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Andy Duehren Profile
Andy Duehren

@aduehren

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covering the Treasury Department and economic policy @WSJ . Email me at andrew.duehren @wsj .com

Washington, DC
Joined May 2013
Don't wanna be here? Send us removal request.
@aduehren
Andy Duehren
2 years
Manchin to reporters just now: “What Build Back Better bill?” “It’s dead.”
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@aduehren
Andy Duehren
3 years
In Austin, the downtown area and many of the city’s wealthier neighborhoods on the west side never lost power, while the eastern neighborhoods that are home to more lower-income residents and communities of color have been without power for several days.
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@aduehren
Andy Duehren
5 years
NEW w/ @glubold : The White House gave a politically appointed official the authority to keep aid to Ukraine on hold after career budget staff members questioned the legality of delaying the funds:
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@aduehren
Andy Duehren
2 years
"We may have to rename it," Pelosi says of BBB
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@aduehren
Andy Duehren
5 years
Romney on the video the president tweeted last night: “I forgot I had lost, so I appreciate the reminder.”
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@aduehren
Andy Duehren
2 years
Canadian deputy prime minister Chrystia Freeland told the Russian staffers at the G20 meeting in person that they are complicit in war crimes, per a person. She said they should convince Putin to end the war or resign. Confirming @AndyBlatchford
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@aduehren
Andy Duehren
2 years
Schumer says Democrats have 50-votes for reconciliation after changes with Sinema: "I am pleased to report that we have reached an agreement on the Inflation Reduction Act that I believe will receive the support of the entire Senate Democratic conference."
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@aduehren
Andy Duehren
2 years
Some news: Dems have begun meeting with the parliamentarian again on a possible reconciliation bill, according to sources. Meetings w/parliamentarian are precursor to trying to pass a bill. Comes as Manchin and Schumer met this week, as well as Biden + Schumer + Pelosi
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@aduehren
Andy Duehren
1 year
Yellen said today that there would be no "bailout" for SVB--but also that regulators want to ensure "depositors don't have to worry about about losing access to their money." Seems like we could be in for a fun semantic debate over the meaning of "bailout"
@mattyglesias
Matthew Yglesias
1 year
Expanding deposit insurance is a totally reasonable idea (large regional banks like SVB have historically been opposed because it would mean higher fees) but *retroactively* insuring uninsured deposits is definitely a bailout.
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@aduehren
Andy Duehren
3 years
NEWS: Sinema’s opposition to any increases in the corporate, income, or cap gains rates is pushing Senate Dems to prepare to abandon those rate hikes. Sinema has signaled opposition for a while but settling in among Dems they may actually be out.
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@aduehren
Andy Duehren
3 years
Leaving the meeting with Biden, Rep. Levin says the President asked House Dems to pass the infrastructure bill today.
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@aduehren
Andy Duehren
2 years
In 2019, after a gunman shot and killed 23 people in a Walmart in El Paso, I wrote a guide to the leading gun control proposals and the impact they could have on mass shootings:
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@aduehren
Andy Duehren
2 years
Manchin wants Sinema to reconsider her opposition to tax rate hikes: “I respect her and what her concerns may be, but I think basically our financial situation is getting worse, not better, so maybe we can take another look at it." w/ @RichardRubinDC
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@aduehren
Andy Duehren
2 years
Figuring out whether Sinema will vote for the reconciliation deal could be a mystery that hangs over Dems for days, if not weeks. Other Democrats sometimes only learn her views on policy questions from lobbyists she talks to.
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@aduehren
Andy Duehren
5 years
Bob Corker on shutdown negotiations: “Let’s face it, it’s a pretty juvenile place we find ourselves in right now. Tyranny of the talk radio show hosts.”
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@aduehren
Andy Duehren
2 years
White House chief of staff endorsing a New Dems proposal to totally restructure BBB. New Dems statement lists child tax credit, ACA subsidies, and climate as what should be the focus of new bill.
@WHCOS
Jeff Zients
2 years
We appreciate all that @RepDelBene and the House New Dem Coalition has done to move forward on Build Back Better and the President's agenda!
