Bar bank executives from regional Fed boards, says Yellen's ex-advisor
Bar bank executives from regional Fed boards, says Yellen's ex-advisor
A former top Federal Reserve policy advisor said on Monday that bank executives should be barred from serving on the...
A former top Federal Reserve policy advisor said on Monday that bank executives should be barred from serving on the boards of the Fed's 12 regional outposts, Fed policymakers should serve just seven years, and monetary policy should be subject to an official annual review.
The proposals from Dartmouth College Professor Andrew Levin represent substantial change for the Federal Reserve.
Banks currently appoint six of the nine members of regional Fed bank boards, policymakers often serve a decade or more before retiring, and the details of monetary policymaking have always been a closely guarded secret, with transcripts of meetings released only after a five-year interval.
Levin, who advised Fed Chair Janet Yellen when she was Fed vice chair, released the proposals via the Fed Up Coalition, a network of community organizations and labor unions calling for change to the U.S. central bank. It is unclear how they will be received by other Fed critics who have called for even more sweeping changes, or the 101-year-old institution itself, which has largely resisted reform proposals.
The Fed has come under increasing fire in recent months from both Democrats and Republicans for what they say is a lack of accountability and transparency, with lawmakers and presidential candidates calling for a wide range of limits on the Fed's powers.
In response, some current and former Fed officials have begun to call for steps to placate the U.S. central bank's harshest critics.
Levin on Monday also called for the process of appointing Fed bank presidents to be more transparent and to involve the public. Currently Fed bank presidents are chosen in a closed-door process run by each bank's board and approved by the Washington-based Fed Board.
Reporting by Ann Saphir; Editing by Meredith Mazzilli
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We, The People, Defeated Republican Attempts To Repeal The Affordable Care Act
We, The People, Defeated Republican Attempts To Repeal The Affordable Care Act
After months of grandstanding and cloak-and-dagger meetings by Republican leaders, we dealt a final blow to the repeal...
After months of grandstanding and cloak-and-dagger meetings by Republican leaders, we dealt a final blow to the repeal of the Affordable Care Act. Who are we? We are the thousands of people who attended town hall meetings around the country to confront our elected officials, marched on the streets, and occupied the offices of our senators until we got arrested.
Early Friday morning, dozens of us who have been active in the fight against the ACA repeal stood outside the Capitol, bleary-eyed from exhaustion and tears and holding on to each other for moral support. We were stunned and elated when the ‘skinny’ repeal vote failed.
Read the full article here.
Extras
The city of Saratoga Springs is considering a ban on the sale of guns and ammunition at the City Center, Mayor Meg...
The city of Saratoga Springs is considering a ban on the sale of guns and ammunition at the City Center, Mayor Meg Kelly announced this weekend in a welcoming speech to Local Progress New York.
Read the full article here.
Movement for paid sick leave gains ground
The New Crossroads - May 13, 2013, By Gregory N. Heires - Grassroots campaigns for local and state laws requiring...
The New Crossroads - May 13, 2013, By Gregory N. Heires - Grassroots campaigns for local and state laws requiring employers to provide their workers with paid sick days are gaining steam.
In the latest sign of the growing movement, the New York City Council approved legislation that would make 1 million workers eligible for paid sick days.
The passage of the bill capped a three-year fight for the legislation by unions and health-care advocates.
But the legislation faces a possible veto by billionaire Mayor Michael Bloomberg, who has said he would not sign the bill into law. However, the City Council approved the legislation by a veto-proof margin.
On the day of the vote, Kristin Rowe-Finkbeiner, executive director of MomsRising.org, an online and on-the-ground grassroots organization of more than a million people who are working to achieve economic security for all families in the United States, said, “It’s been a long fight, but today the New York City Council heeded the call of New York families and passed a bill that would allow more than a million New Yorkers to earn paid time off to use when they are sick or to take care of a sick child, spouse or parent.”
Rowe-Finkbeiner called upon Bloomberg to “stand up to corporate lobbyists, listen to the people who elected him and sign this important bill.”
The new paid sick leave bill, which the Council passed by a 45-3 vote, would go into effect in April 2014. Initially, the law would require businesses with 20 or more workers to provide five paid sick days to its employees.
In October 2015, it would be expanded to cover firms with 15 or more workers. Furthermore, the law would protect workers who are not entitled to paid sick leave from being fired if they take time off.
