The Archive
Every issue of the Punchbowl News newsletter, including our special editions, right here at your fingertips.
Join the community, and get the morning edition delivered straight to your inbox.
By transforming bill tracking and floor action with expert analysis from the Punchbowl News team, The Portal delivers concise, curated insights that cut through the noise, helping policy leaders win. Request a demo today.
PRESENTED BY
THE TOP
Thune pitches ambitious reconciliation timeline
Happy Tuesday afternoon.
News: Incoming Senate Majority Leader John Thune said Tuesday that he wants to pass a reconciliation package within the first 30 days of Donald Trump taking office.
Thune told GOP senators at a closed-door policy retreat that the measure, which he described as âhighly impactful,â would include non-tax policy items like border security, defense and energy.
This is a highly ambitious timeline, and it will be difficult to convince the Senate parliamentarian that all of these provisions would fall under the reconciliation rules. Republicans have expressed confidence about satisfying the parliamentarian, arguing Democrats expanded the scope of reconciliation in the last Congress.
This timeline would give Republicans additional time to do a separate reconciliation package centered on the Trump tax cuts, which will expire at the end of 2025 absent congressional action.
Separating some of the GOPâs other policy priorities from a tax bill next year could make extending Trumpâs signature tax-cut law simpler.
One of the major potential limits on Republicansâ ambitions will be offsets â depending on how much of a reconciliation package they decide to pay for. Republicans have been discussing what sort of deficit impact they think lawmakers in the party will stomach, especially given the Houseâs razor-thin majority.
Big changes afoot: Thune warned GOP senators that the first few months of 2025 could include longer days and weeks than theyâre used to, citing the possibility that Democrats will try to jam up the Senate floor on Trumpâs Cabinet nominees or other Senate business.
And Thune said he would âmodernizeâ the work week longer-term to include voting on Fridays. The Senate, of course, has been pretty religious with its Monday-to-Thursday schedule, so this would represent a significant change.
Thune also told Republicans that votes will no longer be held open indefinitely, which has been a common practice lately. Votes are often held open for more than an hour, which enables individual senators to take other meetings.
More from inside the room: The more immediate focus, Thune told Republicans, will be passing a government funding bill before the Dec. 20 deadline, as well as the annual defense authorization bill and a disaster relief supplemental.
And he promised that the Senate would return to regular order when it considers everything from appropriations to the defense bill to Congressional Review Act measures in 2025.
Trump also called into the meeting at the outset and spoke briefly to the group, though he didnât get into any substantive issues, sources in the room told us.
â Andrew Desiderio and Laura Weiss
Join Punchbowl News Texts! Get the latest news directly from the Capitol to your phone. Only the info you need when you need it. For Premium members only â sign up today!
PRESENTED BY WALMART
Walmartâs comprehensive benefits â skills training, parental leave, healthcare on day one, tuition coverage, and more â are available to all associates.
Walmartâs $1 billion investment in career-driven training and development helps associates grow their careers, so they can continue to build better lives for themselves and their families. Learn why it pays to work at Walmart.
The Vault: Hill, Palmer ask Yellen to shield US from EU sustainability mandate
First in The Vault: GOP Reps. French Hill (Ark.) and Gary Palmer (Ala.) urged Treasury Secretary Janet Yellen to âprotectâ U.S. firms from European sustainability directives, according to a letter first obtained by Punchbowl News.
Itâs not the first time Republican lawmakers have criticized a corporate sustainability directive finalized by the European Union this summer. But in the months since the directive was finalized, Yellen has acknowledged concerns over how the policy could affect U.S. companies. But Hill and Palmer told Yellen the Biden administration âhas failed to act.â
{if (profile.vars.Memberful_punchbowlnews_Plan_Premium_Policy_The_Vault_I_103061 == true || profile.vars.Memberful_punchbowlnews_Plan_Premium_Policy_The_Vault_II_103417 == true || profile.vars.Memberful_punchbowlnews_Plan_Premium_Policy_The_Vault_III_103418 == true || profile.vars.Memberful_punchbowlnews_Plan_Premium_Policy_The_Vault_14_Day_Trial_103643 == true || profile.vars.Memberful_punchbowlnews_Plan_Punchbowl_News_Premium_Portal_The_Vault_Tech_121727 == true || profile.vars.Memberful_punchbowlnews_Plan_Punchbowl_News_Premium_Portal_The_Vault_Tech_121821 == true || profile.vars.Memberful_punchbowlnews_Plan_Punchbowl_News_Premium_Portal_Premium_Policy_The_Vault_121726 == true || profile.vars.Memberful_punchbowlnews_Plan_Punchbowl_News_Premium_Portal_Premium_Policy_The_Vault_121823 == true || profile.vars.Memberful_punchbowlnews_All_Access_Pass == true)}
Hill and Palmer told Yellen in the letter dated today that the EUâs corporate sustainability due diligence direction would âimpose enormous ESG regulations well-beyond European borders and threaten the competitiveness of U.S. markets and the sovereignty of U.S. law.â
âWe reiterate our view that the extraterritorial application of EU requirements is a violation of international norms and an infringement on U.S. sovereignty,â the lawmakers wrote.
Yellen first acknowledged the risks of these E.U. supply chain mandates during a House Financial Services Committee hearing in June, telling lawmakers that U.S. officials were worried about the potential for ânegative, unintended consequences.â
The Republicans pointed to an unlikely source to suggest the E.U. hadnât done enough to acknowledge âvocal oppositionâ to the plan â the Securities and Exchange Commission. Hill and Palmer noted that the SEC revised its own approach to climate disclosures in part by dropping the requirement that firms calculate carbon emissions up and down their supply chains.
