Bipartisan Immigration Plan Revealed
February 05, 2018
Senators release bipartisan immigration plan; Whitehouse Budget Director halts Equifax probe; Pay rises in US.
- Senators release bipartisan immigration plan. US Senators Chris Coons and John McCain have unveiled a bipartisan immigration bill that improves border security while allowing for a path to citizenship and security for DACA recipient “Dreamers.” The bill is narrower in scope than the bill proposed by President Trump last month, which both parties rejected. The McCain-Coons plan does not include funding for a border wall, which has caused the President to reject the deal outright. However, Senator Coons has emphasized that the House bill has 27 co-sponsors from each party, and there may be enough support to pass the bill in Congress regardless. [Reuters]
- Whitehouse Budget Director halts Equifax probe. Head of CFPB and Budget Director Mick Mulvaney has dialed back the CFPB probe into Equifax’s data breach last year. The Bureau has not sought sworn testimony, nor tested new data security measures at the agency. Equifax was hit by two massive data breaches which it failed to report to the public, and was later found out to be charging customers to find out if they’d been impacted. The CFPB registered a record number of complaints about the agency, which is also subject to 240 class action lawsuits. The FTC is also engaged in an investigation in the Equifax. [The Hill]
Economic Indicators & News
- Pay rises in US. In more than half of US states this year, wages jumped over 3%, finally ticking up more than a decade after the recession. Over the past 4 years, the US economy added 10 million jobs, but wages have persistently failed to meet growth expectations. Average hourly earnings were up 2.9% in January, while jobless rates were at record lows, signaling a potential inflection point in wage growth. States as diverse at Arkansas and California saw wage increases, in industries as diverse as technology and construction. [Reuters]