The legislative battle between President Obama and prominent Democrats over a government funding bill boiled down to differences of opinion on legislative tactics, rather than an ideological rift, the White House argued Monday.
White House press secretary Josh Earnest painted the differences between Obama and lawmakers like House Minority Leader Nancy Pelosi (D-Calif.) and Sen. Elizabeth Warren (D-Mass.) as less “consequential” than similar disagreements between Republican lawmakers.
{mosads}“The president made a tactical decision to go ahead and support this piece of legislation because he believes, frankly, that it’s better than the agreement that would be reached three months from now,” he said.
Earnest contrasted that with Republicans, describing rifts that “are much deeper and, frankly, more consequential” within that party.
“I think this is a story that, frankly, will be told throughout the legislative process in 2015 and beyond as Republicans in both the House and the Senate figure out how they’re going to assume the responsibility of essentially being in the majority and running both the House of Representatives and the United States Senate,” he said.
The president came under fire last week from members of his own party for throwing his support behind a budget package that included rollbacks to the Dodd-Frank financial reform bill as well as loosened restrictions on campaign donations.
Earnest said Obama “shared the view that the specific provision related to watering down one element of Wall Street reform was not a good idea,” but ultimately decided Democrats could not get a better deal.
Republicans planned to offer a three-month continuing resolution if the so-called cromnibus failed, and Obama, Earnest said, calculated that Democrats’ “leverage” would be worse because the GOP would then control both chambers.
Still, Obama has faced criticism from Warren, among others, not only for his legislative approach, but also for actions he’s taken administratively — including the decision to nominate investment banker Antonio Weiss to a top job in the Treasury Department. Weiss’s firm, Lazard Ltd., helps companies broker merger deals that allow them to avoid their tax obligations in the United States.
Earnest said Warren is “somebody that [Obama] can work with to protect the interest of middle-class families and to make sure that well-connected Wall Street firms,” and noted the pair worked collaboratively to kill a deal being negotiated by Senate Majority Leader Harry Reid (D-Nev.) that would have permanently extended some corporate tax breaks.
“I would anticipate that we’ll see that kind of cooperation into the new year as well,” Earnest said.
The White House spokesman also indicated the president would be reticent to again agree to roll back elements of Dodd-Frank.
“The president doesn’t believe that it’s in the best interest of the country for us to water down Wall Street reform,” Earnest said, describing regulatory efforts as a priority.
“I do anticipate that we’re going to expend some time and energy next year and the year after trying to counter the efforts of Wall Street firms and their lobbyists,” Earnest said.