By Kevin Cirilli - 06/10/14 06:58 PM EDT
TOMORROW STARTS TONIGHT – FIREWORKS AHEAD FOR DONOVAN’s CONFIRMATION HEARING.
The Senate will likely confirm Shaun Donovan to be director of the Office of Management and Budget. But the outgoing-secretary of Housing and Urban Development will first have to square off against Senate Budget committee members at his 2 p.m. Wednesday confirmation hearing.
Sessions spokesman Stephen Miller tells OF on Sessions’s line of attack: “It will be similar to the themes expressed in his opposition statement to Burwell’s HHS nomination.”
UPDATE: Miller adds: “Mr. Donovan will get a fair hearing. Sessions is likely to explore with the nominee some of the concerns he raised about chronic OMB mismanagement during the recent Burwell confirmation process. He will be looking to see if Mr. Donovan can bring much-needed independence and discipline to OMB during this period of great financial difficulty.”
--FLASHBACK: Sessions sparring with Burwell in March at her confirmation hearing. http://bit.ly/1l5WfQk.
NOTABLE – FIRST LOOK: CANTOR TO SPEAK AT NAM SUMMIT. House Majority Leader Eric Cantor (R-Va.) will address the National Association of Manufacturers (NAM) tomorrow morning at 8:15 a.m., where he’s set to take questions after prepared remarks.
Senate Minority Leader Mitch McConnell (R-Ky.) will speak at 11:45 a.m. in a closed-press panel.
So, will Ex-Im come up?
“It wouldn’t shock me,” NAM senior director Matt Lavoie told OF. “That is a huge part of the more than 200 lobbying visits we’re doing over the next two days. We’re moving at 110-miles-per-hour on Ex-Im reauthorization.”
THIS IS OVERNIGHT FINANCE, where we’re always moving at 110-miles-per hour. No time to waste, it’s not even hump-day. THANK YOU for reading. Please click here to sign up for the newsletter. Tweet: @kevcirilli. And email: email@example.com. Back to work...
QUOTABLE: GOP REPS: BOEHNER WON’T STAY. Reps. Raul Labrador (R-Idaho) and Matt Salmon (R-Ariz.) told reporters earlier today at Heritage they don’t think Speaker John Boehner (R-Ohio) will seek another term after November. Labrador: “I don’t think he runs.” Salmon: “I don’t think he’s going to come back as Speaker, either.”
Wonder what Cantor thinks about that...
The majority leader is expected to easily win his primary Tuesday night after early fears that his Tea Party opponent would provide a tough challenge.
MARK YOUR CALENDAR: Senate Banking will hold a nomination hearing for San Antonio Mayor Julian Castro to be secretary of the U.S. Department of Housing and Urban Development at 10 a.m. on June 17, Banking spokesman Kate Cichy announced today.
FLOOR WATCH: The Senate advanced the nominations for now-former Treasury undersecretary Lael Brainard to be Federal Reserve governor; Fed Gov. Jerome Powell, who is up for a second term; and Fed board member Stanley Fischer to be vice chairman. The Senate is expected to confirm all three later this week.
HIRED: NEW CFTC ENFORCEMENT DIRECTOR, via Ben Protess for Dealbook: “The Commodity Futures Trading Commission announced on Tuesday that Aitan D. Goelman, a former federal prosecutor turned white-collar defense lawyer, would become the head of the agency’s enforcement division. Mr. Goelman, a 45-year-old trial lawyer, will join the agency from the Washington office of Zuckerman Spaeder, where he is a partner.” http://nyti.ms/SLs5vh
HILLARY: OFF MESSAGE? Gabriel Debenedetti for Reuters: “Accused of being out of touch after making comments about her finances, likely presidential candidate Hillary Clinton headed for a speaking engagement on Tuesday that could earn her up to $250,000.