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@aduehren
Andy Duehren
1 year
New: Janet Yellen tells me the Fed would not likely accept a $1 trillion coin if the Treasury minted one “It truly is not by any means to be taken as a given that the Fed would do it, and I think especially with something that’s a gimmick.”
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@aduehren
Andy Duehren
2 years
As is Sinema
@aduehren
Andy Duehren
2 years
Manchin a yes on the motion to proceed
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@aduehren
Andy Duehren
2 years
New Sinema statement on reconciliation bill:
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@aduehren
Andy Duehren
3 years
News: two people familiar saying that paid leave is OUT of the bill
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@aduehren
Andy Duehren
2 years
remember when the CBO score happened
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@aduehren
Andy Duehren
1 year
Treasury Secretary Janet Yellen tours a Zambian instant noodle factory in Lusaka
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@aduehren
Andy Duehren
5 years
👀 Sen. Leahy, top Democrat on Senate approps, says the budget caps/debt ceiling deal is “not in a position where I can support it.”
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@aduehren
Andy Duehren
2 years
Janet Yellen has been invited to join a prestigious stamp collecting society and repeatedly received stamps as gifts during diplomatic meetings. The problem? "Stamps really don’t mean anything to Janet at all." My a-hed:
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@aduehren
Andy Duehren
2 years
Admin source on WH involvement in recon deal: -Ricchetti spoke with Manchin after July blow-up with Schumer -Manchin called Deese and Ricchetti on July 18 to say he wants to talk again. Deese met with Manchin and Schumer staff that day as talks revived
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@aduehren
Andy Duehren
2 years
Manchin and Sinema seated together on the Republican side of the aisle on the Senate floor chatting. Presumably discussing the fate of the Democratic agenda.
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@aduehren
Andy Duehren
1 month
Yellen enjoys a cold one in Beijing
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@aduehren
Andy Duehren
2 years
New from me and @RichardRubinDC : Schumer recently told Dems that he and Manchin are making progress in their quiet reconciliation talks. Some outside analysts and Dems now see $1t in revenue and $500b in climate + ACA spending as a possible deal.
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@aduehren
Andy Duehren
3 years
Group of 11 Dem Senators, including Sanders, puts out statement calling on House to wait on passing infrastructure: "The House of Representatives should wait to pass the bipartisan infrastructure bill until the budget reconciliation bill... is sent to the President’s desk."
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@aduehren
Andy Duehren
2 years
Gottheimer says in statement he will support recon deal even though it lacks SALT change. "If someone tries to change the tax rates on families in my District, I will insist that we restore the State and Local Tax Deduction. This legislation doesn’t" so he will support it.
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@aduehren
Andy Duehren
1 year
Yellen says Treasury is not considering or working on a unilateral expansion of deposit insurance
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@aduehren
Andy Duehren
2 years
Sen. Whitehouse says Dems have asked the parliamentarian to look at a carbon tax as part of BBB. Senate Finance Dems just met and folks are still at least discussing some of their favored revenue options, even if they were not part of House bill.
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@aduehren
Andy Duehren
5 years
Federal employees who have been furloughed or are working without pay are taking out new loans and deferring payments to make ends meet during the government shutdown. My latest:
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@aduehren
Andy Duehren
2 years
Schumer spokesman on this tweet: “Sen. McConnell is holding American jobs in key US industries hostage to help China and protect his friends in big pharma allowing them to keep screwing over Americans with outrageously high Rx drug prices.”
@LeaderMcConnell
Leader McConnell
2 years
Let me be perfectly clear: there will be no bipartisan USICA as long as Democrats are pursuing a partisan reconciliation bill.
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@aduehren
Andy Duehren
2 years
Worth noting that when/if paid leave (~$200b) and/or immigration ($100+b) fall out of the bill in the Senate, BBB's deficit figure will evaporate--whether you use CBO estimate for IRS, WH estimate for it, or don't count IRS revenue at all under CBO rules.
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@aduehren
Andy Duehren
2 years
NEWS w/ @MHackman : the parliamentarian has ruled against Democrats' latest immigration proposal for BBB
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@aduehren
Andy Duehren
2 years
A quote from Khanna that didn't make it into this story: "Call it the Manchin bill. It will help with independents."
