On tap tomorrow LEADING THE DAY Trump pulls US out of Iran nuclear deal: President Trump announced Tuesday that he will withdraw the United States from the Iran nuclear deal, breaking with European allies, fulfilling a major campaign promise and dealing a significant blow to the international agreement negotiated by his predecessor. "Today's action sends a critical message: the United States no longer makes empty threats," a triumphant Trump said during a televised address from the Diplomatic Room of the White House as Vice President Pence, national security adviser John Bolton and others looked on. The president called the accord put in place under former President Barack Obama in 2015 "a horrible, one-sided deal that should have never, ever been made." "It didn't bring calm, it didn't bring peace, and it never will," he added. Trump said old sanctions will be reimposed and that the U.S. "will be instituting the highest level of economic sanction." The Hill's Rebecca Kheel and Jordan Fabian have more on today's announcement. About those sanctions: - Bloomberg News: "President Donald Trump's decision to reimpose sanctions on Iran threatens to tighten global oil markets and could derail tens of billions of dollars in business deals.
"But the 'snap-back' of penalties on Iran isn't immediate, instead kicking in over six months. That could allow time to negotiate a new accord to replace or supplement the deal agreed to during Barack Obama's presidency." - CNBC: Here are the sanctions that will snap back into place now that Trump has pulled the U.S. out of the Iran nuclear deal
House votes to repeal auto-loan guidance, setting new precedent: The House voted Tuesday to repeal a controversial edict on auto lending from the Consumer Financial Protection Bureau (CFPB), capping off an unprecedented use of congressional powers that could give Republicans a new way to reverse regulations. Republicans and a group of Democrats passed a resolution to repeal the CFPB's 2013 guidance on "dealer markups," which is the additional interest an auto dealer adds to a third-party loan as extra compensation. The measure to repeal the 2013 policy, which is not a formal federal rule, passed the Senate last month. President Trump is expected to sign the resolution. If he does, it would be the first time Congress used its powers under the Congressional Review Act (CRA) to repeal an informal federal policy. Lawmakers voted along party lines to repeal the CFPB guidance, with 223 Republicans and 11 Democrats supporting the resolution. The measure, if signed by Trump, would strike the CFPB auto-lending policy from the books and ban the bureau from issuing a similar rule in the future. I've got more here on today's historic vote. What comes next: President Trump is likely to sign the repeal resolution within days. MARKET CHECK: Stocks closed little-changed on Tuesday, with all three major indexes posting almost identical totals to Monday's close. The Dow Jones Industrial Average rose by 0.01 percent Tuesday, while the S&P 500 and Nasdaq lost 0.03 percent and gained 0.02 percent respectively. GOOD TO KNOW - President Trump on Tuesday officially asked Congress to rescind $15.4 billion in spending from previously approved funds, the largest single such request from a White House and the first in nearly two decades.
- Job openings in the U.S. hit a record high in March with 6.6 million jobs advertised, according to a report released by the Labor Department on Tuesday.
- Sen. Sherrod Brown (D-Ohio) is asking big banks to detail how they plan to help American workers following the enactment of the GOP tax-cut law.
- Credit reporting agency Equifax recently sent more details to Congress about its massive data breach last year, which impacted over 145 million Americans.
- The White House is dragging out the nomination of a permanent director for the Consumer Financial Protection Bureau to ensure that acting CFPB Director Mick Mulvaney calls the shots at the agency until the end of the year or longer, according to American Banker.
ODDS AND ENDS - A judge is ordering Jay-Z to testify in an SEC probe.
- The tradition of giving former Speakers of the House an office and staff is coming to an end following a quiet bout of one-upmanship between Paul Ryan and Minority Leader Nancy Pelosi (D-Calif.), a former Speaker herself.
- Gary Cohn, the former top economic adviser to President Trump, said Tuesday he feels "happier" since leaving his White House job and doubled down on his anti-tariff views that led to his departure.
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