1 House Advances GOP Blueprint To Provide $95-Billion In Iran Conflict Funding, And Bundles In Parts Of The SAVE Act
The House adopted a Republican-backed budget blueprint yesterday that would provide up to $95 billion for the Iran war, aid to farmers, and parts of President Trump's voting regulations bill known as the SAVE America Act. The vote was 216 to 214, with all Democrats, two Republicans, and one independent who caucuses with Republicans opposed. House Speaker Mike Johnson called it the party's best shot at enacting as much of the SAVE America Act as possible. The resolution is only the first step in the party-line reconciliation process. The Senate must also approve it before committees begin writing the actual package, which then needs to clear both chambers.
2 House Passes Bill That Would Ban Members Of Congress From Trading Stocks
The House passed a bill yesterday that would ban members of Congress from buying individual stocks, while also requiring voters to show photo identification to cast a ballot. The vote was 232 to 198, with 13 Democrats joining all Republicans. The Stop Insider Trading Act would bar lawmakers, their spouses, and dependent children from buying new stocks, though they could keep what they already own. Sponsor Bryan Steil of Wisconsin said anyone who wants to day trade can do it on Wall Street. Democrats called the bill a sham, noting it does not stop members from selling stocks or cover the president and vice president. Others objected to the voter ID provision, calling the bill a bait and switch.
3 Oil Tops $95 A Barrel As US Downplays Iran Diplomacy
Oil prices climbed sharply yesterday as the U.S. downplayed talks with Iran and Houthi rebels threatened global trade. Brent crude, the international benchmark that also shapes what Americans pay at the pump, closed up 3.4-percent at $94.07 a barrel, while U.S. crude rose 2.9-percent to $86.83. Traffic through the Strait of Hormuz has nearly stopped, with only 13 ships crossing Monday and nine Tuesday. Secretary of State Marco Rubio said Iran is targeting global shipping in an international waterway and demanding to control which ships can pass, calling that unacceptable. Iran's Houthi allies in Yemen have also declared a maritime embargo against Saudi Arabia, threatening another key oil route.