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PRESENTED BY
THE TOP
Happy Friday morning. There are four days until Election Day.
In the final sprint to Nov. 8, House Minority Leader Kevin McCarthy will have a familiar face traveling with him – Newt Gingrich.
The 79-former speaker will be accompanying McCarthy for three days over the weekend, sources told us. Gingrich will be with McCarthy as he travels from South Carolina to Florida to the Texas-Mexico border and back to Norfolk, Va., the sources said.
We scooped on Wednesday evening that Gingrich was fundraising with McCarthy at Rep. Vern Buchanan’s Longboat Key, Fla., home Saturday night.
But Gingrich’s ties to McCarthy run deeper than that. Gingrich acts as informal advisor to the minority leader. The Georgia Republican, who served 20 years in the House before stepping down after the 1998 elections, has been spotted going in and out of McCarthy’s second-floor in the Capitol or speaking to members at McCarthy’s request over the past few years.
McCarthy has known Gingrich since the California Republican served as an aide to former Rep. Bill Thomas (Calif.). McCarthy also interacted with Gingrich during his tenure as minority leader in the California Assembly prior to winning a House seat in 2006.
Gingrich is a polarizing figure, to say the least, including among his former colleagues. While widely acknowledged for his intellectual ability, Gingrich has been criticized for his long history of rhetorical excesses, ethical lapses and hyper-partisanship. There may be no group on the left that Gingrich hasn’t offended during his decades in politics. And as speaker, Gingrich permanmently changed the way the body operates, although not always for the better.
Yet Gingrich also has something that’s very valuable to McCarthy right now — experience. Gingrich is only one of two GOP lawmakers during the last 70 years to lead House Republicans from the minority to the majority (former Speaker John Boehner being the other). He knows what it’s like to become a national figure who’s had to face down a president from the other party – and fail.
In addition, Gingrich oversaw a rambunctious majority filled with anti-Washington populists. And he ultimately failed at that too.
So there’s lots of lessons from Gingrich’s tenure as speaker that McCarthy can profit from right now.
McCarthy, 57 and on the brink of realizing a decade-long dream of becoming speaker, frequently travels with other members of the House Republican Conference. He thrives off being with other people perhaps more than any pol we’ve ever seen.
During these final weeks of the cycle, McCarthy has been traveling incessantly, helping to raise tens of millions of dollars. This money advantage is a big part of why Republicans are likely to win, and it’s helped cement his status with GOP colleagues.
CLF goes in for another $2.5 million across the country
Congressional Leadership Fund, the Kevin McCarthy-linked super PAC, is splashing another $2.5 million across the country, including in a district where President Joe Biden will campaign today.
CLF will drop $300,000 in California’s 49th District to boost Brian Maryott against Rep. Mike Levin (D-Calif.). Biden won this seat by 11 points in 2020. CLF has spent $6.2 million in this San Diego-area seat.
Other additions:
→ | They are adding $1.2 million to its investment in Colin Schmitt’s race against Rep. Pat Ryan (D-N.Y.). They’ve spent $3.3 million here. |
→ | The toss-up race in Texas’ 34th District between Rep. Vicente Gonzalez (D-Texas) and Rep. Mayra Flores (R-Texas) will see another $500,000 in spending from CLF. That’s a total of $5.4 million in this member-on-member contest. |
→ | Esther Joy King, who is running for the seat being vacated by Rep. Cheri Bustos (D-Ill.), will get another $300,000. She is running against Democrat Eric Sorensen. CLF has shelled out $6.1 million here. |
→ | CLF is putting another $100,000 in against Rep. Katie Porter (D-Calif.) in the Los Angeles media market. Porter is running against Scott Baugh. CLF is up to $7.25 million spent here. |
→ | Allan Fung, the Rhode Island Republican running to succeed Rep. Jim Langevin (D-R.I.), will be the beneficiary of another $150,000 from CLF. Fung is going up against Democrat Seth Magaziner. CLF has shelled out $3.8 million in this race. |
→ | George Logan, who wants to be the first Republican to represent Connecticut in Congress since 2008, is getting another $75,000 from CLF for his race against Rep. Jahana Hayes (D-Conn.). This Connecticut seat has seen $4.6 million in spending from CLF. |
Also: Employment numbers will come out this morning at 8:30 a.m.
– John Bresnahan and Jake Sherman
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LAME DUCK WATCH
Inside the push to (finally) reform marijuana banking laws
We wanted to spend some time unpacking one of the more interesting legislative items that is likely to be in the mix during the lame-duck session — the Secure and Fair Enforcement Banking Act.