“This is a sweet victory,” Bill Lipton, state director of the Working Families Party, told The New York Times. “It provides economic security for New Yorkers, and a shot in the arm for the paid sick days movement across the country.”
The Working Families Party and MomsRising.org were part of a coalition that included the New York City Central Labor Council, the Center for Popular Democracy, the New York City Council’s Progressive Caucus, 32 BJ SEIU, Make the Road New York, A Better Balance and NY Paid Sick Leave Coalition.
New York City joins an increasing number of municipalities and states that are supporting sick pay legislation. San Francisco, Washington, D.C., and Milwaukee have adopted paid sick day laws. Pushes for similar legislation are underway in nearly 20 cities and states, including Denver, Miami, Seattle, Arizona, California, Colorado, Connecticut, Hawaii, Illinois, Iowa, Maine, Massachusetts, Michigan, Minnesota, New Jersey, North Carolina, Pennsylvania, Vermont, Washington and Wisconsin.
In March, Sen. Tom Harkin (D-Iowa) and Rep. Rosa DeLauro (D-Conn.) introduced the Health Families Act. The legislation would allow workers to earn paid sick leave that they could use for personal illnesses, caring for a sick family member, preventive care or treatment for domestic violence.
In the United States, 40 million people work in jobs that don’t offer paid sick leave. One million workers in New York City, primarily low-wage workers, don’t have paid sick days.
In addition to arguing that workers have the right to paid sick leave, supporters of the New York City bill argued that the policy simply makes common sense. Faced with the prospect of losing pay, workers without the right to paid time off often decide to go to work when they have contagious illnesses. Furthermore, workers are less productive when they are ill.
“It’s an incredible feeling to know that I won’t ever again have to choose between my child’s health and my job,” said Juana Sanchez, who has three children and is a member of Make the Road New York, a Brooklyn-based community organization that represents Latino and other low-income workers.
“I believe this law enshrines the principle that American exceptionalism is not just about large profits and small elites, but a workplace that is safe, fair and respectful of the lives of workers,” said City Council member Gale Brewer, who first introduced the bill in 2009.
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High Road Workweek Partnership Invites Employers to Adopt a Fair Workweek
High Road Workweek Partnership Invites Employers to Adopt a Fair Workweek
As more retailers declare nationwide reforms to their scheduling practices – from ending on-call scheduling to...
As more retailers declare nationwide reforms to their scheduling practices – from ending on-call scheduling to providing greater advance notice – there is increased industry interest in understanding the impact of difficult work schedules on employees. Leading-edge employers are also starting to quantify the down-stream effects of ever-changing work schedules and excessive reliance on part-time staff, including higher turnover, chronic absenteeism, lower productivity, and unsatisfactory customer service. Many industry leaders now recognize that predictable, stable and flexible work schedules are not just good for employees, but are essential to meeting operational, sales and growth objectives.
At the Next:Economy summit, the Center for Popular Democracy’s Fair Workweek Initiative will unveil the High Road Workweek Partnership, a groundbreaking approach to the future of work, which meaningfully incorporates employee voice and scheduling equity values into scheduling technologies and management practices.
Achieving a High Road Workweek involves three key components:
A Partnership of Core Stakeholders: With a 360 degree view from engaging diverse stakeholders, employers can assess the impact of their current scheduling practices and envision a sustainable workweek;
The High Road Workweek Pledge: Translates core business principles into specific scheduling practices that encompass: Predictability and Stability, Adequate Hours, and Employee Input and Flexibility, and Equal Opportunity and Mobility; and
Measurable Implementation and Assessment: Innovative scheduling technologies, guidance for managers, and clear metrics will facilitate implementation of the pledge, while ongoing feedback from employees and a research-based assessment will ensure that new policies deliver the intended outcomes.
The High Road Workweek Partnership delivers lasting scheduling solutions and provides a framework for employers who want to be strongly positioned in the global economy, leveraging the latest technologies and integrating corporate social responsibility into workforce management to create meaningful employment.
“Employers of our country’s hourly workforce are at a crossroads. The worrisome scheduling trends that have come to public attention are persistent and challenging issues that affect both workers and the longevity of a company’s success. Through a meaningful collaboration with employees, a commitment to core scheduling principles, and an innovative use of workforce management metrics, any business is capable of implementing a high road workweek,” says Carrie Gleason, Director of the Fair Workweek Initiative at the Center for Popular Democracy.
