Senate issues “Green New Deal” alternative.
March 01, 2019
Senate issues “Green New Deal” alternative. Senate Democrats released a joint resolution on Thursday meant to unify the party over a common climate change plan. The nine line resolution, introduced by Senator Tom Carper, states that climate change is real, man-made, and that something must be done about it. All 47 members of the Senate Democratic Caucus signed the legislation. While the resolution does not offer any specifics on efforts to combat climate change, it does unite Democrats against Republican attempts to highlight their internal divisions. [The Hill]
Surprise medical bill legislation coming soon. Senator Bill Cassidy told reporters on Thursday that legislation protecting people against receiving massive, surprise medical bills could come as soon as the end of the month. The legislation is seen as one of the most likely areas for bipartisan collaboration on health care this year. While a similar bill was introduced last year by Democratic Senators Maggie Hassan and Michael Bennet, the bipartisan effort with Senator Cassidy will likely add some weight to their proposal. [The Hill]
White House continues to form panel that will question climate change. The presidential panel will question science used by the U.S. military and intelligence reports that show human-driven climate change as a national security risk. The panel will likely be led by William Happer, a retired Princeton professor who believes greenhouse gases are good for the planet and lacks a background in climate science. [Reuters]
Economic Indicators and News
U.S. personal income fell for the first time in over three years in January. The Commerce Department reported Friday that personal income fell 0.1 percent in January, the first decline since November 2015. Income is weighed down by decreases in dividend, farm proprietors’ and interest income. Wages increased 0.3 percent in January following a 0.5 percent rise in December. While the report did not include consumer spending numbers for January, due to the government shutdown, December’s numbers showed a drop of 0.5 percent. This is the biggest decline in consumer spending since September 2009. [Reuters]
Consumer sentiment declines in late February. The unexpected decline shows that the American public has not so quickly shaken off the government shutdown. The University of Michigan’s final February sentiment index came in at 93.8, below preliminary reading of 95.5 and missing the projected 95.9 median forecast. [Bloomberg]