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NEW DATA: Oxford Economics finds Durbin-Marshall Credit Card Mandates would hurt local economies, costing $227 billion and 156,000 jobs across the country.
![]() PRESENTED BY![]() BY JOHN BRESNAHAN, ANNA PALMER AND JAKE SHERMAN THE TOP![]() Happy Tuesday morning, and welcome back to action, D.C. We wanted to take a beat to zoom in on the Senate and lay out what to expect this week. Senate Majority Leader Chuck Schumer – with strong backing from President Joe Biden – is moving toward a showdown with Republicans over voting rights and the future of the filibuster. Here’s what we know so far about the floor schedule: The Senate will come in at noon today and no roll call votes are expected. Following some remarks by the two leaders, Schumer will move forward with the motion to proceed to the House voting rights package, which includes the Freedom to Vote Act and the John Lewis Voting Rights Advancement Act. Leadership expects this motion will be done under a unanimous consent agreement, which is why there are no votes scheduled. The earliest a vote is expected on voting rights is Wednesday, but Schumer will update senators on timing later in the day. Senators will be on the floor today and tomorrow to debate the voting-rights proposal. The Senate Democratic Caucus will meet in person at 5 p.m. in the Hart Senate Office Buildings. We expect some news after that session. Beyond that, it’s unclear what Schumer is planning. He’s promised a cloture vote on the voting-rights bill, and if that fails – it will thanks to unified GOP opposition to the legislation – then Schumer has vowed to hold a vote on changing Senate rules on the filibuster. What changes he will suggest are unclear. Schumer could move to eliminate the filibuster outright or modify the process to make filibustering more difficult. Schumer has options. However, Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) have already announced they won’t agree to get rid of the filibuster or the 60-vote threshold to cut off debate. With those two lining up with the 50 Senate Republicans, it’s a fight that Schumer can’t win. What’s at stake: We understand why Schumer is going in this direction. We get that the base is itching to bash Manchin and Sinema for their stance on the filibuster. But the Democratic leadership is setting up a week during which the main storyline ends up being the split inside the Democratic Caucus. How does another week of Democrat-on-Democrat infighting help … Democrats? Senate Republicans are unified in opposing voting rights legislation.They’re the ones blocking it. Fighting among Democrats over the filibuster isn’t making the GOP pay a political price at all. So we’re very interested to see how Schumer and Biden get out of the situation they now find themselves in. We know you are too. The crisis in Ukraine Sen. Chris Murphy (D-Conn.) held a conference call with reporters on Monday about the bipartisan codel to Kyiv. Murphy said the Russian invasion threat is “significant” and “immediate.” While Murphy doesn’t believe Russian President Vladimir Putin has made up his mind over whether to invade Ukraine, he added “We know that this is a moment for Ukraine to be ready for the worst.” Murphy said “Congress will be united” on punitive threats if Russia does invade Ukraine. Interestingly, Murphy said he “raised concerns” with Ukrainian government officials about whether this is the right moment to pursue legal action – including possible treason charges – against former President Petro Poroshenko, which Murphy said would divide the country at a time it should be united. Poroshenko returned to Ukraine on Monday. “I certainly raised concerns today about whether or not former President Poroshenko is paying a price for his legal misdeeds or political misdeeds,” Murphy told reporters. Murphy said if Russia invades Ukraine, it would be the most significant disruption of the post Cold War political order in Europe since that conflict ended 30 years ago. And if Putin gets away with it, Murphy warned that Russia may consider invading the Baltics or Poland next. 5G and flight delays Keep a very close eye on this. U.S. airlines are saying they will have to cancel a significant amount of flights if the Biden administration doesn’t delay the deployment of 5G cellular technology within two miles of airports. Read the WSJ. Reminder: