LABOR, ECONOMY & THE CLIMATE - page 27

Lobbyists and financial services executives are heaping pressure on Hillary Clinton, urging her not to pick a progressive running mate. Corporate-funded advocacy groups told The Hill in an article published Tuesday that Labor Secretary Tom Perez would be unpalatable to the managerial and executive classes. The outreach came a day after Politico ran a story featuring numerous Wall Street donors anonymously criticizing the idea of Sen. Elizabeth Warren (D-Mass.) as Vice President. “If she picks someone hostile to small businesses, that sends an alarming message to the business community,”… Keep Reading

Well-heeled business interests lined up this week to ask a federal appeals court in Washington to throw out new workplace regulations with far-reaching implications. Lawyers for the US Chamber of Commerce, the National Association of Manufacturers, and Microsoft were among groups that filed amicus briefs, asking the court to declare the “joint employer” rule illegal. The National Labor Relations Board redefined “joint employer” in August 2015, in a 3-2 vote. “Direct and immediate control” over working conditions should be what defines the term, the board… Keep Reading

Republicans on Capitol Hill are going to great lengths to block the mere consideration of a proposal that would protect gay, lesbian, and transgender Americans from discrimination in the workplace and marketplace. On Tuesday night, the House Rules Committee decreed that an anti-LGBT discrimination amendment to an annual defense spending bill would not receive a vote on the floor. The amendment would prohibit federal contractors from discriminating against citizens based on sexual orientation or gender identity. Last week, the committee blocked consideration of a similar measure… Keep Reading

Sen. Jeff Merkley (D-Ore.) hit out at the Securities and Exchange Commission for dawdling on a conflict of interest rule it was ordered to implement by the Dodd-Frank Act. Merkley pressed SEC Chair Mary Jo White on Tuesday, asking about the state of the regulation before a Senate Bakning Committee oversight hearing. “Here we are six years later,” he said, referring to the timing of Dodd-Frank’s passage. “We don’t even have a draft rule.” White replied, calling the proposal “enormously important,” but said the matter was… Keep Reading

The Department of Education proposed a new set of rules aimed at easing the debt relief application process for students bilked by for-profit colleges. The initiative, revealed this week, would bar corporate schools from making prospective students relinquish their rights to sue—whether individually or in class action lawsuits. It would also grant the department more authority to discharge a group of students’ loan obligations, when it is determined they have been deceived by school administrators. The rules, if finalized, would also force for-profit schools to… Keep Reading

The Supreme Court said on Monday that Puerto Rico lacks the authority to restructure its municipal debt. Justices ruled 5-2 that a law passed in 2014 by the territory is preempted by the federal bankruptcy code. The legislation had sought to modify debt held by the island’s municipal utilities—believed to be worth about $20 billion. As Clarence Thomas noted in the majority opinion, Congress in 1984 specifically excluded Puerto Rico from the federal bankruptcy code. The court said parts of the Puerto Rican law being… Keep Reading

The Obama administration is asking a federal judge to throw out a challenge brought by ten states against a new labor regulation that will force union busters out of the shadows. Finalized in April by the Department of Labor, the “Persuader Rule” is under assault in federal court, where several Republican-led states, are seeking an injunction against it. According to a brief filed last week, the department argued that the state interveners claims should be rejected, and the regulation preserved. “The public interest would be undermined if… Keep Reading

Democrats on the Senate Finance Committee on Wednesday voted against the White House’s move to reappoint two Social Security Trustees. Lawmakers cited three decades of precedent and one nominee’s ties to think-tanks and his views on downsizing crucial welfare benefits. Republicans approved of the nominations—one from each party—in two separate votes, split 14-12 strictly along partisan lines. “As has been the case, I’m supporting the President on both these nominees,” a bemused committee chair, Orrin Hatch (R-Utah), noted at the conclusion of the meeting. “These… Keep Reading

The biggest prize of the Democratic primary contest was awarded on Tuesday, with former Secretary of State Hillary Clinton claiming victory in California and the majority of pledged delegates in all 50 states. With 94 percent of the votes counted in the Golden State, Clinton was leading Sen. Bernie Sanders (I-Vt.) 56-43 percent. Combined with her victories in New Jersey, New Mexico, and South Dakota on the night, Clinton’s pledged delegate count ballooned to 2,168. She’s still shy of the 2,383 delegates, both pledged and superdelegates… Keep Reading

The highest ranking Congressman overseeing banking regulation met with Donald Trump in New York on Tuesday, after unveiling a plan to repeal much of Dodd-Frank. House Financial Services Committee Chair Jeb Hensarling (R-Texas) declined to go into the gritty details when asked about the meeting on Fox Business Channel. He said Trump “well-received the message” and is “interested in the policy.” “I’m not going to go into the blow-by-blow,” he said. Hensarling, who endorsed Sen. Ted Cruz (R-Texas) in the primary and is backing Trump… Keep Reading

Fed Chair Janet Yellen laughed in response to a question about the possibility of a Donald Trump victory in November causing “an economic crash all over the world.” “I’m sorry, I’ve got nothing for you,” she said, while chuckling. “We’re very focused on doing our jobs, and we’ll see what happens.” Yellen was responding Monday morning to an audience member’s question after addressing the World Affairs Council in Philadelphia. The speech came as the national spotlight is on the Fed, with the central bank looking likely to… Keep Reading