Professor Susan Lambert of the University of Chicago, a key architect in developing the framework for scheduling stability, says, “While this year marks tremendous progress in employers recognizing the costs that lean staffing and unpredictable scheduling has for both workers and business, employers will need to implement new metrics for their managers and find ways to incorporate more employee input to ensure these commitments to reform become consistent scheduling improvements. The High Road Workweek Partnership presents an innovative approach to helping employers implement measurable standards for fair work schedules across their operations.”
# # #
www.populardemocracy.org The Center for Popular Democracy promotes equity, opportunity, and a dynamic democracy in partnership with innovative base-building organizations, organizing networks and alliances, and progressive unions across the country. CPD builds the strength and capacity of democratic organizations to envision and advance a pro-worker, pro-immigrant, racial justice agenda.
www.fairworkweek.org The Fair Workweek Initiative, anchored by the Center for Popular Democracy and CPD Action, is driving the growing momentum to restore a workweek that enables working families to thrive. We are committed to elevating the voices of working people to ensure they can shape the solutions that work for their families – whether through improved industry practices or new workplace protections.
'Substantial risk' that Fed is about to make a serious mistake, Pimco advisor says
'Substantial risk' that Fed is about to make a serious mistake, Pimco advisor says
For years, the Fed faced criticism that it wasn't being aggressive enough in raising rates. Now that it has started to...
For years, the Fed faced criticism that it wasn't being aggressive enough in raising rates. Now that it has started to hike, the central bank is under increasing fire for moving too soon.
The latest scrutiny comes from Joachim Fels, global economic advisor at Fed bond giant Pimco, who said the Fed shouldn't be tightening policy with the evidence so clear that it is falling well short of its inflation mandate.
Read the full article here.
Watch My Morning Jacket’s Jim James and Andrew Bird Play New Version of “Sic of Elephants”
Watch My Morning Jacket’s Jim James and Andrew Bird Play New Version of “Sic of Elephants”
In July, Andrew Bird began a new series called “Live From the Great Room,” where he performed an acoustic set in his...
In July, Andrew Bird began a new series called “Live From the Great Room,” where he performed an acoustic set in his living room with a guest. Today, he’s released an updated version of Soldier On’s “Sic of Elephants,” he originally played with My Morning Jacket’s Jim James for the series. The updated song is being released as part of the anti-Trump 30 Days, 30 Songs series, and it is Jim James’ second release for the program. Below, watch them perform “Sic of Elephants.” Read Bird’s statement on why he updated the song here, and revisit Bird and James’ full living room performance here.
30 Days, 30 Songs will continue to release at least one new song or video daily until Election Day (Tuesday, November 8). The entirety of 30 Days’ proceeds will go to the Center for Popular Democracy and their efforts toward Universal Voter Registration for all Americans. Previous 30 Days releases include songs from Sun Kil Moon and Jesu, EL VY, Filthy Friends, Death Cab for Cutie, Franz Ferdinand, and others.
By Kevin Lozano
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JPMorgan Chase Is Funding and Profiting From Private Immigration Prisons
JPMorgan Chase Is Funding and Profiting From Private Immigration Prisons
One of America's largest banks, JPMorgan Chase, is quietly financing the immigration detention centers that have...
One of America's largest banks, JPMorgan Chase, is quietly financing the immigration detention centers that have detained an average of 26,240 people per day through July 2017, according to a new report by the Center for Popular Democracy and Make the Road New York. Through over $100 million loans, lines of credit and bonds, Wall Street has been financially propping up CoreCivic and GeoCorp, America's two largest private immigration detention centers.
Read the full article here.
Markets to Fed: See you next year
MARKETS TO FED: SEE YOU NEXT YEAR! — Asia followed Wall Street higher on hopes the Fed might take weak jobs data into...
MARKETS TO FED: SEE YOU NEXT YEAR! — Asia followed Wall Street higher on hopes the Fed might take weak jobs data into account and wait until next year to hike rates. … Reuters: “Fading expectations that the U.S. Federal Reserve will raise interest rates this year and a bounce in oil and commodity prices helped lift Asian stocks to two-week highs on Tuesday …
“‘One of the two big persistent concerns has faded, so investors are taking risks,’ said Masashi Oda, senior investment officer at Sumitomo Mitsui Trust Bank, referring to expectations of a near-term Fed hike. … Japanese shares garnered further momentum from speculation that the Bank of Japan might expand its massive stimulus program to support the flagging economy”http://www.reuters.com/article/2015/10/06/us-global-markets-idUSKCN0S001I20151006
M.M. SIDEBAR — Seems like wishful thinking. The FOMC is almost certain to hit the liftoff button by December unless jobs growth really falls off a cliff, which appears unlikely based on other data. It remains possible that both August and September jobs figures will get revised higher. And even a slightly sub-200K pace is enough to keep unemployment dropping to what the Fed generally considers full employment (though nobody actually knows exacly what full employment is). Of course a messy debt limit fight actually could push the Fed off into 2016 but it would likely take markets down with it.
