TOMORROW STARTS TONIGHT: RYAN PRESSES SENATE TO PASS HIGHWAY BILL WITHOUT EX-IM. Keith Laing: “House Ways and Means Committee Chairman Rep. Paul Ryan (R-Wis.) is calling for the Senate to pass a transportation funding extension ‘without any unrelated measures’ after the House voted on Wednesday to approve an $8 billion patch.
“Lawmakers are facing a July 31 deadline for the expiration of the current transportation funding measure, and senators have toyed with the idea of including an extension of the Export-Import Bank’s charter in their version of the new highway bill. The House voted Wednesday to approve its proposed patch, which lasts until December, in part to preempt the Senate from attaching the Ex-Im to the road funding measure.” http://bit.ly/1Ln9jly
{mosads}MCCARTHY WANTS SENATE TO BACK OFF, AS WELL: From Keith: “House Majority Leader Kevin McCarthy (R-Calif.) warned the Senate on Thursday to pass a clean transportation funding extension as senators weigh adding the controversial Export-Import bank to the infrastructure legislation. … ‘I am one who has always believed in the principle that you should just deal with the subject that’s before you,’ he said during a debate on the House floor. ‘We have passed the highway bill,’ McCarthy continued. ‘The best advice I can give to the Senate … [is] to pass a clean highway bill and move it to the president.”
THIS IS OVERNIGHT FINANCE, and we spent the day in the Big Apple. My Philadelphia bias was on full display. Tweet: @kevcirilli; email: kcirilli@digital-staging.thehill.com; and subscribe: http://digital-staging.thehill.com/signup/48
HENSARLING: DODD-FRANK MUST BE REFORMED. Pete Schroeder: “House Financial Services Committee Chairman Jeb Hensarling (R-Texas) is convinced the Dodd-Frank financial reform law is a failure. And he’s confident the five years since its passage has yielded evidence to back up that assertion.
“But what he lacks is a clear path forward for advancing legislation to fundamentally alter the sweeping Wall Street overhaul. The House has passed a host of bills tweaking the law in the last two Congresses, but similar efforts have stalled in the Senate as the White House has routinely threatened to veto effectively all efforts to revisit the measure.
“As the landmark law approaches its five-year anniversary later this month, Hensarling has embarked on a series of hearings he hopes will make the case the law is a threat to the economy and needs to be revisited. He also plans to continue pushing bills replacing sections of Dodd-Frank with GOP alternatives this year, with an eye toward a comprehensive overhaul sometime in 2016.” http://bit.ly/1HB2Fn3
SILENCE GOLDEN FOR RYAN ON TAX PLAN, via Bernie Becker: “For the small-business lobby, the idea of revamping America’s international tax structure isn’t even worth a comment yet. But make no mistake: That’s a victory for House Ways and Means Committee Chairman Paul Ryan (R-Wis.), Sen. Charles Schumer (D-N.Y.) and those who want to chase an international deal that would help fund a long-term highway bill.
“Ryan has hinted that it would be difficult to rebuild the tax code over the opposition of groups such as the National Federation of Independent Business (NFIB), which stridently criticized bipartisan talks about business tax reform this year, saying they were favoring corporate America over Main Street.” http://bit.ly/1JjVLmz
THIRD WAY GETTING FRANK ON DODD-FRANK. Third Way will host an event with former Rep. Barney Frank (D-Mass.) next Tuesday, July 21st from 9:00 AM to 10:00 AM in the Columbus Club Room at Union Station to commemorate Dodd-Frank’s five-year anniversary. The event will include a moderated conversation between Frank and Bloomberg View’s Al Hunt on whether the most ambitious financial reform law since the Great Depression is getting the recognition it deserves. More info: http://bit.ly/1CuuIYn
BROWN, PORTMAN PUSH CURRENCY ADMINISTRATION FIX, via Vicki Needham: “A bipartisan group of senators on Thursday urged the Obama administration to crack down on global currency manipulation they argue hurts U.S. exporters. Led by Ohio Sens. Sherrod Brown (D) and Rob Portman (R), eight Senate Finance Committee members wrote a letter to U.S. Trade Representative Michael Froman and Treasury Secretary Jacob Lew, calling on them to push for stronger enforcement provisions in ongoing negotiations of a massive Asia-Pacific trade deal.” http://bit.ly/1HxsPcH
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