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Senate votes to proceed with repeal of authorizations for Iraq, Gulf wars The Senate on Thursday voted 68-27 to advance legislation that would repeal two war authorizations against Iraq, both of which remain on the books long after the conflicts have ended and as Iraq is now considered a strategic partner. The procedural vote means…
Biden supports repeal of Iraq, Gulf War authorizations, White House says The White House on Thursday threw its support behind legislation to repeal the Iraq and Gulf War military force authorizations. The White House said the bill keeps with Biden’s “longstanding commitment to replacing outdated authorizations for the use of military force” and “would have…
Romney grills Biden official about Social Security in tense exchange Sen. Mitt Romney (R-Utah) grilled Shalanda Young, director of the White House Office of Management and Budget (OMB), about Social Security during a hearing Wednesday focused on President Biden’s fiscal 2024 budget proposal. In a tense line of questioning, Romney pressed Young about whether she knew…
Dow falls 500 points as Credit Suisse concerns deepen fears of banking crisis The stock market opened with steep losses Wednesday as concerns about the health of Credit Suisse triggered fears of a broader banking crisis. The Dow Jones Industrial Average opened with a loss 1.5 percent Wednesday, a decline of almost 500 points after…
The Hill’s Morning Report — Regulators, no lawmakers, likely to act after SVB failure Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics…
Five things to know about the Silicon Valley Bank takeover The federal government took over Silicon Valley Bank (SVB) over the weekend and announced it would insure 100 percent of deposits in a bank that caters to venture capitalists and high-tech startups. The Treasury Department announced Sunday night that the Federal Deposit Insurance Corporation (FDIC)…
Biden approves controversial oil drilling project in Alaska The Biden administration on Monday approved a massive drilling project in Alaska, allowing oil company ConocoPhillips to move ahead with the 30-year project over objections from environmental groups. While not a surprise, the move to greenlight the Willow Project is expected to rankle President Biden’s liberal and climate-minded allies, who…
Biden stresses that Silicon Valley Bank is not getting a bailout President Biden on Monday stressed that Silicon Valley Bank (SVB) will not get a government bailout after regulators seized the assets of the failed bank. “No losses will be — and this is an important for point — no losses will be borne by…
The Hill’s Morning Report — Government scrambles to help struggling banks Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct…
Biden, Democrats applaud ‘decisive action’ to protect Silicon Valley Bank depositors President Biden and Democrat lawmakers praised the “decisive action” by federal financial agencies on Sunday to protect Silicon Valley Bank depositors and shore up the financial system ahead of markets opening on Monday. “The American people and American businesses can have confidence that their…