“FED UP” PROTESTERS TO HIT PHILLY — POLITICO's Zachary Warmbrodt: “Activists lobbying against a Federal Reserve interest rate increase as part of the so-called ‘Fed Up’ campaign are planning to hold a protest targeting new Federal Reserve Bank of Philadelphia president Patrick Harker on Tuesday afternoon. Around 15-20 people including workers, small business owners and clergy are expected to participate in the protest, which is aimed at pressuring Harker to meet with the coalition and take a tour of low-income neighborhoods …
“Kendra Brooks, who leads the local Fed Up coalition and is an organizer for Action United, is attending Harker's event but says she has been urging him to meet with more members of the community beyond the heads of non-profits and corporations … Brooks tried to get a commitment from Harker at the Fed's symposium in Jackson Hole, and their chat is on YouTube:https://www.youtube.com/watch?v=2h-GN7cHDAc
WILL HILLARY FLIP FLOP ON TPP? — POLITICO's Victoria Guida: “Hillary Clinton has presented herself as a skeptic of the biggest trade deal in history, saying this summer that ‘we should prepared to walk away’ from the 12-nation Trans-Pacific Partnership unless it boosts Americans' wages and national security. But with a deal announced Monday after months of backstage wrangling, Clinton will be under intense pressure to take a stance.
“The deal is one of the most ambitious items left on President Barack Obama's White House bucket list. But his former secretary of state owns it too, even though she has expressed increasing ambivalence about its details and could soon disown it outright, as some in her circle have suggested. … [R]eacting to the polarizing TPP deal is one of the most excruciating policy decisions of her campaign thus far - and far more politically perilous with Democratic primary voters than her backing of Obama's Iran deal.” http://www.politico.com/story/2015/10/hillary-clinton-trade-dilemma-214456
BIGGEST TPP WINNER: JAPANESE AUTO MAKERS — Per Bloomberg’s list of winners under the trade deal: “Japanese car and auto-parts makers may be the biggest winners, as they get cheaper access to the U.S., the industry’s biggest export market” https://www.bloomberg.com/news/articles/2015-10-06/tpp-trade-deal-who-stands-to-benefit-suffer-in-asia-pacific
FIRST LOOK: “TAX HAVEN SEX MANSION” — Can't resist a headline like that, eh? Bloomberg Businessweek piece up at 7:00 a.m. by Zeke Faux “investigates how Abe Zeines and Muir Hurwitz, two sons of an ultra-religious Jewish neighborhood in Brooklyn piloted a shady new kind of finance — ‘merchant cash advance’ — made a fortune, and then saw it all come to an end.” The two now live in a "tax-haven sex mansion in Puerto Rico.” As one does. https://www.bloomberg.com/authors/AP5w7epl1Xo/zeke-faux
LITAN RESPONDS — Bob Litan writes in FORTUNE: “Sen. Warren clearly disagrees with our study, but rather than address its reasoning and facts, she claimed my disclosure was vague (which it was not) and that I was misusing my non-resident perch at Brookings by identifying that position in a footnote (a newly established Brookings rule of which I was unaware but promised Brookings I would not run afoul of again), though I never mentioned my Brookings affiliation at the hearing. …
“I can only speculate why Sen. Warren has been so interested in our research, but I suspect it is because, even with its disclosed sponsor, the study exposed two major weaknesses in Labor’s proposal — which the Department may correct when it issues its final rule. But if it does not, these two points, at least in my view, make the rule susceptible to being overturned by a court as being arbitrary and capricious (or failing a benefit-cost test) if it is legally challenged” http://fortune.com/2015/10/05/elizabeth-warren-robert-litan-u-s-department-of-labor/
Litan’s pithy email response to M.M. on the whole affair: “Life in the big city.”
