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2018年8月2日 星期四

Breaking News: Trump blasts media amid chants of 'CNN sucks'

 
 
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Trump blasts media amid chants of 'CNN sucks'
After a day of tension between the White House and CNN, the crowd at President Trump’s Pennsylvania rally on Thursday night broke out into chants of “CNN sucks” when the president blasted "fake news."

Trump at the rally in Wilkes-Barre cited multiple examples of what he called "fake news," including saying the “fake news refused to call” Pennsylvania for him during the 2016 presidential election.
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On The Money: Senators propose 'crushing' Russia sanctions | Trump calls for food stamp work requirements in farm bill | China tells US to 'chill' on trade | Apple hits $1 trillion in value

 
 
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Happy Thursday and welcome back to On The Money. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.

 

THE BIG DEAL: A bipartisan group of senators is introducing legislation to impose "crushing" new financial penalties on Russia.

The bill would slap new sanctions on Moscow, require two-thirds Senate approval if President Trump wanted to withdraw from NATO and force the State Department to determine if Russia is a state sponsor of terrorism.

GOP Sen. Lindsey Graham (S.C.) said current U.S. sanctions against Russia haven't stopped Moscow from trying to meddle in the November midterm elections, despite Congress passing new legislation last year.

"Our goal is to change the status quo and impose crushing sanctions and other measures against [President Vladimir] Putin's Russia until he ceases and desists meddling in the US electoral process, halts cyber-attacks on US infrastructure, removes Russia from Ukraine, and ceases efforts to create chaos in Syria," he said in a statement. The Hill's Jordain Carney has more on the sanctions here.

 

What's going on?

  • The proposal comes as lawmakers are increasingly concerned that Russia will try to interfere in the 2018 elections, where control of Congress hangs in the balance.
  • But senators have struggled to coalesce behind any one measure in the lead-up to the election. And resolutions that would give the Senate's support to the intelligence community's finding that Russia meddled in the 2016 election have routinely been blocked.

 

What the sanctions would do:

  • The new financial penalties would target political figures, oligarchs, family members and others that "facilitate illicit and corrupt activities" on behalf of Putin.
  • It would also impose new sanctions on transactions tied to investments in state-owned energy projects, transactions tied to new Russian debt, and people with the capacity or ability to support or carry out a "malicious" cyber act.
  • The legislation would also create a State Department office of cyberspace and the digital economy, create a national fusion center to respond to hybrid threats and reauthorize the countering Russia influence fund.
  • It would also fold in legislation that allows the Justice Department to pursue charges for those caught hacking a voting system that is used in a federal election and require a report on the net worth and assets of Putin.



Keep an eye on this: The bill also includes sanctions on investments in Russian state-owned energy projects, certain oil production activities in Russia and trading new Russian sovereign debt. That could get a little tricky.

As I wrote last week, further sanctions on Russia's debt and energy and financial sectors could create severe economic consequences that could potentially affect the U.S.

Lawmakers scrapped planned sanctions on Russian oil last year after U.S. drillers and refineries expressed concerns that the provisions could halt American projects abroad. Treasury also warned lawmakers in February that further sanctions on Russia's debt or financial markets could devastate its economy so badly that they could provoke a military response from the Kremlin.



What comes next:

  • The chairmen of the Senate Banking and Foreign Relations committees both agreed to hold hearings on further Russia sanctions, and could do so within the next few weeks.
  • The Trump administration has also shown a growing sense of urgency about potential election interference, and is stepping up their response to alleged Russian hacking efforts. We'll see if further sanctions play a role in that effort.

 

ON TAP TOMORROW

  • July jobs report released, 8:30 a.m.

 

LEADING THE DAY

Trump calls for food stamp work requirements in farm bill: President Trump on Thursday urged House and Senate lawmakers to adopt strict work requirements for food stamps when they craft a merged farm bill.

"When the House and Senate meet on the very important Farm Bill – we love our farmers - hopefully they will be able to leave the WORK REQUIREMENTS FOR FOOD STAMPS PROVISION that the House approved," Trump tweeted. "Senate should go to 51 votes!"

Both the House and Senate passed their respective farm bills in June. However, the House bill imposes new work requirements on the food stamps program and tightens overall eligibility on who can qualify for the federal assistance.

Conservatives have seized on the work requirement provisions as key to a final version of the farm bill. The Hill's Nathaniel Weixel explains the conflict here.

 

Wilbur Ross brushes off harm of Trump tariffs: Commerce Secretary Wilbur Ross on Thursday defended the Trump administration's latest threat to ramp up tariffs on China, saying it would not lead to disaster for the U.S. economy.

"It's not something that's going to be cataclysmic," he said in an interview with Fox Business Network.

The comments came one day after the Trump administration announced it is considering raising planned tariffs on $200 billion of Chinese imports to 25 percent from 10 percent, a sharp increase that could fuel a trade war between the world's two largest economies.

