On The Money – Senate Risks Trump’s Wrath With Debt Ceiling



Have a nice Thursday and welcome to On The Money, Your nightly guide to everything to do with your bills, bank account, and bottom line. Subscribe here: thehill.com/newsletter-signup.

Today’s Big Deal: A handful of Senate Republicans have helped pave the way to raising the debt ceiling despite former debts President TrumpDonald Trump Jury in Jussie Smollett Trial Begins Deliberations Pence Says He Will “Evaluate” All Jan 6 panel inquiries Biden’s Drug Overdose Strategy will drive treatment for some, jail for others MORE‘s warnings. We’ll also look at a sharp drop in unemployment claims and Democrats’ fear over the SALT withdrawal.

But first Enes tells us Kanter why he became an American.

For The Hill we are Sylvan Lane, Naomi Jagoda and Aris Folley. Write to us at [email protected] or @SylvanLane. [email protected] or @NJagoda and, [email protected] or @ArisFolley.

Let us begin.

14 Senators Help Advance Debt Limit Deal

Fourteen Senate Republicans on Thursday helped advance a deal negotiated by Senate minority leader Mitch McConnell (R-Ky.) To provide a one-time waiver for the filibuster from raising the debt ceiling.

Senators voted 64-36 to wrap up the debate on the bill, which also prevents automatic cuts that doctors and other medical care providers face under Medicare from taking effect.

  • McConnell and GOP Sens. John BarrassoJohn Anthony BarrassoGOP Works To Freeze Votes On McConnell Debt Deal Congress Prevents Closure After Fighting Vaccination Mandate On Sunday (Wyo.), Roy BluntRoy Dean BluntGOP Works To Lock Votes On McConnell Debt Deal Manchin Silently Discusses Senate Rule Changes With Republican House Approves Bill To Facilitate Passing Debt Hike MORE (R-Mo.), Richard BurrRichard Mauze BurrTrump wants to strengthen Ted Budd in the North Carolina Senate race The Texan Democrat Eddie Bernice Johnson announces resignation at the end of his term in office (NC), Shelley Moore CapitoShelley Wellons Moore CapitoGOP Works To Block Votes On McConnell Debt Deal Overnight Energy & Environment – Presented by ExxonMobil – Biden May Be Delayed Due To Falling Gas Prices (W.Va.), Susan CollinsSusan Margaret CollinsThe Hill’s Morning Report – Presented by Uber – Debt Control Maneuvers; Biden warns Putin Senate confirms Biden’s candidate for leadership of Customs and Border Protection Hillicon Valley – Presented by the Connected Commerce Council – Language for reporting incidents not included in the MORE package (Maine), John CornynJohn CornynGOP Works to Lock Votes on McConnell Debt Deal Manchin Silently Discusses Senate Rules Changes With House Of Representatives Approves Bill To Facilitate Passing Debt Hike MORE (Texas), Joni ErnstJoni Kay ErnstOvernight Defense & National Security – Biden: US troops in Ukraine “not on the table” Gillibrand criticizes committee leadership, Pentagon cuts down on military justice reform Five interesting facts about Russia’s troop build-up near Ukraine MORE (Iowa) Lisa MurkowskiLisa Ann Murkowski Senate Leaders Rejected To Tie Debt Dispute To Defense Bill Congress Should Reject HR 1619’s Dangerous Casino Precedent Anywhere, Anywhere Democratic Frustration Grows Over Stagnant Voting Laws MORE (Alaska), Rob PortmanRobert (Rob) Jones PortmanGOP Works to Freeze Votes on McConnell Debt Deal Hillicon Valley – Presented by Connected Commerce Council – Incident Reporting Language Out of Package Language that obliges companies to report cyberattacks under the Defense Act MORE was excluded (Ohio), Mitt RomneyWillard (Mitt) Mitt RomneyBiden nominates Meg Whitman as ambassador to Kenya Most voters in Utah say Trump shouldn’t run in 2024: Poll Romney praises Biden’s boycott of the Beijing Olympics MORE (Utah), Thom TillisThomas (Thom) Roland TillisGOP Works to Freeze Votes on McConnell Debt Deal GOP Blocks Bill to Extend Gun Background Checks Post-Michigan Shooting Overnight Defense & National Security – A New Plan to Treat Marines “like humans” MORE (NC), John ThuneJohn Randolph ThuneOn The Money – McConnell Seeks Debt Accord Votes GOP Works To Freeze McConnell Debt Accord Votes Manchin Quietly Discusses Senate Rules Changes With Republicans MORE (SD) and Roger WickerRoger Frederick WickerGOP Works To Freeze Votes On McConnell Debt Deal Hillicon Valley – Chinese Disinformation Accounts Removed GOP Resistance Against Biden FCC Candidates Could Endanger Democratic Majority On Board MORE (Miss.) Helped move the bill forward.