We’re one week away from our first editorial event of the year! Join us next Tuesday, Jan. 25 at 9:15 a.m. for our virtual conversation with Sen. Todd Young (R-Ind.) on American competitiveness. RSVP here! PRESENTED BY PHRMA Did you know that PBMs, hospitals, the government, insurers, and others received a larger share of total spending on medicines than biopharmaceutical companies? That’s right, more than half of spending on brand medicines goes to someone who doesn’t make them. Let’s fix the system the right way and ensure more of the savings go to patients, not middlemen. Read the new report. BEHIND THE HEARING Thursday markup in Senate Judiciary panel sets off alarm bells for Big Tech ![]() The Senate Judiciary Committee has scheduled a Thursday markup of the American Innovation and Choice Online Act offered by Sens. Amy Klobuchar (D-Minn.) and Chuck Grassley (R-Iowa). And with that clock ticking, the lobbying effort by Big Tech companies in opposition to the measure is picking up dramatically. There’s an interesting bipartisan convergence happening at the moment that’s worth keeping an eye on. Lawmakers on the left and right, for different reasons, are lining up to impose new antitrust restrictions on the biggest of the U.S tech giants, and there’s a chance it could happen. It’s not guaranteed, but there are some interesting political crosscurrents at the moment. Apple CEO Tim Cook and Alphabet CEO Sundar Pichai have been calling and meeting with senators on the Judiciary panel, urging them to oppose this new legislation, according to multiple Senate aides. The U.S. Chamber of Commerce has circulated a letter urging lawmakers to vote no. A number of the major tech players – Microsoft, Google, Twitter, Apple, Spotify and Amazon – have all disclosed that they’re lobbying on the proposal. This Klobuchar-Grassley bill is a modified companion to a House bill passed last year. The legislation – which covers companies with a market capitalization of more than $550 billion and have 50 million monthly online users or 100,000 businesses – only applies to Apple, Amazon, Google, Facebook and Microsoft. These companies would be barred from “favoring their own products or services, disadvantaging rivals, or discriminating among businesses that use their platforms in a manner that would materially harm competition on the platform.” Other provisions would prohibit “requiring a business to buy a dominant platform’s goods or services for preferred placement on its platform” or using its own data against a business in order to gain an advantage. In addition to antitrust actions by the Justice Department and other federal agencies over alleged violations, the CEOs and other executives of “repeat offenders” can be made to repay their annual salaries. And state attorneys general will be allowed to bring cases as well under the proposal. Beyond Klobuchar and Grassley, the legislation is co-sponsored by Senate Majority Whip Dick Durbin, the chair of the Judiciary Committee, and six other senators on the panel. Thus the odds of it getting approved by Judiciary are very good. Whether it can get through the full Senate is another matter. It’s worth noting that the House Judiciary Committee’s version of this legislation was approved more than six months ago but has never made it to the floor. Yet 2022 is an election year with control of both chambers up for grabs. Lawmakers in each party are scrambling for any political advantage they can get. Beating up Big Tech companies could play well on both sides of the aisle. And there will be lots of floor time available this year in the Senate, at least based on what we can see now. Of course, Senate Majority Leader Chuck Schumer controls the floor schedule. The Judiciary Committee also announced Monday that it will mark up a bill by Sens. Richard Blumenthal (D-Conn.) and Marsha Blackburn (R-Tenn.) designed to lessen Apple and Google’s control over online apps. That markup is set for Thursday as well, but under Judiciary Committee rules, action on the proposal is very likely to be delayed until the next business meeting of the panel. ![]() → Rep. Marjorie Taylor Greene’s (R-Ga.) primary opponent, Jennifer Strahan, bills herself as a “no-nonsense conservative” and alternative to the hugely controversial lawmaker. And now, big D.C. names are lining up behind Strahan for a fundraiser Jan. 25 at the Alpine Group in D.C. Among