GOOD TUESDAY MORNING — Crazy Monday Night Football game. The Lions had a surprising road victory over the Seahawks in their grasp only to have Kam Chancellor poke the ball out of Calvin Johnson’s hands at the goal line. The Seahawks then illegally batted the ball out of the end zone for the touchback but the refs missed it. Should have been Lions ball at the goal line. Crushing blow. Massive officiating mistake. Email me at bwhite@politico.com and follow me on Twitter (like Kam Chancellor does!) @morningmoneyben.
THIS MORNING ON POLITICO PRO FINANCIAL SERVICES — Adam Behsudi on the TPP currency side deal that Congress might not like – [https://www.politicopro.com/financial-services/story/2015/10/pro-trade-tppcurrency-behsudi-056469] and to get Morning Money every day before 6 a.m.-- please contact Pro Services at (703) 341-4600or info@politicopro.com
** A message from Grant Thornton LLP: The tax code puts U.S. companies at a disadvantage. Congress can’t address the problem if it excludes pass-throughs from an innovation box or tax reform. Congress should lower the effective business tax rates equitably for all U.S. businesses. https://www.grantthornton.com/issues/library/articles/public-policy/2015/policy-issues/support-the-BER.aspx?utm_medium=ad-partnership&utm_campaign=public-policy-issues&utm_term=Public-policy&utm_content=article **
BLOOMBERG EVENT TODAY — The Bloomberg Markets Most Influential Summit takes place in New York, London and Hong Kong featuring Tom Steyer, Mike Bloomberg, Bill Ackman, Cliff Asness, Barry Diller, Blythe Masters and more https://www.bloomberglive.com/markets-most-influential/new-york/agenda/
SOFTBALL REPORT: FERC TAKES THINK TANK CROWN — Per AEI’s Michael Pratt: “FERC defeated the defending champs AEI 13-7 in the Think Tank Softball League Championships in a game under the lights in a field by Pentagon City. Congrats to the winning team - over 40 teams are part of the league.”
POSTCARD FROM THE NEW YORKER FESTIVAL — POLITICO’s Daniel Lippman reports: “Homeland” actor Damian Lewis told the New Yorker festival on Saturday that he's met with hedge fund managers like Bill Ackman and Dan Loeb to prepare for his upcoming new show about Wall Street called "Billions" (on which Andrew Ross Sorkin is an executive producer).
He asked the hedgies: "Give me your intellectual defense of being a hedge fund guy, of shorting companies and the one thing they could never really persuade me of, was that playing to a moral code that we might all conventionally understand, it wasn't possible for them to justify what they do. But if they just ever so slightly shifted the goal posts and created a new moral reality for themselves, which is essentially that as long as I don't break the law and as long as the game exists, I'm here to play the game and everything is fine."
BETTER MARKETS’ FUNDING QUESTIONED — National Review’s Brendan Bordelon goes long on hedge fund manager Michael Masters’ funding of pro-financial reform group Better Markets.” http://www.nationalreview.com/article/425063/elizabeth-warrens-wall-street-double-standard-brendan-bordelon
Better Markets’ Dennis Kelleher emails: “Wall Street has been trying to shut down, shut up or smear Better Markets since it was founded five years ago. Wall Street has little tolerance for anyone willing to stand up to them or who can’t be bought.
“Better Markets’ independence and effectiveness on the public’s behalf is what gets under Wall Street’s skin and why it has been shopping a fabricated story for months to anyone in the media who would listen. … [T]he story is so factually wrong it is laughable, as detailed here https://www.bettermarkets.com/blog/fact-sheet-better-markets%E2%80%99-response-wall-street%E2%80%99s-latest-attack”.
M.M. SIDEBAR — Anyone who knows Kelleher (agree or disagree with him on issues) knows he wouldn't be shilling for some hedge fund guy looking to tilt stock prices. But in an era when Bob Litan can get dumped from Bookings over a fully-disclosed source of research funding, everything seems to be fair game.
TOUGH ROAD FOR TPP IN CONGERSS — WP’s David Nakamura: “President Obama hailed the historic 12-nation Pacific Rim trade deal … as an accord that ‘reflects America’s values,’ but within hours the administration had turned from the negotiating table to selling the agreement on Capitol Hill, a reflection of the harsh political climate the controversial pact is expected to face in Congress. Obama pledged that [TPP] … would open new markets for U.S. goods and services and establish rules of international commerce that give ‘our workers the fair shot at success they deserve.’
