After a bruising week for progressive Democrats that ruled out including a minimum wage hike in the $1.9 trillion COVID-19 relief bill, Congressional business on the legislation will continue next week. This is your Washington Week Ahead for the week of March 1.
Trump Speaks
Former President Donald Trump will speak at the Conservative Political Action Conference, commonly referred to as CPAC, in Orlando on Sunday. It will be his first major public appearance since leaving office and comes after a series of high-profile rebukes from Democrats, including an impeachment trial, while the Republican Party seems divided on how it moves forward. Plus, Sen. Mitch McConnell (R-Ky.) keeps flip-flopping in his support, pledging to support Trump if he runs for the White House again in 2024, just days after holding him responsible for the January 6 insurrection on the Capitol building. Trump has pledged a return of his Make America Great Again movement and CPAC will provide a friendly platform for that exact messaging, further highlighting the hold he still has on his party.
Stimulus Stalemate
The Senate will begin debate on the American Rescue Plan on March 1, marking the first time the chamber is officially taking up the latest round of coronavirus relief spending. The nearly $2 trillion rescue package includes $1,400 stimulus checks for Americans, billions in federal relief for state, local, and tribal governments, and a huge bucket of money for vaccine rollout. Because the Senate has a legislative filibuster, the bill must adhere to the Byrd Rule, a parliamentary procedure that allows budget reconciliation legislation to pass without being subject to the filibuster. One thing we know for sure is that the final Senate version of the bill, expected to pass next week, will not include a federal minimum wage increase after the parliamentarian determined it would be against the rules. The current federal minimum wage is $7.25 and has remained unchanged since 2009.
Voting Rights in the Spotlight
Now that the House of Representatives has finished with COVID relief, it’s on to other priorities. In the last Congress, House Democrats passed H.R. 1, the For the People Act, a sweeping election reform bill. It languished in a Republican-controlled Senate. This is a chance for the chamber to try again — but expect a lot of amendments from Republicans, looking to strike down provisions like universal vote-by-mail and extended early voting periods, as well as a national holiday for Election Day. At the same time, the United State Supreme Court will hear arguments on a pair of Voting Rights Act cases that could further erode protections for disadvantaged voters. So in the first week in March, 20 months before the 2022 midterm elections, all eyes in Washington will be on voting rights.
Markets opened lower this morning as investors rounded out a wild 2021. Jay Hatfield, CEO Infrastructure Capital Advisors, joined Cheddar's Opening Bell to discuss which sectors and industries to watch in the new year.
Markets opened higher as investors react to positive data on the labor front, with weekly jobless claims falling to 198,000 for the week ending December 25. Ross Mayfield, investment strategy analyst at Baird joined Cheddar's Opening Bell to discuss the market open.
U.S. officials spoke to Russian leaders for nearly eight hours earlier this week, in hopes of reducing tensions between Russia and Ukraine. Russia forced the west to the negotiating table by massing 100,000 troops near the Ukrainian border, sparking fears of an invasion, and then submitted a set of demands which the west rejected. Joel Rubin, former Deputy Assistant Secretary of State & President at Washington Strategy Group explains what the rest of the week might look like, and why other European nations may be on the side of the U.S.
Chicago schools opened their doors again following a dispute between the teachers union and the city over as the omicron variant continues to surge, but the safety issues they fought over weren't just limited to the Windy City. Dr. Bayo Curry-Winchell, family medicine and urgent care doctor, joined Cheddar in discussing concerns of parents, teachers, and students as schools try to operate amid COVID and noted what she's been observing as the number of infections among children rises. "I am seeing them contract the illness from so many different aspects," she said. "It could be from a fellow classmate. It could be from a parent. All of those things really play in the effect of transmission as well as contracting the illness."
Sen. John Hickenlooper (D-Colo.) is looking for clarification about a federal standard regarding THC impairment while driving. "I think in terms of marijuana, the fact that it's still a Schedule 1 narcotic — it's treated the same as heroin and cocaine — it means that we can't get standards developed," he said about the lack of cohesive regulations. The lawmaker also explained his previous opposition to cannabis legalization in Colorado when he was governor and why his position changed.
With Martin Luther King Jr. Day fast approaching, Rep. James Clyburn (D-S.C. 6th District), the House Majority Whip, talked about the importance of honoring the iconic civil rights activist. "As we consider the life and celebrate the legacy of Martin Luther King Jr., let's think about who and what we are as a country, and whether or not we're going to give up on the ideals of this country or continue to press forward," he said. Clyburn also discussed the push for new voting legislation, the For the People Act and the John Lewis Act, as well as the fate of the Senate filibuster.
One year after the attack on Capitol Hill, America is still deeply divided and politically broken. Zoe Tillman, senior reporter for BuzzFeed News, breaks down President Biden's remarks on January 6, and why the country disagrees on its views over the violent insurrection.
While the pandemic caused financial troubles for many, the unique circumstances of the last two years proved helpful to many Americans. Whether it was the federal government's stimulus checks, expanded unemployment insurance, or general lockdowns, recent data reveals that the covid-19 pandemic helped many reach financial security. Neale Godfrey, Financial Expert and New York Times #1 Best Selling Author joined Cheddar's Opening Bell to discuss.
U.S. markets opened higher despite red-hot inflation data which showed the highest surge in nearly 40 years. Jon Maier, CIO, GlobalX ETFs joined Cheddar's Opening Bell to discuss this historic report.
Meta's request to have a Federal Trade Commission antitrust lawsuit dismissed was rejected by a federal judge. Prosecutors presented enough evidence in their latest filing to go forward with the case accusing the tech giant of operating a social networking monopoly through Facebook, Instagram, and WhatsApp.