the hosts: Bobbie Kilberg, the president of the Northern Virginia Technology Council and a well-known GOP fundraiser, Rob Chamberlin of Elevate, Julie Conway of VIEW PAC, Erskine Wells of BGR Group and Missy Edward of Missy Edwards Strategies. ![]() Of course, MTG raised $6 million through the end of September and has $3.2 million in the bank, putting her in the top tier of fundraisers in either party. → Rep. Brian Mast (R-Fla.), a solid House GOP fundraiser, pulled in $701,119 and has $2.3 million on hand. Mast’s victory committee pulled in $229,000, including $36,500 from Ike and Laura Perlmutter of Marvel Entertainment fame. → Former Speaker Paul Ryan gave $25,000 from his campaign account to HealthNet of Rock County, which provides “comprehensive health services to the underserved.” Prosperity Action, Ryan’s PAC, gave $125,000 to the American Idea Foundation, his non-profit. He also kicked in $10,000 to Glenn Youngkin’s campaign. Ryan doled out a bunch of political contributions, including $1,500 to Lanhee Chen’s campaign for California comptroller. → The Defending Main Street super PAC raised $650,449. EARN International Union of Operating Engineers gave $250,000; Air Line Pilots Association International Political Action Committee gave $150,000; Letter Carrier Political Fund gave $125,000; and United Association Political Issues Fund gave $125,000. → Opportunity Wisconsin, a progressive group, is up with a new ad in the Green Bay-Appleton media market suggesting that Sen. Ron Johnson (R-Wis.) is blocking efforts to lower prescription drug prices. Thanks to AdImpact. → Pennsylvania Patriots PAC, a new anti Mehmet Oz entity, is up with another spot criticizing the TV doctor turned GOP candidate for the Senate. This time, the group brings up Oz’s support for and promotion of Obamacare. The spot is currently running in Philadelphia. Thanks again to AdImpact. PRESENTED BY PHRMA According to a new report, more than half of every dollar spent on brand medicines goes to someone who doesn’t make them. FRONTS ![]() ![]() MOMENTS 10:15 a.m.: President Joe Biden will get his intelligence briefing. 11 a.m.: House Majority Leader Steny Hoyer will hold his weekly pen and pad. 11:15 a.m.: Biden and Vice President Kamala Harris will get their economic briefing. Noon: Jen Psaki and Mitch Landrieu will brief reporters. 6:45 p.m.: Speaker Nancy Pelosi will hold a ceremonial swearing in for newly elected Rep. Sheila Cherfilus-McCormick (D-Fla.). Cherfilus-McCormick was elected to replace the late Rep. Alcee Hastings (D-Fla.). After the swearing in, the House breakdown will be 222-212. The only open seat will be former California GOP Rep. Devin Nunes’ Central Valley seat. CLIP FILE NYT → “It’s Not ‘Woke’ for Businesses to Think Beyond Profit, BlackRock Chief Says,” by Andrew Ross Sorkin and Michael J. de la Merced → “Russia Thins Out Its Embassy in Ukraine, a Possible Clue to Putin’s Next Move,” by Michael Schwirtz and David Sanger in Kyiv WaPo → “Swing-district Democrats in need of a midterm reboot push leadership to break up BBB,” by Marianna Sotomayor WSJ → “Giant Stock Swings Kick Off 2022,” by Gunjan Banerji and Peter Santilli AP → “Sinema, Manchin slammed as Senate begins voting bill debate,” by Lisa Mascaro Politico → “How a GOP majority in Congress might handle Biden in 2023,” by Olivia Beavers and Burgess Everett → “Dems stare down another failure to deliver for their base,” by Marianne Levine, Nancy Vu and Sarah Ferris USA Today → "How a wedding photographer and a donut shop owner got millions in a COVID testing operation now under investigation,” by Grace Hauck PRESENTED BY PHRMA Did you know more than half of every dollar spent on medicines goes to someone who doesn’t make them? There’s a long line of middlemen, like PBMs and insurers, collecting a significant portion of what you pay for medicine. The share of total spending for brand medicines received by the supply chain and other stakeholders increased from 33% in 2013 to 50.5% in 2020. Learn more. ![]() Enjoying Punchbowl News AM? ![]() Subscribe 10 friends with your unique link (below) and get a Punchbowl News hat! Your referral link is: Or share via You currently have: 0 referrals
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NEW DATA: Oxford Economics finds Durbin-Marshall Credit Card Mandates would hurt local economies, costing $227 billion and 156,000 jobs across the country.