday after a two-week recess with unfinished budget business. http://bit.ly/1IXADn4
FAST-FACTS – – MAJORITY OF WELFARE RECIPIENTS ARE EMPLOYED. Eric Morath for WSJ: “It’s poor-paying jobs, not unemployment, that strains the welfare system. That’s one key finding from a study by researchers at the University of California, Berkeley, that showed the majority of households receiving government assistance are headed by a working adult.
“The study found that 56% of federal and state dollars spent between 2009 and 2011 on welfare programs — including Medicaid, food stamps and the Earned Income Tax Credit — flowed to working families and individuals with jobs. In some industries, about half the workforce relies on welfare.” http://on.wsj.com/1IG468c
WANT JANET YELLEN TO BE YOUR BOSS? THE FED IS HIRING! Ben Leubsdorf for The Wall Street Journal: “Time to update that resume: The Federal Reserve is looking for a few new advisers. The U.S. central bank on Monday said it is taking ‘statements of interest’ from people who would like to serve on its new Community Advisory Council, which it announced in January.” http://on.wsj.com/1NypMqj
— FLASHBACK, via WSJ in January: “The Federal Reserve is forming a new advisory group comprised of consumer advocates and community representatives to ‘provide information, advice and recommendations’ to the Fed’s board on a wide range of issues.” http://on.wsj.com/1OsaIrj
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