corporations

Wall Street Regulator Coddles Big Banks but Clobbers Small Firms
Lenient treatment from the SEC leaves misconduct unchecked

Protesters call for higher taxes on big banks in 2012. (Neilson Barnard/Getty Images file photo)

JPMorgan Chase, the nation’s largest financial services firm, has paid $28 billion to settle cases brought by federal agencies in the past 10 years, most of them related to the 2008 financial crisis.

Yet the massive fines extracted from banks like JPMorgan for their role in the Wall Street meltdown have done little to deter other types of misconduct in the decade since, and one reason is lenient treatment from the Securities and Exchange Commission, according to our analysis of SEC enforcement records with a Georgetown University law professor.

Fight Over Food Stamps Among Big Hurdles Facing Farm Bill
As a fall deadline looms, Congress keeps stewing and squabbling

A sprinkler irrigates farmland in Palmdale, Calif., on May 26. Lawmakers have two options as the farm bill nears expiration: reach a compromise or extend current law through an expected lame-duck session in late fall or into 2019. (Bill Clark/CQ Roll Call file photo)

If everything goes according to plan this month, House leaders will round up the necessary Republican votes to pass the chamber’s 2018 farm bill after an unexpected defeat on the floor put the legislation on hold.

The failed May 18 vote marked the second time in five years that a farm bill ran into obstacles in the House. In the Senate, meanwhile, leaders have indicated they want to pass the bipartisan legislation by the July Fourth recess.

Warren Says Democrats Lack Guts to Take on ‘Billionaire Class’
Comes after she criticized other Democrats during Dodd-Frank fight

Massachusetts Democratic Sen. Elizabeth Warren and Colorado Republican Sen. Cory Gardner hold a news conference on Thursday to discuss bipartisan action they are taking to put marijuana legislation into the hands of state lawmakers. (Sarah Silbiger/CQ Roll Call)

Sen. Elizabeth Warren criticized fellow Democrats who voted for interests of the “billionaire class” over those of most Americans.

“Until we have all of the Democrats who are willing to take on the billionaire class, until we have all of the Democrats who are willing to fight for the American people and not for a handful of billionaires and giant corporations, then it’s going to stay an uphill fight,” she said on The Intercept’s Mehdi Hasan’s “Deconstructed” podcast released Friday.

Trade Groups in Turmoil in the Trump Era
Industry associations change dramatically with the times

When Tim Pawlenty announced earlier this year that he was walking away from the Financial Services Roundtable, K Street expected the group to put out a “help wanted” sign. Instead, the membership pushed for consolidation. (Tom Williams/CQ Roll Call file photo)

When Pamela Bailey, who heads the Grocery Manufacturers Association, announced in February that she will leave her $3 million-a-year gig, it came as no shock. After all, the lobbying group had in the past year lost some of its biggest members, including candy-maker Mars Inc. and Tyson Foods, the world’s second-largest producer of chicken, beef and pork.

The organization is undergoing a “reinvention,” in the words of its spokesman Roger Lowe, and this week tapped Geoff Freeman, who runs the American Gaming Association, as its next CEO. The group will move from its downtown Washington headquarters into a smaller space across the river in the Rosslyn section of Arlington.

Shovels Down: White House Drives Dagger Into Infrastructure Bill
Administration ‘optimistic’ about a farm bill this year, Short says

Workers take a break near the presidential inauguration construction site on the West Front of the Capitol on Dec. 8, 2016. (Tom Williams/CQ Roll Call file photo)

The White House formally drove a dagger into the passage this year of the kind of massive infrastructure package called for by President Donald Trump.

What is on the White House’s legislative agenda for the rest of the year includes another tax package, a farm bill, more federal judiciary nominations — and possibly immigration legislation.

