Global shares reached a one-month high after a boost on Wall Street. The dollar made significant gains, resulting in the decline of other major currencies, including the euro. Hopes for a deal over the US debt ceiling that should manage to avoid a calamitous default were reflected in the markets. Investors will watch for signals across various markets today, including Federal Reserve interest rates, as the US government faces the threat of sliding into a recession and possible downgrading of Treasury debt.
A North Carolina Republican-controlled legislature enacted a 12-week abortion limit after Democrats failed by one vote to override the Governor's veto. The apparent defection by Charlotte-area Democratic Rep. Tricia Cotham to the GOP gave Republicans veto-proof margins in both the House and Senate. Cotham ran on an abortion access platform and had previously been known to advocate for women's reproductive rights and LGBTQ+ rights. Since joining the GOP, she has also voted for a ban on gender-affirming surgeries for trans minors and a prohibition on trans student athletes playing on sports teams that align with their gender identity.
The balance of power in the US state of North Carolina has been thrown into chaos after a single Democrat switched to the Republicans and supported a bill to reduce access to abortions. The switch came just one vote short of giving Republicans what would have been a precious veto-proof majority. The state’s Democratic governor criticized the move and warned that it might be used to drive through new conservative measures. Recently, North Carolina has been hit by a wave of demonstrations, over issues including policing and gay rights, and some commentators view the new political developments as further evidence of societal dislocation.
New York Representative Jamaal Bowman has been gaining notice in Congress due to his confrontational style, publicly speaking out against Republicans and moderate Democrats. This approach has assured the public of his passion and mission. Despite his left-wing political mission, Mr. Bowman’s approach has caught the eye of a wider section of the Democrat party and there has been speculation about his ambition. Videos of him arguing with House Republicans and being told to “calm down” by an AR-15-owning representative from Kentucky circulated on social media. Alongside the success of his confrontational tactics, his approach causes risk to his personal safety as a Black man. Last week, Representative Marjorie Taylor Greene accused him of called her a white supremacist which she criticised as her being treated "equal to” someone “calling a person of color the N-word.” Scholars of political rhetoric suggested that his aggressive approach will stand as a departure from how Black politicians have engaged with politics before. Mr. Bowman is an educator and often engages with politics differently than the institution is used to.
A growing number of Republicans in Congress are opposing US aid to Ukraine, which they argue is a poor use of taxpayers' money and that Kiev should battle Russia alone. However, Ukraine remains geopolitically significant, and President Joe Biden has increased military aid to the country by a further $1.2bn. Still, the stance of many Republicans suggesting the US should not be involved in helping an ally may be viewed askance by Europeans, depending on how far such signals are pursued. One particularly vocal critic of Ukraine assistance is Republican congressman, JD Vance. Nonetheless, so far, support for Kiev has remained largely strong on Capitol Hill, even if oversight of the spending has increased.
Republican Rep Marjorie Taylor Greene has been accused of racism after calling Democratic colleague Rep Jamaal Bowman a white supremacist. Mr Bowman had earlier accused Ms Greene of using a racial "bullhorn" when she characterised him as threatening. After Ms Greene's comments were slammed as racism by Mr Bowman, California Governor Gavin Newsom threw his support behind his colleague, suggesting that Ms Greene's "dangerous rhetoric" was "racist" and condemned her behaviour as "mansplaining." Ms Greene responded with a tweet, accusing Newsom of "mansplaining" when women feel threatened.
The US Forest Service has reversed course on a previously stated timeframe for completing the approval on a land swap that would allow Rio Tinto to develop a copper mine in Arizona. The case pits a mining company seeking to supply a large portion of US copper demand against Indigenous groups who wish to preserve the Arizona Oak Flat campground, a site of religious importance. Although officials previously signalled that the environmental report necessary for the mine’s approval would be republished this spring, the department has yet to identify a timeframe for its completion.
US Treasury Secretary, Janet Yellen, has warned that the US is in danger of running out of money to pay its bills come June 1st, since the US Congress has not raised or suspended the nation’s current $31.381tn debt ceiling. US President Joe Biden and congressional Republicans continue to negotiate with a growing sense of urgency as his return to the US on May 21st approaches. Congress has raised or suspended the country’s debt ceiling over 100 times; however, polarisation in US politics has made the deadlock less unusual than in previous events.