In its current form, SAFE Banking would provide a “safe harbor” for regulated financial institutions to work with legal cannabis companies. For years now, SAFE Banking’s chief obstacle has been getting through the Senate. More than ever before, it looks like that may change after Nov. 8.
Still, the outlook for cannabis banking has been complicated by competing proposals to widen the bill’s scope – collectively referred to as “SAFE-plus.”
Senate Majority Leader Chuck Schumer (D-N.Y.) has taken on the leading role in discussions with Republicans around just how much broader the bill can get. We’re told his efforts have included personal outreach and one-on-one meetings with his GOP colleagues.
If the New York Democrat overplays his hand and adds too much to the bill, Republicans will likely bolt. But a bill that’s too narrow will invite complaints from Schumer’s left flank.
Sen. Cory Booker (D-N.J.), who has previously declared that he’s strongly opposed to legislation that only helps the financial services sector, told us this week that he’s feeling “encouraged by the negotiations we’ve seen around SAFE.”
More from Booker, who sounds bullish on “SAFE-plus”:
“I hope to see a final bill soon that would not only allow small and diverse cannabis businesses access to the U.S. banking system, but also expand and support expungement programs in states that have legalized cannabis to address some of the harms our failed marijuana policies have done to marginalized communities.”
Here are some key takeaways from our discussions with sources closely tracking the process:
→ | Lawmakers involved in the talks have gone silent – and that’s a good sign. |
There’s a significant amount of secrecy surrounding the current state of play between Schumer and GOP senators. One of the key figures is Sen. Steve Daines (R-Mont.) But every Republican vote that Schumer secures will help overcome an expected filibuster.
Staffers close to the talks have been hesitant to share basic details about any legislative framework or drafts, which we’re told hasn’t been finalized. Yet the silence means they’re trying to get a deal.
→ | Election results will be important – but the GOP has significant leverage regardless. |
Nine Senate Republicans have already cosponsored the SAFE Banking Act, making it a leading contender for consideration during the lame-duck session.
We’re told there are more Senate Republicans who back the basic tenets of cannabis banking. But again, we’re talking about the narrow version of SAFE Banking that has passed the House. An overly broad bill risks losing that support.
Could a weaker-than-expected performance from the GOP strengthen the position of progressives who want a cannabis reform bill to be expanded? Perhaps on the margins. But SAFE Banking is going to need 60 votes regardless of whether it passes as a standalone measure or gets added to either the defense authorization or omnibus spending packages.
→ | Not even bipartisan add-ons are a safe bet for SAFE Banking. |
There are several bills that could be included in a “SAFE-plus” Banking Act. Two bipartisan ones are the strongest contenders –the Harnessing Opportunities by Pursuing Expungement (HOPE) Act, and the Capital Lending and Investment for Marijuana Businesses (CLIMB) Act. Lots of acronyms here, yes.
But we don’t know if either proposal could survive Senate GOP scrutiny, particularly if there’s a “red wave” on Election Day.
The HOPE Act is a bipartisan collaboration between Reps. Alexandria Ocasio-Cortez (D-N.Y.) and David Joyce (R-Ohio.) It would allow states to access federal funds to pay for the expungement of the criminal records for non-violent cannabis offenders.
The CLIMB Act is another bill with some bipartisan support that’s more business-focused. It would clear any “public or private” sources of capital to invest in “legitimate” cannabis firms. It would also amend the Securities and Exchange Act to allow national stock exchanges to list cannabis companies.
These two bills represent the rough political calculus for supporters of “SAFE-plus” – one bipartisan bill for restorative justice, a Democratic priority, and one bipartisan bill to expand business support for the sector, a potential Republican priority.
– Brendan Pedersen and John Bresnahan
LEADER LOOK
McCarthy visits top Hasidic leader in an attempt to defeat DCCC chair
House Minority Leader Kevin McCarthy visited the powerful Skverer Rebbe, a leading ultra-orthodox Jewish leader, in an attempt to convince him to endorse Republican Mike Lawler in his race against DCCC Chair Sean Patrick Maloney.
Understand this: The ultra-orthodox communities of upstate New York and New York City follow the word of their rabbinical leaders closely. New York politicians such as Senate Majority Leader Chuck Schumer keep a close alliance with the various Hasidic sects in the state, such as the Satmar and Skverers.
Ultra-orthodox Jews backed former President Donald Trump in large numbers in 2016 and 2020. But they have also backed Democrats including Schumer and former Gov. Andrew Cuomo.
These sects tend to vote in a bloc. President Joe Biden called the leaders of the Skverer and Vizhnitzer sects – both based in Rockland County – last week in an attempt to convince them to support Maloney. The Skverers endorsed Maloney.