Trump Says MS-13, North Korea Show Democrats Have ‘Lost Touch’
President lashes out after Dems blame him for summit cancellation

President Donald Trump addresses the press before departing for Dallas, Texas, where he made an appearance at at the National Rifle Association convention earlier this month. (Sarah Silbiger/CQ Roll Call file photo)

President Donald Trump on Friday said congressional Democrats “have lost touch,” accusing the opposition party of rooting against his attempts to disarm North Korea and coddling members of the violent MS-13 gang.

The president on Thursday thanked a bipartisan group of lawmakers who helped pass a bill that eases financial regulations before he signed it at the White House. But the next morning, he tweeted that “Democrats are so obviously rooting against us in our negotiations with North Korea.”

Partisan Fight Over $15 Billion Rescissions Package Developing
Democrats not ready to play ball, Pelosi suggests

President Donald Trump begrudgingly signed the omnibus spending bill in March. Now his administration is making a $15 billion rescissions request. (Sarah Silbiger/CQ Roll Call)

The Trump administration on Monday outlined a roughly $15 billion “rescissions” request it plans to send to Congress on Tuesday, targeting unspent health care and green energy funds for the largest share of the cuts.

The bulk of that request proposes eliminating $7 billion in budget authority from the Children’s Health Insurance Program — $5 billion from fiscal 2017, for which there is no authority to spend the money, and $2 billion from a contingency fund for states that the White House doesn’t expect any states to draw from, a senior administration official said.

In Face of May Day Protests, Here’s Where Senators Stand on Labor
See where senators stand on immigration reform, minimum wage and right-to-work

Immigration rights activists rally in Dupont Circle in Washington before their May Day march to the White House to oppose President Donald Trump’s immigration policies on May 1, 2017. (Bill Clark/CQ Roll Call file photo)

Protesters took to the streets this week for May Day demonstrations calling  for better working conditions, higher pay and more compensation.May Day protests usually take place in progressive cities and states and focus on low income workers, immigrants and minimum wage jobs. The politicians representing those places and people don’t always share activist views on labor. Here are what senators from a few states with major protests think about activists’ demands:

Raising the minimum wage:“You can bet Democrats in Congress are going to fight to make $15 minimum wage a reality in this nation, from one end of the country to the other,” Senate Minority Leader Chuck Schumer said in a speech on the steps of the Capitol last week, according to Vox.Immigrant workers:“I support further securing our borders; prohibiting hiring of undocumented immigrants by requiring job applicants to present a secure Social Security card,” the New York Democrat told the League of Women Voters in 2010. He also supports “requiring undocumented immigrants to register with the government, pay taxes, and earn legal [status or face deportation.]” Right-to-work laws:“We’re offering the middle class and those struggling to get there a better deal by taking on companies that undermine unions and underpay their workers, and beginning to unwind a rigged system that undermines every worker’s freedom to negotiate with their employer,” Schumer told the Washington Post on fighting Right-to-Work laws.

Opinion: The Big Test for Business
Private sector needs to make the most of tax cuts and regulatory relief

President Donald Trump signs the sweeping tax overhaul into law at the White House on Dec. 22. The private sector now needs to make the most of the tax cuts and regulatory relief that the GOP has provided, Winston writes. (Chip Somodevilla/Getty Images file photo)

Last December when President Donald Trump signed the Republican tax cut bill, large and small businesses were given an opportunity, literally and figuratively, to deliver the goods for the American people.

The economic advantages business is now enjoying are obvious. Lower tax rates and less regulation for both large companies and smaller S corporations lead the list and position the private sector to drive growth and reap the financial benefits of that growth.

Tax Day Fight Previews Larger Political Battle Over New Law
Midterm messaging is likely to contain a heaping dose of tax rhetoric

Speaker Paul D. Ryan, R-Wis., holds a sample of a postcard-style tax filing during a news conference in the House studio after a meeting of the GOP Conference on Tuesday. (Tom Williams/CQ Roll Call)

As citizens across the country rush to submit their 2017 tax returns before the deadline, Republicans and Democrats in Congress on Tuesday amped up the messaging battle over last year’s tax law.

The dueling talking points presented by each party are a preview of the months to come as the midterm elections approach.