Despite days of public confidence, the leadership would be able to cast at least 10 GOP votes, the deal negotiated by McConnell and the Senate majority leader Charles SchumerChuck SchumerGillibrand Criticizes Committee Leadership, Pentagon Cuts For Military Justice Reform Build Back Better Is Bad For States Dole Lies In Capitol Rotunda MORE (DN.Y.) sparked new rifts among Republicans in the Senate just two months after a fierce battle over a short-term debt hike.

“This idea lumps us all together and I don’t like it. And I won’t forget, ”said Graham. “I like you. Senator McConnell was a great Republican leader … but this was a moment when I really wanted to say, ‘I don’t like this.’ ”

Jordan Carney has more here.


Unemployment claims are at their lowest level in 52 years

New unemployment insurance claims fell to 184,000 last week, according to data released by the Labor Department on Thursday, the lowest level in more than 52 years.

Last week’s total was the lowest since September 1969, breaking the previous record for the lowest number of weekly jobless claims since the pandemic hit.

In the week ending December 4, the seasonally adjusted initial jobless claims fell by 43,000 from the revised level of 227,000 in the previous week.

The caveat: While the decline in unemployment claims suggests a strengthening labor market, economists may skew the extent of the decline through seasonal adjustments based on pre-pandemic pre-pandemic recruitment patterns.

The non-seasonally adjusted claims last week amounted to 280,665, an increase of 29.3 percent compared to the previous week. The Bureau of Labor Statistics (BLS) expected a seasonal increase of 106,047 applications last week.

I explain here.


Democratic concerns are growing over the politics of SALT cap

Democratic concerns are growing that a tax rule in President BidenJoe BidenPharma lobby watches MPs call for US workers to hit all-time high Biden awards the Medal of Honor to three soldiers who fought in Iraq, Afghanistan: MORE‘s social spending package, valued by suburban New York and New Jersey lawmakers, could put the party back in the midterm elections.

Republicans are increasingly attacking Democrats for pulling back the $ 10,000 cap on state and local tax (SALT) deduction, arguing that it mostly benefits the rich. A number of Democrats fear that GOP criticism could resonate with voters outside of the major coastal metropolises.

In an interview with The Hill on Wednesday, Rep. Jared GoldenJared GoldenSunday Preview: Boosters Open to All Adults in the US; The House of Representatives pass the spending plan on to the Senate Five takeaways: House passes Biden’s comprehensive law on social benefits Overnight Energy & Environment – House passes huge climate and social policy law MORE (Maine), the only Democrat to vote against welfare spending measures in the House of Representatives, predicted there would be “millions of dollars in attack reports” against vulnerable Democrats on the SALT withdrawal issue.

“I think SALT will further solidify the growing narrative that the Democratic Party is an urban elite, a wealthy party that cannot break out of urban areas and liberal urban communities,” Golden said.

Read more from Naomi Here.


Retailers urge Congress to combat online sales of stolen and counterfeit goods

A coalition of major retailers urges Congress to take action against online sales of stolen and counterfeit goods, which coincide with a surge in smash-and-grab theft in major cities.

The board of directors of more than 20 companies wrote a letter to congressional leaders on Thursday urging them to take action against online sales of stolen and counterfeit goods and highlighting the impact of organized retail crime on online shopping -Market.

“As millions of Americans have undoubtedly seen on the news in the past few weeks and months, retail businesses of all kinds have seen a sharp increase in organized crime in communities across the country,” the letter said.

“While we are constantly investing in people, policies and innovative technology to prevent theft, criminals take advantage of the anonymity of the internet and the failure of certain marketplaces to screen their sellers. This trend has made retailers a target for increasing thefts from legitimate businesses forced to compete with unscrupulous sellers and has greatly increased consumer exposure to unsafe and dangerous counterfeit products, “she adds.

Read more from The Hill’s Mychael Schnell Here.

Good to know

About two-thirds of Americans reported higher household spending than they did in March 2020, an indication that inflation continues to affect Americans despite wage growth, so published a new poll on Thursday.

We still have the following in mind:

That’s it for today. Thanks for reading and check out The Hill’s Finance side for the latest news and coverage. We will see you tomorrow.



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