@burgessev
Burgess Everett
2 years
Build Back better --> Making America Notably Competitive However Is Necessary (MANCHIN Act)
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@aduehren
Andy Duehren
2 years
House Dems—hedging their bets on Joe Manchin and the parliamentarian—passed a bill today capping insulin costs at $35/month. 12 Rs joined them as they broke off a chunk of BBB.
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@aduehren
Andy Duehren
3 years
News: House Dems have yet another SALT plan. Would raise the cap to $80k for nine years, per people familiar, rather than $72.5k for ten years.
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@aduehren
Andy Duehren
2 years
Blue Dogs endorse reconciliation bill: "We remain laser-focused on solving our nation’s major economic, energy, and climate problems for future generations, and will move swiftly to send this bill to the President’s desk.”
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@aduehren
Andy Duehren
2 years
Schumer says he met with Manchin this morning on reconciliation. “Talks are continuing,” he said.
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@aduehren
Andy Duehren
4 years
Before Mark Sandy, a top career official at OMB, signed off on holding military aid to Ukraine in July, he sought an opinion from OMB lawyers about the legality of the move. New detail in my preview of Sandy’s testimony on the Hill today:
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@aduehren
Andy Duehren
1 year
Janet Yellen behind the wheel of an orange pickup truck at a Ford factory in Silverton, South Africa
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@aduehren
Andy Duehren
3 years
CBC members leave meeting with Pelosi saying there will be a vote on the infrastructure bill today followed by a vote on the rule for build back better—with passage on build back better coming later
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@aduehren
Andy Duehren
2 years
The Vice President is arriving to the Senate
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@aduehren
Andy Duehren
3 years
Between Manchin's opposition to this and then other Dems' concerns about billionaires' tax, corp minimum and tobacco tax (on top of dropping rate increases)--the revenue hole for Dems seems to be getting deeper and deeper
@elwasson
Erik Wasson
3 years
BANK REPORTING : @Sen_JoeManchin clarifies to me he opposed bank reporting no matter what the threshold. “No one should be in anyones bank account “
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@aduehren
Andy Duehren
2 years
Here’s something: Manchin and Schumer met yesterday afternoon to discuss reconciliation, according to a person familiar with the meeting, and talks are continuing
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@aduehren
Andy Duehren
1 year
NEW: Treasury officials are quietly laying the groundwork to start potentially delaying payments after June 1. They're briefing other federal agencies on the contingency plan for a debt limit breach.
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@aduehren
Andy Duehren
2 years
Stock buyback tax is 1%
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@aduehren
Andy Duehren
2 years
Graham on his conversation with Manchin this morning on the CBO core: "He was stunned, I think he felt vindicated in that his concerns were legitimate"
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@aduehren
Andy Duehren
2 years
Another element of the reconciliation bill: -IRS has nine months to produce a report on the creation of a free e-file system
Tweet media one
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@aduehren
Andy Duehren
3 years
New w/ @RichardRubinDC : A Van Hollen plan would tax appreciated assets at death, with a $1m exclusion per individual. Booker Sanders, Warren, and Whitehouse are on board. A sign that the landing place for Dems on cap gains will include a sizable exemption:
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@aduehren
Andy Duehren
2 years
More Menendez: “Anybody can be Joe Manchin. I can be Joe Manchin right now.”
@aduehren
Andy Duehren
2 years
Will Menendez vote no because there’s no SALT in the Manchin deal? “I don’t make decisions like that, gentlemen, ladies. I look at the totality of it.”
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@aduehren
Andy Duehren
3 years
I just asked Tester about carryover basis and he said “I think all that shit’s off the table myself, but I don’t know.”
@aduehren
Andy Duehren
3 years
My latest: With Biden's plan to tax unrealized gains at death on political life support, Dems are now looking at alternative options, like the carryover basis. Carryover basis seen as a middle ground between the status quo and WH proposal.
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@aduehren
Andy Duehren
2 years
Janet Yellen studying rocks
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@aduehren
Andy Duehren
2 years
The Manchin-Schumer deal includes $124 billion in revenue from enhanced IRS enforcement. That's CBO's estimate. Once upon a time, Dems looked to the Biden admin's score of enhanced IRS enforcement, which was $400 billion in revenue over a decade.