Ross sought to soothe those concerns, saying a 25 percent tariff would only amount to $50 billion, or only a fraction of 1 percent of the Chinese economy.

The Commerce secretary said Trump believes additional tariffs are needed because China has refused to "modify their behavior" in response to an initial round of tariffs and other U.S. economic sanctions. The Hill's Vicki Needham tells us why here.

 

Meanwhile, China's top diplomat on Thursday encouraged the Trump administration to "calm down" amid escalating tariff threats, saying increased rhetoric will not lead to results.

Wang Yi said at a forum in Singapore that a U.S. campaign to ratchet up pressure on Beijing will not "have any effect," Reuters reported. "We hope that those directly involved in the United States' trade policies can calm down, carefully listen to the voices of U.S. consumers ... and hear the collective call of the international community."

 

MARKET CHECK: CNBC: "The S&P 500 and Nasdaq Composite rose on Thursday as Apple became the first U.S. publicly traded company in history to reach $1 trillion in market value.

"The S&P 500 advanced 0.5 percent to 2,827.22, while the tech-heavy Nasdaq jumped 1.2 percent to 7,802.69. The Dow Jones Industrial Average closed just 7.66 points lower at 25,326.16, nearly erasing a 200-point loss."

 

More on Apple becoming the first U.S. company to hit the $1 trillion value mark here.

 

GOOD TO KNOW 

  • Sen. Marco Rubio (R-Fla.) on Thursday rolled out legislation to create a paid parental leave benefit, furthering a push from Republicans to take action on the topic.
  • Fewer than a third of Americans think the North American Free Trade Agreement (NAFTA) is good for the country, according to a new study that comes as the Trump administration pushes to renegotiate the free trade deal with Canada and Mexico.
  • Chippewa Valley Bean Co. was on track to ship 60 percent of its beans ($25 million) traded internationally this year to Europe. Now, 80 shipping containers' worth of kidney beans, valued at a total of $2 million, are stuck in its warehouses as orders from Europe dry up, according to The Wall Street Journal.
  • The Securities and Exchange Commission is boosting its scrutiny of brokerages that deal in cryptocurrencies, according to Bloomberg News.
  • ZTE loaded up with powerful Washington lobbyists to convince lawmakers to abandon penalties that would have decimated the Chinese telecom company, according to The New York Times.
  • Commerce Secretary Wilbur Ross and Sen. Chris Coons (D-Del.) touted a bipartisan plan backed by the White House to revamp U.S. foreign aid as a crucial tool to fight Chinese influence in Africa in a CNBC op-ed.

 

ODDS AND ENDS

  • The New York Times visualizes how Apple compares in size to dozens of other corporations in this stunning and bouncy graphic.
  • Op-Ed: Desmond Lachman, a resident fellow at the American Enterprise Institute, Trump argues why Trump's policies "have us headed for twin deficits."
 
 
 
 
 
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Overnight Health Care: Four cities sue Trump claiming ObamaCare 'sabotage' | Planned Parenthood hangs onto federal grants for now | Dems to force vote on blocking non-ObamaCare plans

 
 
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Welcome to another soggy Thursday edition of Overnight Health Care.

Today, the Trump administration said it would continue a program that gives funding to Planned Parenthood, cities are suing the Trump administration over its "sabotage" of the health law, and we take a look at the liberal group bankrolling Medicaid expansion ballot measures in red states.

But we'll start with a lawsuit...

 

Four cities sue Trump saying ObamaCare 'sabotage' violates Constitution

Four cities (Columbus, Cincinnati, Chicago and Baltimore) are opening up a new front in the Democratic fight against President Trump's "sabotage" of ObamaCare.

Democrats have already made this a key part of their message for the midterms, but now there is a legal front too.

Details of the case: The cities say Trump's actions violate the Constitution's provision that the president "shall take care that the laws be faithfully executed."

Trump's actions that the lawsuit point to include expanding insurance options that do not comply with the health-care law's rules, cutting funding for outreach to help people sign up for coverage, and shortening the sign-up period for ObamaCare.

Word of caution: Cases on this constitutional provision face a tough road because the president has considerable discretion.

Read more here.

 

The Trump administration will continue funding Planned Parenthood through a national family planning program, despite calls from Republicans to exclude it from the grants.

The Department of Health and Human Services (HHS) on Thursday announced the 96 organizations across the U.S. that would receive Title X family planning grants, including 13 Planned Parenthood affiliates.

Most of the organizations that will receive funding also participated in the program last year, though 12 new grantees were added, HHS said. The recipients should be receiving the grants no later than Sept. 1.

Why it matters: The administration is facing considerable pressure from Republicans and anti-abortion groups to cut off Title X funds to Planned Parenthood. But HHS is limited in what it can do until it finalizes a rule that would dramatically change the Title X program and give it more power to steer grants away from Planned Parenthood.