But McCarthy met the Skverer rabbi with the intention of getting him to reverse his endorsement. A source close to the matter told us that Republicans believe they can get the rabbi to change his backing – even as late as Monday or Election Day.
Yeshiva World News, which covers the ultra-Orthodox community, has details – and a video of McCarthy arriving to meet the rabbi:
In the meeting, McCarthy reportedly asked the rebbe to officially endorse Lawler, citing former President Trump’s support for his community and noting that Lawler in Congress with himself as Speaker would be greatly beneficial to the Skver community. …
The meeting with McCarthy comes just a day after a flyer ostensibly endorsed by the Skverer Rebbe urged chasidim to vote for both Gov. Kathy Hochul and Rep. Maloney.
Skver Insiders tell YWN that the flyer endorsing Hochul and Maloney was not a final decision, and the poster was leaked before being approved by the rebbe.
– Jake Sherman
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THE CAMPAIGN
→ | New: North Carolina Democratic Senate nominee Cheri Beasley’s closing ad says the Tarheel State’s residents can’t get ahead because “politicians like Congressman Ted Budd aren’t focused on us — they’re helping themselves.” |
Rep. Ted Budd (R-N.C.) holds a four-point lead over Beasley, according to FiveThirtyEight’s polling average of the race. Beasley has mounted a strong campaign and Senate Majority PAC, the Democratic super PAC, has poured money into the race down the home stretch.
→ | New: The Congressional Hispanic Caucus BOLD PAC is transferring a six-figure sum to the group’s independent expenditure arm to boost Latino candidates in the final stages of the election cycle. The funds will go toward boosting vulnerable Sen. Catherine Cortez Masto (D-Nev.), as well as Frontline Reps. Mike Levin (D-Calif.), Henry Cuellar (D-Texas), Teresa Leger Fernández (D-N.M.) and Vicente Gonzalez (D-Texas). |
BOLD PAC is also supporting the following House Democratic challengers: Andrea Salinas, Rudy Salas, Gabe Vasquez and Yadira Caraveo.
Music superstar Lin-Manuel Miranda is featured in a new YouTube video, as part of BOLD PAC’s “Ya Tu Sabes” series, encouraging Latinos to vote for Democrats.
“Mi gente, this midterm election is super important,” Miranda says. “Reproductive rights, job opportunities, access to affordable health care and so much more is on the line.”
— Max Cohen
FRONTS
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MOMENTS
All times eastern
2:45 p.m.: President Joe Biden will talk about the CHIPS bill in San Diego.
4:15 p.m.: Biden will leave San Diego for Chicago. Karine Jean-Pierre will gaggle on board.
5:15 p.m.: Vice President Kamala Harris will participate in virtual events for Sen. Raphael Warnock (D-Ga.); Deidre DeJear, who is running for governor of Iowa; and Lina Hidalgo, who is running for Harris County Judge in Texas.
8:05 p.m.: Biden will arrive in Chicago and participate in a political event.
CLIP FILE
NYT
→ | “At Campaign’s End, Democrats See Limits of Focus on Abortion,” by Lisa Lerer and Elizabeth Dias |
→ | “On Trail in New Mexico, Biden Pitches Economy to a Skeptical Public,” by Peter Baker in Albuquerque, N.M. |
→ | “Biden and Netanyahu Gear Up for a Complicated New Era,” by Mike Shear and David Sanger |
WaPo
→ | “Democrats fear midterm drubbing as party leaders rush to defend blue seats,” by Toluse Olorunnipa |
WSJ
→ | “Layoffs Hit Tech Sector With Force as Amazon, Lyft Warn of Economic Downturn,” by Sebastian Herrera, Preetika Rana and Emily Glazer |
Bloomberg
→ | “Oprah Winfrey Endorses John Fetterman Over Former Protege Dr. Oz,” by Gregory Korte and John Harney |
→ | “Twitter Sued for Mass Layoffs by Musk Without Enough Notice,” by Josh Eidelson |
AP
→ | “US senators in Ukraine promise continued aid ahead of winter,” by Sam Mednick in Kyiv |
Politico
→ | “Hawley aims to reshape Senate GOP with Vance and Masters,” by Burgess Everett |
Detroit News
→ | “Hotly contested Michigan races for Congress help shatter spending record,” by Melissa Nann Burke and Riley Beggin |
Sacramento Bee
→ | “Democrat and Republican candidates promise to reduce gas prices. Can they deliver?” by David Lightman |
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Editorial photos provided by Getty Images. Political ads courtesy of AdImpact.
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