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The threshold determines if an institution must comply with HMDA. Why it matters: On HMDA, a federal district court said the CFPB did not properly justify an increase to the origination threshold from 25 to 100 loans. One could change the reporting threshold for the Home Mortgage Disclosure Act (HMDA) while the other could reshape how the regulator is funded. Two federal court decisions could have lasting impact on the Consumer Financial Protection Bureau (CFPB). However, if McMullin can pull off an upset, he could hand the majority to Democrats, despite not running as one, with a 50/49/1 split. The big picture: Despite recent media attention following last week’s debate, Lee is still favored to win his seat and leads McMullin by 5 points, according to recent polling by FiveThirtyEight and RealClear Politics. Mitt Romney (R-UT) despite his pleas on Fox News, but this is not surprising given their political differences despite being in the same party. Lee has yet to be endorsed by his colleague Sen. McMullin pledged to voters to be an independent voice if elected and promised not to conference with Republicans or Democrats.Independent McMullin poses a credible challenge to Lee, who has previously won his last two general elections by double digits.Traditionally, Republican victories are all but guaranteed in the beehive state.Mike Lee (R) and Independent Evan McMullin, the race has emerged as a potential wild card. Following the debate and some recent polls between incumbent Sen. This week, we’re focusing on the Senate Race in Utah. The bottom line: While internally popular, McCarthy’s positions on the debt limit, immigration, and other policies cause nervousness in Corporate America.ĬREFC has covered the most important races to watch in November as Democrats and Republicans compete across the country for the Senate Majority. Go deeper: Axios outlines the behind-the-scenes developments that have potential wide-ranging geopolitical implications. The Biden administration and our allies need to do more to supply the tools Ukraine needs to thwart Russian aggression.” “It is in America’s core national security interest to make it clear that revisionist states such as Russia or China cannot simply gobble up smaller neighbors. And Senate Republican Leader Mitch McConnell (R-KY) broke with McCarthy in a statement that began:.Yet fellow Republicans pushed back too as former Vice President Mike Pence declared: “There can be no room in the conservative movement for apologists to Putin.”.President Biden pushed back on McCarthy and other House Republicans, saying “they have no sense of American foreign policy” and are missing the broader geopolitical and moral questions posed by the Russian invasion.These comments sparked a public clash that previews a bumpy path for future foreign aid funding requests. Ukraine - McCarthy insists a House Republican majority won’t give a “free blank check” to President Joe Biden on Ukraine, casting doubt on Republicans’ commitment to more Ukraine funding. You’ve got to just go fix the border to start out before you can deal with immigration,” he said. “I believe Biden has destroyed our border so badly.McCarthy is opposed to trading a pathway to citizenship or DACA for increased border security - the traditional policy trade that both parties have envisioned for years.Immigration - he is taking a very hard line on immigration policy: McCarthy demurred when asked if he intended to try to force “structural changes” to popular entitlement programs including Social Security and Medicare.ĬOVID funding - McCarthy will oppose any requests for new COVID funding.We don’t want to get bogged down,” he said. “People are going to want to see us accomplish things. McCarthy does not want a government funding fight early in his tenure.McCarthy would like at least a 10-seat cushion, although it could be larger.ĭebt Limit - The nation’s statutory borrowing cap will need to be lifted at in 2023 during the second half of the year. Size of majority - A small margin would make governing very difficult for the California Republican, as it has been for current House Speaker Nancy Pelosi to keep all factions of her party unified. Kevin McCarthy, said that Republicans will use raising the debt limit as leverage to force spending cuts, oppose more COVID funding and a pathway to citizenship, and limit additional funding to Ukraine. Why it matters: The presumptive Speaker of a Republican-controlled House, Rep. In comments to PunchBowl News last week, House GOP Leader Kevin McCarthy previewed what governing would look like in a potential Republican majority. Republicans are poised to retake control of the House in midterm elections, as The New York Times has Republicans holding a four-point lead over Democrats on the generic ballot.
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