Talks between US House of Representatives Republicans and President Biden’s administration on raising the debt ceiling stalled, leaving little time for agreement before the federal government risks catastrophic default. The Treasury Department warned it may be unable to pay its bills by 1 June. Representative Garret Graves said the talks stopped until further progress is made, but the White House remained optimistic a deal could still be reached. Democrats have raised concerns over work requirements attached to the talks, delaying negotiations. Failure to resolve the issue would impact US stocks, Treasury yields, and the dollar.
The Democrats have linked the recently selected Republican nominee of the Kentucky governor to heavily criticised pardons by the vanquished predecessor of Gov. Andy Beshear, a Democrat who is trying to win a second term in GOP territory. Meanwhile, Republicans have attacked Beshear, accusing him of overstating his role in achievements based on the state's GOP-dominated legislature. In a democratic attack ad, the Kentucky attorney general and Republican nominee were accused of shirking his duties by failing to hold former Gov. Matt Bevin accountable for issuing hundreds of pardons and commutations in his final days in office.
Two former FBI agents and self-proclaimed whistleblowers at a hearing of the House Select Subcommittee on the Weaponisation of the Federal Government have admitted to receiving money from former president Donald Trump's advisor Kash Patel. The two agents accused the FBI of removing them from service because of their conservative political beliefs and claimed that the FBI was unlawfully retaliating against whistleblowers who complained about the bureau's treatment of suspects involved in the US Capitol riot on 6 January. Democratic Rep. Stacey Plaskett stated: "MAGA Republicans are a threat to the rule of law in America."
A nominee to Connecticut’s highest court has pulled out of consideration after state lawmakers raised questions about her support for a federal appeals court position for Judge Amy Coney Barrett in a 2017 signed letter. Sandra Slack Glover withdrew her nomination from Governor Ned Lamont four days after appearing before a Democratic-controlled Judiciary Committee. Glover assured lawmakers that she would not have signed the letter if she knew Barrett would later vote to overturn Roe v. Wade's abortion protections as a member of the US Supreme Court.
The US government is just weeks away from running out of money if the “X-date” when the so-called debt ceiling is not raised arrives. Although the White House is playing down the dangers, it is typically dismissed as posturing to put pressure on Republican congress members. However, current conditions differ considerably from earlier episodes of the debt-ceiling standoff and complacency could cause a dangerous storm. If the June 1 deadline passes and the debt-ceiling has still not been raised, the government will likely be forced to drastically cut spending which may cause a recession with disastrous effects globally.
Ukrainian President Volodymyr Zelenskyy is to attend the G7 summit on Sunday, allowing him to confront Indian Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva, two crucial developing countries that have maintained close ties with Moscow despite the country’s invasion of Ukraine, about their lack of support for sanctions against Russia, with their obfuscation over who is to blame for the conflict in which Kyiv is preparing to push for battlefield gains. Experts believe Zelenskyy’s presence should serve as a ‘symbol of unity’ against Russia.
North Carolina GOP gubernatorial field expects former congressman Mark Walker to join
The Toronto Star
23-05-20 05:05
Former U.S. Rep. Mark Walker is expected to formally announce his candidacy for the Republican nomination in the race for North Carolina governor over the weekend. Walker is entering a primary already filled with the standing lieutenant governor and state treasurer. The Democratic side has Attorney General Josh Stein announced his gubernatorial bid in January. Primary elections are scheduled for March. North Carolina’s Democratic Gov. Roy Cooper is barred by the state constitution from seeking a third consecutive term in the gubernatorial election.
Nevada fentanyl penalty bills have mixed results in hearings as Democrats amend proposals
The Toronto Star
23-05-20 04:39
A bill that would have increased the penalties for fentanyl in Nevada did not pass after its hearing in an assembly committee, while a companion bill was significantly amended just hours before the deadline for most bills to pass out of their second committee at the end of April. For months, harm reduction experts and some Democrats had warned that legislation that began with possession of four grams of the drug would repeat the “war on drugs” policies. Democratic Attorney General Aaron Ford presented an amended fentanyl bill and answered lawmakers’ questions in two hearings. The legislation now starts low-level trafficking charges at 28 grams of possession of fentanyl, which is significantly higher than the previous 4-gram proposal. The proposal also creates legal protection for people seeking medical assistance for a person who is experiencing an overdose. It is estimated that ingesting 2 milligrams of fentanyl can be fatal, while 1 gram, the weight of a paper clip, could contain 500 lethal doses.