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@aduehren
Andy Duehren
2 years
Janet Yellen in sunglasses
Tweet media one
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@aduehren
Andy Duehren
2 years
Manchin, to reporters, again calls for the reconciliation bill to raise the corp rate up to 25% and cap gains up to 28%. Sinema ruled out these exact rate hikes last year. Manchin has wanted her to reconsider, but she's remained opposed. From Feb:
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@aduehren
Andy Duehren
2 years
In this version: Raising the debt limit by $2.5 trillion—rather than a much larger increase that would allow lawmakers to avoid the issue for years—was part of the agreement between McConnell and Schumer.
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@aduehren
Andy Duehren
3 years
Sounds like IRS enforcement may fall out of the bipartisan infrastructure deal. One of the biggest pay-fors for the deal
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@aduehren
Andy Duehren
2 years
CBO finds BBB adds $367b to the deficit over a decade, though that does not include revenue from IRS enforcement. CBO estimates IRS measures would generate ~$127b in revenue, WH says it would be $400b.
@USCBOcostest
CBO Cost Estimates
2 years
Summary of Cost Estimate for H.R. 5376, the Build Back Better Act
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@aduehren
Andy Duehren
2 years
“It is looking good that we are going to pass the CR tonight,” Schumer tells reporters
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@aduehren
Andy Duehren
2 years
Nugget in this story w/ @elizacollins1 and @siobhanehughes : Sinema told donors in August that Schumer was aware of her opposition to raising corp + cap gains tax rates. Dems kept those measures in BBB until October, when they dropped them b/c of Sinema.
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@aduehren
Andy Duehren
2 years
Here at the Zozoji temple in Tokyo, @SecYellen is attending Shinzo Abe’s wake.
Tweet media one
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@aduehren
Andy Duehren
3 months
Ackerman is a top of the line talent, delivering scoop after finreg scoop. And I don’t just say that because we share a first name. He is a star who dominated the aftermath of the SVB collapse. You’d think WSJ would value that more
@amacker
Andrew Ackerman
3 months
Being laid off is no fun. As I learned today. Spent 13 years @wsj . Really grateful for that time and especially proud of our work during the banking tumult of the past year. Still have more stories I’d like to write.
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@aduehren
Andy Duehren
3 years
A few Rs have already voted yes. Starting to build a margin of error here
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@aduehren
Andy Duehren
2 years
Schumer on suspending gas tax: "We're having a caucus discussion on it. We haven't yet taken a caucus position on it."
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@aduehren
Andy Duehren
2 years
united states senate outdoing itself this week
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@aduehren
Andy Duehren
5 years
strong "Kill Bill" vibes from the speaker of the house this morning
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@aduehren
Andy Duehren
2 years
New: Yellen castigates Russian officials in opening to G20 meeting. "You share responsibility for the innocent lives lost and the ongoing human and economic toll that the war is causing around the world," she said, per Treasury official. Russian deputy FinMin in room.
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@aduehren
Andy Duehren
6 years
When you ask someone if they’d talk to you for a story you’re working on, and they tell you that they are also a reporter
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@aduehren
Andy Duehren
2 years
Treasury cut off Russia’s ability to make payments on its dollar-denominated sovereign debt, putting Russia on a path toward defaulting on its foreign debts this summer. w/ @ajsaeedy Yellen telegraphed the move last week.
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@aduehren
Andy Duehren
2 years
Yellen on Meet the Press says the US economy is not in a recession even if Q2 GDP growth is negative. "I would be amazed if the NBER would declare this period to be a recession even if it happens to have two quarters of negative growth," she said.
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@aduehren
Andy Duehren
3 years
I took another look at Dem's debate on means testing. It scrambles the typical centrist vs. progressive divide, with some centrists favoring universal-style programs that they hope could emulate Social Security's popularity and longevity.
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@aduehren
Andy Duehren
2 years
Will Menendez vote no because there’s no SALT in the Manchin deal? “I don’t make decisions like that, gentlemen, ladies. I look at the totality of it.”
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@aduehren
Andy Duehren
2 years
Manchin on today's inflation numbers: "As inflation and our $30 trillion in national debt continue a historic climb, only in Washington, DC do people seem to think that spending trillions more of taxpayers’ money will cure our problems, let alone inflation."