“But almost immediately there were signs of the tough fight ahead to win final ratification from Congress next year. Lawmakers from both parties criticized the pact as falling short in crucial areas, raising the prospect that the White House could lose the support of allies who had backed the president’s trade push earlier this year" http://www.washingtonpost.com/business/economy/deal-reached-on-pacific-rim-trade-pact/2015/10/05/7c567f00-6b56-11e5-b31c-d80d62b53e28_story.html
SHARP PRICE INCREASES DRIVE DRUG COMPANY REVENUES — WSJ’s Joseph Walker: “Demand for a drug called Avonex has declined every year for the past 10. Not a problem for its manufacturer. U.S. revenue from the drug has more than doubled in that time, to $2 billion last year. The key: repeated price increases. The multiple sclerosis drug’s maker, Biogen Inc., raised its price an average of 16 percent a year throughout the decade — 21 times in all.
“It is an example of drug companies’ unusual ability to boost prices beyond the inflation rate to drive their revenue, even when demand for the drugs doesn’t cooperate. A result of this pricing power is that across 30 top-selling drugs sold by pharmacies, U.S. revenue growth has far outpaced demand in the past five years … Revenue growth averaged 61 percent, three times the increase in prescriptions” http://www.wsj.com/articles/for-prescription-drug-makers-price-increases-drive-revenue-1444096750
BERNANKE ADMITS MISLEADING ON LEHMAN — NYT’s Andrew Ross Sorkin: “It is astonishing to hear a former Federal Reserve chairman acknowledge that he may have misled the public as part of an agreement with another senior government official about one of the most crucial moments in recent financial history — and that he now questions whether he should have “been more forthcoming.” But that is what Ben S. Bernanke says in his new memoir …
“That crucial moment? The bankruptcy of Lehman Brothers. Mr. Bernanke, in perhaps the most candid explanation of Lehman’s 2008 collapse, writes that he and Henry M. Paulson, then the treasury secretary, purposely obfuscated when asked about Lehman’s demise early on, allowing a narrative to develop that the government had purposely let the firm fail
“In congressional testimony immediately after Lehman’s collapse, Paulson and I were deliberately quite vague when discussing whether we could have saved Lehman,’ Mr. Bernanke writes. ‘But we had agreed in advance to be vague because we were intensely concerned that acknowledging our inability to save Lehman would hurt market confidence and increase pressure on other vulnerable firms.’” https://www.nytimes.com/2015/10/06/business/dealbook/in-ben-bernankes-memoir-a-candid-look-at-lehman-brothers-collapse.html?_r=0
GOOGLE BUYS INTO SYMPHONY — FT’s Joe Rennison and Richard Waters: “Alphabet, Google’s renamed parent company, is set to become the latest investor to back Symphony, joining a host of big banks in their attempt to dislodge Bloomberg’s dominant position in Wall Street messaging. Born out of the 2013 snooping scandal, where it came to light that Bloomberg News reporters had spied on bankers using its ubiquitous terminals, Symphony claims to offer a more secure way for people to communicate with each other.
“The service officially launched on September 15, unveiling tie-ups with McGraw Hill Financial, which will supply financial information from S&P Capital IQ, and News Corp’s Dow Jones unit, which will provide a live news feed to the platform. Symphony and Alphabet declined to comment. People familiar with the matter said the deal was yet to be finalised but one confirmed a WSJ.com report that the new funding round would value Symphony at about $650m.”https://www.ft.com/content/32dbcf1a-6ba1-11e5-aca9-d87542bf8673
ALSO FOR YOUR RADAR —
FIRST LOOK: MARANTIS JOINS VISA — Per release going out this morning: “Visa … day announced the appointment of former Acting U.S. Trade Representative Demetrios Marantis as Senior Vice President, Global Government Relations. Marantis joins Visa from Square, where he led global policy, government, and regulatory affairs. Marantis will report directly to William Sheedy, Executive Vice President, Corporate Strategy, M&A, and Government Relations at Visa Inc., and be responsible for all facets of Visa’s government relations activities
JOIN US — WOMEN RULE: TAKING RISKS AND TAKING CHARGE Women Rule live event series returns Wednesday morning at 8 am with “Women Rule: Taking Risks and Taking Charge,” a series of conversations with women who have braved the odds in their lives and careers. Vian Dakhil, Iraqi MP and voice of the Yazidi people being attacked by ISIS and her sister, Dr. Deelan Dakhil, the co-director of the Sinjar Foundation will headline the event. Featured speakers also include Sen. Tammy Baldwin (D-Wis.); Sarah LaFleur, Founder and CEO, MM. LaFleur, and former White House NSA and EVP of MacAndrews and Forbes, Frances Fragos Townsend. RSVP: http://www.politico.com/events/2015/10/women-rule-taking-risks-and-taking-charge-213943
NOW AVAILABLE: POLITICO PRO LEGISLATIVE COMPASS — POLITICO Pro, POLITICO’s premium subscription service, has released a first-of-its kind legislative data analytics and decision-making tool that helps policy professionals manage and act on legislation. Leveraging features such as a personalized dashboard, virtual whip count, bill text comparison and 20 years of data, users will not only save time but benefit from customizing and cross-referencing information, enabling them to make smarter and faster decisions. Schedule your demo today.