Rep. Garret Graves (R-La.) is leading the debt ceiling negotiations for House Republicans and is considered by Speaker Kevin McCarthy (R-Calif.) to be the obvious pick. Graves is respected by many who have worked with him due to his calm demeanor and attentiveness, and his knowledge and experience of the legislative process. However, some more conservative colleagues are concerned his openness to striking a deal with Democrats could misrepresent or ignore their attempts to cut spending. Some commenters suspect McCarthy may be positioning Graves as a “fall guy” to blame if negotiations fail to appease the far-right flank of the conference.
Graves was the top Republican in finding consensus among Republicans to elect McCarthy as speaker and bring together the disparate ideals of the conference. He has never served as committee chair or been elected to House leadership so some think he lacks the experience for such a high-stakes mission. In terms of his policy work, Graves has remained a conservative who toes the party line and has a 96 percent conservative score. When serving on the House Climate Crisis Committee, McCarthy appointed Graves as the top Republican to establish an energy, climate, and conservation task force that crafted policy prescription agreements.
Graves is negotiating with two trusted Biden aides: counselor to the president Steve Ricchetti and Office of Management and Budget Director Shalanda Young, who coincidentally is from the southern Louisiana district that Graves represents. Regardless of his background, and beyond party politics, what is clear is Graves’ calibre as a ‘workhorse.’ As Rep. Bryan Steil (R-Wis.) observes, while Graves may not be very visible, “if they want to debate Graves on policy, it’s best to come overprepared.”
This little-known rule shapes parking in America. Cities are reversing it
CNN
23-05-20 09:02
The policy of mandatory minimum parking requirements, which requires parking spaces for a large number of buildings, is starting to be scrutinized by cities and towns across the United States. Critics say that parking minimums reduce the supply of housing, making it more expensive for people who are looking for affordable housing. According to WGI, a construction engineering company, it costs around $28,000 to build a parking spot in the US, with construction costs highest in New York City, where a new parking spot costs up to $36,000. Mandatory parking requirements also have environmental consequences, such as increasing traffic congestion and carbon emissions because fewer people walk or cycle. A number of cities, both Republican-led and Democrat-led, are reforming parking rules, with California being the first state to pass legislation that ends parking minimums for new developments nearby to public transit. US Representative Robert Garcia, a Democrat from California, recently introduced a bill that would eliminate parking minimums for new affordable residential, retail, industrial, and commercial construction.
New York City (NYC) Mayor Eric Adams has infuriated the top aides of President Biden by blaming his administration for the influx of migrants into the city due to its failure to handle the crisis at the US-Mexico border. The mayor’s comments are raising concerns among the Democratic Party that his messages will undercut Biden's leadership and strengthen the arguments of Republican governors regarding his weak stance on border security — a criticism that Biden has been battling since he assumed office. The Biden administration has expressed similar concerns, stating that the mayor is a grandstanding opportunist solely looking to win headlines for himself without regards to the broader political implications for the administration and the president's re-election. Democrats fear that with presidential elections coming up in 2024, Mr. Adam's potshots will contribute to the nationwide criticism of Biden's administration by Republicans.
The White House has ignored many of the mayor’s requests, as many require congressional action that is unlikely to occur, given the current political gridlock in the Capitol. In Adams’ view, it is baffling that the officials in Washington do not understand the situation in NYC. He has been vocal in his request for the federal government to give more asylum seekers access to work permits and develop a plan to more broadly distribute migrants across the nation.
As a Democratic mayor in a liberal city, Adam’s criticism of the Biden administration is politically noteworthy, considering that he is the rare one to do so repeatedly in front of the news cameras. Republicans, on the other hand, are seizing the opportunity to portray Adam’s criticisms as a sign that even Democrats are dissatisfied with the president’s handling of migration issues. Despite the disagreement between both parties, experts suggest that ongoing negotiations would present the best option for resolving the current immigration crisis.
Robert F Kennedy Jr has earned a significant amount of support since he launched his presidential campaign, according to polls. The 69-year-old vaccine opponent and environmentalist is now supported by approximately 20% of Democrats. Additionally, almost half of Democratic voters do not want to see a re-run of President Biden, with concerns over his age being a significant factor. While Kennedy has a weak chance of beating out Biden for the Democratic nomination, his strong support is embarrassing for the Biden campaign and could highlight the president’s electoral vulnerabilities.
