21 May
2018
An Investigation of the Investigation, Plus a Trade War Cease-Fire
- Good morning! The big news today is that the Justice Department asked its Inspector General to probe whether the FBI investigation into ties between the Trump campaign and Russia was politically motivated. That followed by a few hours a tweetstorm from President Trump in which he vowed to demand that the Justice Department take such a step. Also, Rudy Giuliani said Robert Mueller has signaled that he intends to end his obstruction inquiry by Sept. 1. The investigation of the investigation, however, might go one much longer…
- Hold your fire! The trade war has been put on hold – for a while at least. Treasury Secretary Steven Mnuchin said yesterday that the Trump Administration won’t implement trade sanctions on China after that nation agreed to increase its purchases of American products, including farm goods and energy. In order to avoid threatened tariffs on Chinese goods imported to the U.S., China also agreed to lower its tariffs on American goods and to protect U.S. technology. But U.S. Trade Representative Robert Lighthizer said that tariffs remain an important weapon in the U.S. arsenal.
- Just how much energy China is likely to buy from the United States is certain to be a question on Tuesday when a panel of the House Foreign Affairs Committee convenes for a hearing on “The Geopolitics of U.S. Oil and Gas Competitiveness.” And on Wednesday morning, the Heritage Foundation will host a roundtable, “Examining Trade,” featuring Commerce Secretary Wilbur Ross.
- Here’s reason to weep: More people have been killed at schools this year than have been killed while serving in the military. It remains to be seen whether President Trump or Congress will use the latest school shooting as impetus to do, as Trump claimed, “everything in our power” to keep guns away from those who should not have them.
- The fact that the Farm Bill fell victim last week to disputes over immigration only reinforces the inability of Congress to do anything more to advance legislation this term. The Freedom Caucus blamed GOP leaders for failing to pass a Dreamers bill sooner. Mainstream Republicans blamed the caucus for losing on a Trump priority – one that contained new work requirements for welfare recipients, which conservatives have sought for years. Speaker Ryan plans to bring a few immigration measures to votes in June, but it’s doubtful whether the Republicans have the juice to pass a bill.
- Newly installed Secretary of State Mike Pompeo will have a busy week. Monday morning, he will outline the administration’s “comprehensive plan” for containing Iran in a speech at the Heritage Foundation. Then it’s to Capitol Hill, where on Wednesday he will testify to the House Foreign Affairs Committee about his budget, operations and policy priorities, while on Thursday the Senate Foreign Relations Committee will hear from the secretary on the department’s budget and other matters.
- Two other cabinet secretaries will be on the Hill on Tuesday for a grilling by their oversight committees. Education Secretary Betsy DeVos will appear before the House Committee on Education and the Workforce for an examination of her policies and priorities, while Treasury Secretary Steven Mnuchin sees the Senate Appropriations Committee for a review of his department’s 2019 budget.
- Senate Banking will have its hands full this week beginning Wednesday when it convenes a hearing on “Ten Years of Conservatorship: The Status of the Housing Finance System,” featuring testimony from Mel Watts, director of the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac. Then on Thursday, Senate Banking confronts an even bigger issue: “Cybersecurity: Risks to the Financial Service Industry and Its Preparedness.”
- “A Better Deal for our Democracy” is the theme of an announcement on Monday by House Minority Leader Nancy Pelosi and Senate Minority Leader Chuck Schumer. How this will differ from their July 2017 announcement of “A Better Deal” is unclear. That plan vanished after a short initial period of trumpet blaring and hand waving – in no small part, it seems, because the Democratic base hated it.
- Voters go the polls again this week for congressional primaries in Arkansas, Georgia and Kentucky and to cast ballots in a congressional runoff election in Texas. The Texas contest pits both Republic and Democrats against each other in 17 runoffs for the nomination to the U.S. House of Representatives and another 15 for the Texas legislature.