OVERNIGHT MONEY: Republicans regroup, plan policy strategy during retreat

By Vicki Needham, Bernie Becker, Peter Schroeder and Erik Wasson - 01/19/12 07:00 PM ET

FRIDAY'S BIG STORY:

Putting some pep in the rally: House Republicans have retreated, so to speak, to Baltimore for the next few days to regroup and formulate their plan of attack in anticipation of a compact legislative year replete with partisan battles and, probably, devoid of much compromise.

Republicans, who left the Capitol on Thursday afternoon in buses, are scheduled to hold a slew of closed-door policy meetings through Saturday that will focus on hot topics such as the budget and the economy.

The House GOP is smarting from some recent infighting and divisions over how policy issues were handled, and will attempt to unify their forces for the charge into the second session and the 2012 elections, their second in the majority.

On Friday, Reps. Kevin Brady (R-Texas), chairman of the House Ways and Means subcommittee on Trade, Budget Committee Chairman Paul Ryan (R-Wis.) and Tom Price (R-Ga.), chairman of the Republican Policy Committee, are expected to lead discussion on jobs and the economy, budget and spending and healthcare issues, including entitlements, according to news reports.

The talks come only a few days ahead of President Obama's State of the Union address, scheduled for Tuesday.

Maybe former Redskins coach Joe Gibbs, who is scheduled to talk to lawmakers, can relay a few suggestions on teamwork and how to bring home a victory.

WHAT ELSE TO WATCH FOR

Talking trade: U.S. Trade Representative Ron Kirk will headline the U.S. Conference of Mayors meeting here in D.C., likely filling in the city chiefs about ongoing trade negotiations.

There's time for taxes, too: Tax Analysts and American University's Kogod Tax Center will hold a briefing on taxes and how they affect small businesses with several local tax folks, including Don Williamson, professor of taxation and executive director of the Kogod Tax Center, and John Buckley, professor of Georgetown University Law Center's Graduate Tax Program and former chief democratic tax counsel for the House Ways and Means Committee.

Don't forget about the euro: The Brookings Institution brings in some experts to chat about stabilizing the euro and Europe's precarious financial future — one that weighs heavily on the U.S. economy — with Guido Westerwelle, federal minister for foreign affairs with the Federal Republic of Germany. Westerwelle has a busy day ahead — he's scheduled to meet with Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton.

BREAKING THURSDAY

Tourism, jobs and elections, oh my: President Obama touted speedier visa processing to boost travel from abroad in a state where tourism reigns and Obama's hopes for a second term could well rest. The president made a swing through Florida and its iconic theme park, Walt Disney World, to outline his plans to promote increased international tourism to the Sunshine State and the United States in general, while also grabbing a sliver of the spotlight ahead of the pending arrival of Republicans for their Jan. 31 presidential primary.

LOOSE CHANGE

Sorry, we're closed: The Treasury Department on Thursday designated a Guatemalan woman and seven others as drug traffickers, which prohibits all Americans from having business dealings with them.

According to Treasury's Office of Foreign Assets Control, Marllory Dadiana Chacon Rossell runs a drug and money-laundering ring with operations in Guatemala, Honduras and Panama, and is responsible for thousands of kilograms of cocaine that has entered the United States.

"Marllory Chacon’s drug trafficking activities and her ties to the Mexican drug cartels make her a critical figure in the narcotics trade," Adam Szubin, OFAC's director, said in a statement.

ECONOMIC INDICATORS

Existing Home Sales: The National Association of Realtors releases figures for existing homes sales in December.

WHAT YOU MIGHT HAVE MISSED

— Home construction falls as market's recovery remains sluggish

— Heather Podesta + Partners nabs veteran Senate tax staffer

— Senators look to advise Treasury on Iran sanctions

— Poll: Americans no fans of size of government, corporations

— House tax panel’s staff director departs

— Biz groups: Mandate to compare pay of CEOs with employees 'unnecessary'

— Gingrich receives $100K congressional pension

— Mitch Daniels to deliver GOP response to Obama's State of the Union address

— Jobless benefit claims plunge to lowest level in nearly four years