Washington Weekly - April 5

This Week:

The House and Senate are in recess.

Federal:

ASA Fly-In:  Last week, when several bills were being marked up, committees hearings held, and votes called, ASA members took to Capitol Hill for the first time in four years (in person) to represent the PHCP/PVF industry. Members met not only with their respective members from their home states, but also had face-to-face meetings with friends of our industry like Sen. Ted Budd (R-NC) and Rep. Rudy Yakym (R-IN).   They took time to meet with ASA advocates, and not only listen and take questions, but to offer their insights on legislative status and current support.  With close to 40 legislative offices visited, ASA members made an immediate impact during a critical period in the legislative process. 

IRS:  After receiving an additional $80 billion in funding targeted at tax enforcement from the Inflation Reduction Act, Treasury Secretary Janet Yellin will unveil a plan as to how the money will be spent. Congressional Republicans pointed out that up to 87,000 additional IRS agents would be hired, but it remains to be seen how the money will be spent, given that the Treasury Department received discretion on how to spend at least half of the funding.

CODELs: Better known as Congressional Delegations.  With both houses out for their spring recesses, Senators and Representatives will be active in traveling back to their districts, across the country, and around the world.  Speaker Kevin McCarthy (R-CA) will be meeting with Taiwanese President Tsai Ing-Wen, representing the highest-level meeting in the United States with a Taiwanese leader since 1979.  This, after President Tsai had met with House Minority Leader Hakeem Jeffries (D-NY) and a bipartisan delegation in New York this week.  In addition, a House delegation led by Rep. Mike Gallagher (R-WI) will be meeting with Disney CEO Bob Iger.  Later in the month, Speaker McCarthy and Minority Leader Jeffries will be in Israel (separately). 

Politics:

Trump: With Congress in recess this week, the political gossip has been focused on former President Trump’s indictment on 34 charges of allegedly falsifying business filings and his subsequent arraignment in a Manhattan court room. How this affects the 2024 Republican field for President remains to be seen, but the quick takeaways are that it has helped fuel a surge of support for Trump (who has raised $7 million+ since the indictment), taken some wind out of the sails of potential candidate/Florida Gov. Ron DeSantis, and resulted in a new candidate entering the race, former Arkansas Gov. Asa Hutchinson.  With the field far from set, keep an eye on South Carolina Sen. Tim Scott.  Sen. Scott has been solidifying support amongst his GOP colleagues in the Senate, along with increasing his national travel.  The speculation is not if, but when, Sen. Scott will announce for President.

Elections:  On Tuesday, two key races took place in the Midwest.  In Chicago, progressive Brandon Johnson defeated centrist Paul Vallas to become the next mayor.  In Wisconsin, Democrats are celebrating with the election of Janet Protasiewicz to the Supreme Court.  She defeated Republican and former Supreme Court Justice Dan Kelly, to give liberals a 4-3 majority.  All in, this was a $45 million race (and counting), that could change district maps soon.

President Biden Job Approval (RCP Average): 44% Approve – 53% Disapprove. The House currently has a composition of 222 Republicans to 213 Democrats. The Senate is comprised of 51 Democrats and 49 Republicans.