âIf the Biden-Harris Administration was forced to acknowledge that such a requirement was not appropriate for U.S. companies under U.S. regulation, then it should certainly oppose the direct application of similar requirements on U.S. businesses from the EU,â the lawmakers wrote.
We donât expect this to be a top priority for the lame-duck Biden administration. But take this as a preview of how a Republican-run Treasury Department may change how the United States contends with international regulation abroad, particularly on climate initiatives.
Read the letter here.
â Brendan Pedersen
{else}
Youâre seeing a preview of our Premium financial services and tax policy coverage. Read the full story by subscribing here.
{/if}
PUNCHBOWL NEWS EVENTS
Curtis, Slotkin talk bipartisanship and priorities going into Senate
As the 118th Congress winds down, two Problem Solvers Caucus members are preparing to move up to the Senate. Sens.-elect John Curtis (R-Utah) and Elissa Slotkin (D-Mich.) joined us Tuesday morning to discuss how they intend to approach bipartisanship in a Republican Senate with tight margins.
Trump nominees: Hill watchers are keeping a close eye on Curtis, who many view as a likely swing vote on some of President-elect Donald Trumpâs more controversial Cabinet nominations.
Curtis said heâd let the process play out, adding that some of those nominations will resolve themselves before itâs time to vote, citing former Rep. Matt Gaetzâs (R-Fla.) attorney general nomination that imploded quickly.
âI think whatâs easy to forget is there is an amazing process in place and this process evolves over time, and thereâs a lot of look into peopleâs backgrounds and things theyâve said,â Curtis said. âSo Iâm trying to be very disciplined and let the process work.â
Bipartisanship: Working across the aisle can be an uphill battle, Slotkin said. The Michigan Democrat also said itâs hard to get attention for cooperating with the other party.
âBipartisanship is like deeply unsexy to people,â Slotkin quipped.
Slotkin said she asked at a Senate orientation session if there were bipartisan caucuses in the upper chamber. Incumbent senators told her that since there are so few of them, there are more opportunities to work together.
âWe can be normal,â Slotkin said. âWe just need to be more deliberate, because I think the country needs to see it.â
Slotkin and Curtis are hopeful their parties will work together on some key areas, including rural broadband, prescription drug price reform and helping veterans.
Permitting reform: Both lawmakers agreed that the United Statesâ protracted and complicated process for greenlighting energy and infrastructure projects needs to be urgently overhauled.
Curtis in particular said he plans to spend a lot of time focusing on the issue in the Senate.
âThe low-hanging fruit is permitting reform and everybodyâs talking about it. Everybody knows how important it is,â Curtis said. âIf you want to talk IRA, a lot of those dollars are locked down because of permitting reform.â
Bringing civility to Congress: Slotkin said for Congress to work better together, it needs to reflect the values that are expected of children.
âI think that the most important thing is for people to emulate the behavior that we teach our kids in school, which is âtreat each other with respect, even when you disagree,ââ Slotkin said. âDo that in public, do that in private, do that on social media.â
Ending on a hopeful note, Curtis said, âThe more time we spend together, the more we get along, and the more we find solutions.â
Fireside chat: Following our bipartisan conversation with Curtis and Slotkin, Sam Mar, a senior adviser at Arnold Ventures, joined us for a fireside chat on bipartisanship.
Mar agreed with the lawmakers that permitting reform is an important priority that deserves bipartisan attention.
âI think all of us can agree that we as a country, especially when it comes to energy⊠when it comes to building infrastructure, we need to get better at building things on time and on budget,â Mar said.
Mar also said heâs excited about the prospect of making government more efficient. He also echoed the need for Congress to work together with a simple call: âBe bipartisan.â
Mar added, âYou need friends on both sides of the aisle because in order for any policy solution to endure those swings of power, you really need to find friends on both sides of the aisle.â
â Robert OâShaughnessy
PRESENTED BY WALMART
Paid parental leave, healthcare and other benefits are helping Walmart associates like Johnny build families and careers. Learn more.
⊠AND THEREâS MORE
House approps. Rep. Mike Levin (D-Calif.) is seeking a spot on the House Appropriations Committee. Levin, a Frontliner who just won a competitive reelection race, made his case in this letter to the Democratic Steering and Policy Committee.
Great primer. If you love the House like we do, you will love this podcast. Brendan Buck and Annalyse Keller interview Tom Wickham, the former House parliamentarian. Wick, as he is known to many, is the foremost expert on the rules and procedures of the House of Representatives. They talk about reconciliation â Wick thinks that it may be possible for Republicans to include âmore dollarsâ for the border wall, technology and border personnel in the reconciliation bill. Listen to the pod.
â Jake Sherman and Max Cohen
You Mightâve Missed
CLIPS
NYT
âBiden Turns to an Unlikely Ally to Help Protect His Legacy: Republicansâ
â Zolan Kanno-Youngs and Madeleine Ngo
WaPo
âBiden moves to end subminimum wages for people with disabilitiesâ
â Jacqueline Alemany
Bloomberg
âUS Job Openings Pick Up to 7.7 Million as Labor Demand Steadiesâ
â Jarrell Dillard
AP
âSouth Korean parliament votes to defy president by lifting his declaration of martial lawâ
â Kim Tong-Hyung in Seoul
Politico
âKen Martin, in DNC bid, calls for âmassive narrative and branding projectâ for Democratsâ
â Elena Schneider
PRESENTED BY WALMART
Editorial photos provided by Getty Images. Political ads courtesy of AdImpact.
The Canvass Year-End Report
And what senior aides and downtown figures believe will happen in 2023.
Check it outEvery single issue of Punchbowl News published, all in one place
Visit the archiveBy transforming bill tracking and floor action with expert analysis from the Punchbowl News team, The Portal delivers concise, curated insights that cut through the noise, helping policy leaders win. Request a demo today.