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@aduehren
Andy Duehren
3 months
Emily is one of the best editors I've ever worked with. She could always find the weak point of a story and help make it stronger. WSJ was lucky to have her—and so would another newsroom.
@ewstephe
Emily Stephenson
3 months
During my first DC internship, the company where I worked closed a newspaper. I’ve been expecting a day like yesterday for 15 years. I loved working with some of the most talented people I know. Hire these folks 👇🏻
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@aduehren
Andy Duehren
2 years
The Treasury Secretary speaks about the Biden admin’s climate efforts at a solar farm in North Carolina
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@aduehren
Andy Duehren
7 months
Janet Yellen waters a plant to rapturous applause in Ben Guerir, Morocco
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@aduehren
Andy Duehren
2 years
Nugget from @bykowicz : Sinema told donors Wednesday night that it makes no sense to squeeze the private equity industry that will finance projects in the infrastructure and chips bill, per a lobbyist Our story:
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@aduehren
Andy Duehren
2 years
Scenario: Rs + Sinema strip out the carried-interest provision from the recon bill during vote-a-rama. Whether the bill passes is a play at the plate at 6am Saturday, when Schumer's wraparound amendment restores/leaves out carried interest, appeasing/frustrating Manchin/Sinema.
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@aduehren
Andy Duehren
3 years
Wyden statement on climate as clean electricity program in doubt: “While I strongly support the Clean Energy Payment Program, it’s important to note that the overwhelming majority of emissions reductions come from the energy tax overhaul in our Clean Energy for America Act.”
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@aduehren
Andy Duehren
3 years
Manchin says he’s in the same place on paid leave: it doesn’t belong in the reconciliation bill. Also says that he wasn’t aware Pelosi was planning on putting back in the bill in the House.
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@aduehren
Andy Duehren
3 years
NEWS: Moderate Democrats discussed a topline below $3 trillion for the party's reconciliation bill at their White House meeting today, two people familiar tell me and @kristinapet . Topline currently at $3.5 trillion.
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@aduehren
Andy Duehren
3 years
The BIF bans vaping on Amtrak
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@aduehren
Andy Duehren
2 years
Nugget of news: Democrats are discussing ways to modify their carried-interest provision to get Sinema's support--and appease Manchin's desire to include something on the issue, per sources. There are a few different ways to pare back the proposal without nixing it entirely.
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@aduehren
Andy Duehren
3 years
teamed up w/ @lindsaywise for a portrait of Capitol Hill today: the halls of American democracy were transformed into a military zone, with many lawmakers and staff still reeling from last week’s violence.
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@aduehren
Andy Duehren
2 years
Menendez says his SALT efforts with Sanders have faltered—Menendez says he has pushed for an income cap that would make the SALT change revenue neutral. He says Sanders wants a lower cap.
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@aduehren
Andy Duehren
3 years
Big loss for the Capitol press corps and fans of candid quotes everywhere
@MeetThePress
Meet the Press
3 years
BREAKING: House Budget Committee Chair John Yarmuth announces he won't seek re-election
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@aduehren
Andy Duehren
2 years
New: Yellen says it is likely that the US will not extend an exemption for the US investors to receive Russian debt payments, raising likelihood of Russian default
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@aduehren
Andy Duehren
2 years
Cornyn writes JCT and CBO asking them to score BBB as if all its components were permanent. Many BBB programs will expire within a few years, though many Dems want to reauthorize them later. Permanence would cost much more $ than the current ~$2t.
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@aduehren
Andy Duehren
3 years
more like CB-woah right
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@aduehren
Andy Duehren
7 years
Senate democrats grilling @JohnCornyn on the floor about the healthcare bill.
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@aduehren
Andy Duehren
1 year
Interesting CRS report on whether the U.S. has ever defaulted. Three instances when it arguably has: --Missed payments during war of 1812 --Suspension of gold standard in 1933 --'Mini-default' in 1979 US does not have "unblemished payment record"
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@aduehren
Andy Duehren
7 years
"If we start removing trees we are going to be lowering the quality of life in Texas," says Fort Worth official on SB14.
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