“Clinton's address to food trade groups in Chicago comes as she takes heat for comments that her family was ‘dead broke’ when it left the White House in 2000, despite the considerable income she and former president Bill have earned subsequently along with the luxury real estate assets they have managed to acquire.
“Her annual salary as secretary of state was $186,600.
“‘Between their million-dollar mansions in New York and Washington and her ridiculously expensive speaking fees, it's clear nobody could be more out of touch than Hillary Clinton,’ said Republican National Committee spokesman Jahan Wilcox.” http://reut.rs/1oRXarN
THE SCENE – WARREN LAUGHS OFF CFPB CRITICISM. Sen. Mike Johanns (R-Neb.) read a lengthy, flowery description of the $185 million renovations for the Consumer Financial Protection Bureau’s leased office building, as Sen. Elizabeth Warren (D-Mass.) laughed and rolled her eyes during CFPB Director Richard Cordray’s semi-annual report to Congress.
The costs have been a common criticism against the agency, which is the brain child of Warren, especially since right-leaning Washington Examiner reported the initial cost estimate was $45 million.
Cordray’s reponse: “The notion this has tripled in cost is a fiction by the Washington Examiner. We don’t own the building but the notion we are building some kind of palace is ridiculous.”
THE GOP’s STUDENT LOAN PROPOSAL. Left-leaning Slate economics reporter Jason Weissman: “With summer campaign season underway, the Democrats are looking to rouse young voters by offering them a break on their student debt.
“At the moment, liberal favorite Elizabeth Warren is championing a bill that would let borrowers save money by refinancing their old education loans at today’s low interest rates.
“By funding it with a tax hike on millionaires, however, the Massachusetts senator has all but guaranteed that the legislation will die should it ever reach the Republican-controlled House...
“There’s a bit of irony here. While Democrats are busy turning America’s student debt crisis into campaign fodder, a Republican may actually have the single best plan for fixing it.
“His solution lacks the populist punch of Warren’s bill. But the idea could save millions of future borrowers from financial ruin without costing taxpayers a dime—which means that, if it could get enough attention, it might also stand a small chance of becoming law.
“Since 1983, Tom Petri, a low-key House GOP congressman from Wisconsin, has advocated an idea that education wonks sometimes call ‘universal income-based repayment.’
“It would completely scrap the convoluted system that former students currently rely on to repay their loans. Instead, college debt would work like just tax withholding. A borrower would simply pay a set percentage of her monthly earnings to the government, deducted straight from her paycheck.” http://slate.me/1kjjvds
DEMS PROPOSE SOCIAL SECURITY REFORM, via Ramsey Cox for the hometown paper: “Sens. Patty Murray (D-Wash.) and Mark Begich (D-Alaska) introduced a bill to reform Social Security by increasing the payroll tax on the wealthy and expanding benefits to divorced couples and some college students.” http://bit.ly/1kYNuNO.
ON-TAP FOR TOMORROW: National Security Adviser Susan Rice speaks at The Center for a New American Security; followed by House Budget Chairman Paul Ryan (R-Wis.); the House Financial Services Committee has a subcommittee hearing on the “Production and Circulation of Coins and Currency;” Securities and Exchange Commission (SEC) enforcement director Andrew Ceresney speaks at noon at K&L Gates’ offices in Washington for a D.C. Bar forum;
MORE FROM THE HILL’s TEAM:
--Veto threatened in school lunch fight: http://bit.ly/1q1IbPE
--IRS releases new taxpayer bill of rights: http://bit.ly/1pD9Kwq
--Administration won’t rule out post office cuts to fund highway bill: http://bit.ly/1obq5Lk
--Job openings rise in April as labor market recovery continues: http://bit.ly/SwIqU9
--Senate to provide $1.9B for massive influx of child migrants: http://bit.ly/1mEEWXZ
--House rejects cuts to community development grants: http://bit.ly/1kjJnpD
--Bitcoin bulks up lobbying power: http://bit.ly/1mEFcGv
This story was updated at 8:19 p.m.