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LABOR, ECONOMY & THE CLIMATE - page 4

Schumer Agrees to Give up Shutdown Fights for Two Years, in Deal that Would Deprive Senate Dems of Power

Senate Democrats look poised to relinquish significant leverage–the threat of withholding government funding–well into the next Congress. Leaders from the Senate Majority and Minority said Wednesday that they agreed to a budget deal that would roll back short-term funding norms spearheaded by Congressional Republicans during the Obama administration. The agreement would eliminate so-called sequestration caps created by the Budget Control Act of 2011. The spending limits were agreed to by Congress after Tea Party Republicans threatened to shutdown the government. The compromise would hike spending… Keep Reading

With Washington Closely Eyeing Stock Prices, SEC Chair Bemoans Staff Shortages

In a Congressional hearing about the emerging cryptocurrency market, the chair of the Securities and Exchange Commission said he is most concerned about a conventional problem. Jay Clayton told the Senate Banking Committee on Tuesday that the SEC is currently understaffed, lacking the examiners needed to keep tabs on all kinds of markets–both newer and traditional ones. “Personnel is my biggest challenge at the moment,” he said, when questioned by the committee’s vice chair, Sherrod Brown (D-Ohio). “I could use more people in enforcement. I… Keep Reading

Yellen’s Last Hurrah: Friday penalties send Wells Fargo stock on Monday morning Nosedive

Wells Fargo stock shed more than 8 percent of its value as investors responded to sanctions imposed by Janet Yellen, in her last act as Chair of the Federal Reserve. The Fed Board of Governors penalized the bank at 6 pm on Friday evening, as Yellen was on her way out the door. On Monday morning at the opening bell, Wells stock dropped to $58.71 per share, after ending last week at $64.07 per share. Fed governors issued the order because of widespread abuses revealed… Keep Reading

Bundy Reigns: Feds Still Ignoring Illegal Grazing

The US Bureau of Land Management (BLM) is shirking promises it made to crackdown on the misuse of public lands. Released documents show that the agency has completely shelved planned regulations to root out ranchers engaged in illegal cattle grazing on BLM lands. The internal records show that throughout 2017, the agency’s timeline for implementing the new rules on cattle grazing slipped from “ongoing” to “on hold.” The regulations are now missing entirely from BLM’s 2018 regulatory agenda. The Government Accountability Office previously found that BLM… Keep Reading

FTC Prodded to Investigate Fake Twitter Follower Farms

Leaders of a Senate Commerce Subcommittee are asking federal regulators to probe the market for fake Twitter followers in the wake of a New York Times report. Sens. Jerry Moran (R-Kan.) and Richard Blumenthal (D-Conn.) wrote the Federal Trade Commission earlier this week, lobbying Acting Chair Maureen Ohlhausen to investigate Devumi, a US company that “allegedly uses bots to create fake social media accounts.” “This company seems engaged in unfair or deceptive practices, and we urge you to use all the tools at your disposal… Keep Reading

DC Circuit Reverses Decision Stripping CFPB of Autonomy

The second highest court in the country overturned a ruling that would have deprived the Consumer Financial Protection Bureau of independence. The DC Circuit Court of Appeals on Wednesday reversed a decision stating that the CFPB Director could be fired at-will by the President. “Congress validly decided that the CFPB needed a measure of independence and chose a constitutionally acceptable means to protect it,” Judge Cornelia Pillard wrote for a 6-3 majority. One Republican appointee joined all five Democrats presiding over the case to uphold the agency… Keep Reading

Pruitt Ignoring Congressional Concerns About Politicization at EPA

The Environmental Protection Agency’s Administrator has been shirking congressional inquiries about politicization within his agency, it was revealed during a hearing Tuesday. Scott Pruitt faced a grilling from Democratic Senators on the Environment and Public Works Committee. He was peppered with questions about his environmental record, his responsiveness to Congress, and prior comments about the President. Pruitt claimed ignorance when asked about a New York Times report last month revealing a no-bid contract awarded to a Republican-supporting firm to monitor EPA employees and their attitudes… Keep Reading

DHS Chief Implements Environmental Lawlessness at Border Wall Site

The Department of Homeland Security will ignore dozens of environmental regulations as it adds to existing walls on the US-Mexico border. According to a decree published in the Federal Register on Monday, DHS Secretary Kirstjen Nielsen said wall upgrades in DHS’s El Paso sector wouldn’t have to comply with construction rules under the Clean Water Act, the Endangered Species Act, the Nation Environmental Policy Act, and roughly two dozen other environmental laws. Nielsen cited an Executive Order signed by President Trump last January, which directed her… Keep Reading

Supreme Court Could Kill Gopher Frog

The highest court in the US on Monday announced it would take up a case that pits the well-being of an endangered amphibian against the interests of private developers. Louisiana landowners are asking the Supreme Court to overturn a decision by the US Fish and Wildlife Service that classified 1,500 acres of land as a critical habitat for the dusky gopher frog. The designated tract cuts right through property owned by timber company Weyerhaeuser, which had intended to use the land for residential and commercial development projects.… Keep Reading

Government Set to Reopen for Two Weeks, Schumer Accepts McConnell Promise of Dreamer Bill By Feb. 8

The Senate moved overwhelmingly on early Monday afternoon toward ending a brief government shutdown. Minority Leader Chuck Schumer (D-N.Y.) said he supported reopening the government, citing a promise by Republican leaders to bring up proposals on granting status to Dreamers. Senators voted 81-18 to limit debate on a continuing resolution that would fund federal agencies for two weeks. The supermajority approval means that the proposal can’t be filibustered. Late Friday, a similar vote failed to advance right before parts of the government ran out of… Keep Reading

Don’t Give the CFPB a Single Dime, Mulvaney Asks Fed, Amid Trojan Horse Assault on Agency

Watchdogs’ worst fears about Mick Mulvaney undermining the Consumer Financial Protection Bureau are proving well-founded. The interim CFPB director and top White House aide has asked for no additional money from the Federal Reserve for the next fiscal quarter, according to a Tuesday letter obtained by the conservative Washington Examiner. Since the CFPB opened its doors earlier this decade, it has received on average roughly $500 million per year from the Fed, which oversees agency finances. The funds have been used to win about $2… Keep Reading

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