TOMORROW STARTS TONIGHT: WILL LAWMAKERS REAUTHORIZE EXIM? The bank’s charter has lapsed. Now attention is turning toward the highway transportation bill, where lawmakers are expected to attach an amendment in the Senate that would reauthorize the bank. It’s unclear whether Tea Party groups and conservatives will be able to thwart bank supporters.
COMING TOMORROW TO THEHILL.COM: My exclusive look inside the Tea Party’s strategy to weaken Ex-Im: Conservatives have identified a new line of attack against the Export-Import Bank, in the event that the embattled institution wins reauthorization in Congress this summer. The bank’s critics plan to block President Obama from filling vacancies on Ex-Im’s board of directors, a strategy that, if successful, would significantly weaken the bank’s operations.
{mosads}– WHAT ABOUT MCCARTHY? A former top GOP aide who supports the bank emails OVERNIGHT: “I have to call a spade a spade here — [House Majority Leader Kevin McCarthy’s] newfound opposition to Ex-Im is nothing but a calculated political risk to appease the conservatives… McCarthy’s change of tune certainly makes a lot of sense considering one his most talked about challengers for Speaker is [House Financial Services Committee Chairman Jeb Hensarling]. Walking lock-step with him on Ex-Im keeps Hensarling from having a wedge issue to tout against him in the future.”
THIS IS OVERNIGHT FINANCE, and I hope you had an incredible Fourth of July weekend celebrating the greatest nation in the history of the world. I watched fireworks at the Iwo Jima Memorial and ate way too much food. Tweet: @kevcirilli; email: kcirilli@digital-release.thehill.com; and subscribe: http://digital-release.thehill.com/signup/48
FORGET GREECE… WHAT ABOUT PUERTO RICO? Pete Schroeder: “A House Democrat is urging President Obama to take emergency steps to help Puerto Rico steer through an economic crisis. Rep. Nydia Velazquez (D-N.Y.) wrote to the president Monday, urging him to convene a meeting of top financial regulators to help the island commonwealth find a way to deal with its insurmountable debt. Specifically, Velazquez wants to see the president convene a meeting of his Working Group on Financial Markets, which gathers the top financial officials from the administration to tackle the biggest issues facing financial markets.” http://bit.ly/1dI312v
Back to Greece…
GREECE UPDATE: NOW WHAT? WSJ: “Germany stood firm against debt relief for Greece the day after the country’s voters issued a resounding ‘no’ to more austerity, signaling a tough fight ahead on one of the few opportunities for compromise on any potential bailout for Athens.
“About 61% of Greek voters cast their referendum ballots on Sunday in support of Prime Minister Alexis Tsipras’s stance against the pension cuts and tax increases that Greece’s creditors—the rest of the eurozone and the International Monetary Fund—say are necessary to get Greece’s economy going again. That leaves cutting debt as a possible make-or-break element of any deal to keep Europe’s currency union intact.” http://on.wsj.com/1CWH06Q
WHITE HOUSE PUSHES FOR GREECE DEAL. From The Hill’s Jordan Fabian: “The White House on Monday urged Greek and European officials to reach a deal to remain in the eurozone. Despite ‘significant differences’ between both sides, White House spokesman Josh Earnest said both Greek and European leaders believe it’s within their best interests to resolve Greece’s debt crisis in a way that keeps it in the currency area.
“‘The task before the leaders of Europe remains the same,’ he told reporters. ‘We have long indicated that it’s our view that it’s in their collective interest for these differences to be resolved.’
“President Obama and top Cabinet officials are engaged with their European counterparts, but Earnest indicated the U.S. won’t play a leading role in brokering a compromise. ‘Ultimately, it will be the responsibility of the Europeans to resolve it,’ he said.” http://bit.ly/1gk3ud2
UNDERPAID: US WOMEN’S NATIONAL TEAM. Rebecca Shabad has the story: “The winners of the Women’s World Cup will be paid four times less than the losers of the men’s soccer tournament, Rep. Carolyn Maloney (D-N.Y.) said Monday. The U.S. women’s national team that won the World Cup 5-2 on Sunday night will receive $2 million per player for the victory, Maloney said. That’s much less than the roughly $8 million given to players eliminated in the first round of the men’s tournament, she said.” http://bit.ly/1LT53vM
What a game… congratulations, Team USA!…
HIRED: JOSHUA ROSENBERG TO NY FED, via WSJ: “The Federal Reserve Bank of New York said Monday that Joshua Rosenberg will become its chief risk officer and executive vice president effective July 16, replacing Sandra Krieger, whose retirement was announced earlier this year. Mr. Rosenberg is a veteran of the bank, joining as an economist in 2001. Before that, he was a finance professor at New York University. The New York Fed says its risk officer leads the implementation of its operational, financial and enterprise goals. Mr. Rosenberg will serve on the bank’s management committee.” http://on.wsj.com/1CijaY9
FIRED: TRUMP FROM GOP MAINSTREAM, via CNN: “Jeb Bush said Donald Trump doesn’t represent the views of most Republicans, offering his most aggressive comments so far on the real estate titan who’s used inflammatory language when talking about immigrants.” http://cnn.it/1dFzcja
HAPPY SHARK WEEK, via Lydia Wheeler: “A liberal group that advocates for racial and economic reform is using Shark Week on the Discovery Channel to call attention to predatory payday lending practices.” http://bit.ly/1KM7GNU
THE STORM AHEAD: DC BRACES FOR BUDGET BATTLES, via Shabad: “Republicans and Democrats are locked in an increasingly bitter debate over government spending, with few legislative weeks remaining to avoid another shutdown this fall. Bolstered by veto threats from President Obama, Senate Democrats are vowing to block all GOP spending bills, arguing the legislative work is pointless until Republicans come to the negotiating table.” http://bit.ly/1M7X4I8
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