Context: Planned Parenthood plays a big role in Title X, serving 40 percent of patients that get care through the program.

Read more about the grants here.

 

Meet the group funding the fight to expand Medicaid in red states

Voters in Idaho, Nebraska and Utah may have the chance to do something their state lawmakers would not: expand Medicaid to thousands of residents.

After years of being told "no" by GOP-controlled state legislatures, health-care advocacy groups have spent much of 2018 leading campaigns to put the question on the ballot before voters in November.

Behind the scenes, those groups have been aided by The Fairness Project, a Washington-based organization that has become the primary funder of these ballot-initiative campaigns, spending close to $5 million in five states over the past year.

"In so many places throughout the country, you have activists and also people who are impacted, folks who are desperate for health care, who just feel so disempowered because they go to their legislators and they hear 'no' over and over and over again," said Jonathan Schleifer, executive director of The Fairness Project.

Why it matters: The number of states that haven't expanded Medicaid is slowly shrinking. Currently, 33 states, and D.C., have expanded Medicaid. Maine expanded via voter referendum last year, and Virginia expanded this summer.

Read more here.

 

Senate Dems will force vote to block non-ObamaCare plans

Top Senate Democrats said they are planning to force a vote on a measure that would overturn the Trump administration's rule expanding access to cheap, controversial insurance plans.

The resolution of disapproval will be introduced by Sen. Tammy Baldwin (D-Wis.). Senate Minority Leader Charles Schumer (D-N.Y.) said he thinks there will be unanimous support among Democrats once the resolution is introduced.

The resolution aims to overturn the Trump administration's new rule that expands access to non-ObamaCare insurance plans.

The details: The administration touts these plans because they offer lower premiums for healthy people, but the plans don't need to follow ObamaCare rules, meaning they can charge people with preexisting conditions higher premiums and leave out coverage of certain health services.

The politics: The idea is pure messaging; Schumer wants to get Republicans on the record of voting against protecting pre-existing conditions. But the maneuver is one they had relative success with earlier this year involving net neutrality.

Read more on Schumer's plan here

 

Express Scripts pushes back on criticism of pharmacy benefit managers

Express Scripts, one of the largest pharmacy benefit managers (PBMs), which negotiate with drug companies over prices, is trying to get its side of the story out as it faces attacks from the administration and pharmaceutical companies who deride them as "middlemen."

Dr. Steve Miller, Senior Vice President & Chief Medical Officer at Express Scripts, told reporters Thursday that the drug pricing problem lies with drug companies themselves.

"If they want to lower the price of a drug that's fully within their power; they can do it anytime they want," he said.

He pushed back on the idea the Trump administration has explored of eliminating rebates -- discounts that drug companies give to PBMs -- in favor of a simpler system.

Miller said rebates keep drug prices down. "If rebates just go away it's probably a big gift to pharma," he said.   

 

Trump calls for food stamp work requirements in farm bill

President Trump on Thursday urged House and Senate lawmakers to adopt strict work requirements for food stamps when they craft a merged farm bill.

"When the House and Senate meet on the very important Farm Bill – we love our farmers - hopefully they will be able to leave the WORK REQUIREMENTS FOR FOOD STAMPS PROVISION that the House approved," Trump tweeted. "Senate should go to 51 votes!"

State of play: Both the House and Senate passed their respective farm bills in June. However, the House bill imposes new work requirements on the food stamp program and tightens overall eligibility on who can qualify for the federal assistance.

Trump factor: House Republicans have insisted they will fight for their version of the legislation, and Trump's explicit support for work requirements could complicate an already fraught process when the two chambers formally meet in the fall to merge their respective bills.
Read more here.

 

Thursday roundup:

new study reveals that the rate of opioid prescriptions in the country has not significantly declined for many patients over the past decade.

Another study, from the Brookings Institute, found ObamaCare premiums would likely be decreasing next year if the Trump administration and congressional Republicans had left the law alone.

The Washington Post reports that Maryland state Speaker of the House Michael E. Busch will push to have abortion rights enshrined in the state's constitution.

 

What we're reading

Allergan sues Pfizer over costs of opioid litigation (Reuters)

FDA did not intervene to curb risky fentanyl prescriptions (The New York Times)

Lack of dental coverage hampers Medicaid recipients, suit says (The New York Times)

 

State by state

Nevada GOP senator's health care views heat up tough race (AP)

Overturning Roe v. Wade wouldn't end abortion fight in California (Sacramento Bee)

Tennessee Dem gubernatorial candidate: Failure to expand Medicaid is state's 'greatest moral failure' (Jackson Sun)

 

From The Hill's opinion page

Palliative care for the living -- more education is needed

Comprehensive health care must include mental substance abuse treatments 

 
 
 
 
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