** A message from Grant Thornton LLP: When Congress fails to act, businesses suffer. More than 50 popular tax provisions expired at the end of 2014, including the R&D credit. Congress’s indecision on these provisions is impeding business planning and stifling growth. According to a Grant Thornton survey of top financial executives, more than half of companies that use the provisions do all their planning under the assumption that the extension will not occur. That’s a huge blow to the effectiveness of the provisions and a barrier to growth. The R&D credit is a major driver of entrepreneurial activity and high-paying jobs. Congress needs to act soon to reinstate these provisions and to make the R&D credit permanent. Find out what else Congress could do to strengthen the R&D credit and view survey findings at http://gt-us.co/1iOXJW5
Source: Politico
Vermont Workers’ Center at the Fore of Health Care Advocacy
VT Digger - January 12, 2014, by Morgan True - Last week’s pro-universal health care demonstration during Gov. Peter...
VT Digger - January 12, 2014, by Morgan True - Last week’s pro-universal health care demonstration during Gov. Peter Shumlin’s inaugural address drew attention locally and nationally, and left many wanting to know more about its organizers — the Vermont Workers’ Center, which has grown substantially in the past five years.
Founded nearly two decades ago as Central Vermonters for a Livable Wage, the nonprofit labor and human rights group has evolved into a substantial grassroots organization.
In 2001, as the Vermont Workers’ Center, the group affiliated with Jobs With Justice, a national pro-labor group, and is essentially that organization’s Vermont chapter. VWC founded the Health Care Is a Human Right campaign in 2008 because the cost of medical care and health insurance was creating crises for its members that “transcended” the workplace, according to the group’s website.
The campaign is viewed by some as a model for health care advocacy in other states.
Since launching the Health Care Is a Human Right Campaign, VWC’s annual budget has grown from $154,500 in 2008 to $638,700 in 2012, the latest publicly available tax filing from the group.
James Haslam, VWC’s director, said its current budget is close to $800,000, a more than fivefold increase since the campaign began. The money comes from donations and foundation grants in roughly equal parts, Haslam said.
The Ben & Jerry’s Foundation is its largest grantor, providing $50,000 this year, Haslam said. It has given the group $160,000 since 2010, including $35,000 to offer guidance to similar groups across the U.S. Grantees are voted on by a committee of Ben & Jerry’s workers, according to a statement.
“The Ben & Jerry’s Foundation supports grassroots organizations throughout the U.S. that are working for progressive social change and a more equitable society,” according to the foundation’s statement.
VWC also chose to start collecting dues from its members in 2014, Haslam added. The dues follow a sliding scale based on members’ ability to pay, he said.
The grassroots activists have strong affiliations with national labor and human rights groups including Health Care Now, Labor for Single Payer, National Economic and Social Rights Initiative, The Center for Popular Democracy and the Grassroots Global Justice Alliance, according to Haslam.
Kate Kanelstein, VWC’s lead organizer, is on Grassroots Global Justice Alliance’s national coordinating committee. Kanelstein was among those arrested during Thursday’s sit-in in the House chamber.
“We’re part of a broader people’s movement to turn things around for working people,” Haslam said.
Those connections have helped propel VWC to the forefront of national activism on universal public health care.
The National Economic and Social Rights Initiative provides strategic advice and training to VWC and similar groups throughout the U.S., said Anja Rudiger, director of programming for NESRI.
VWC has successfully, and appropriately, according to Rudiger, applied the principles of human rights advocacy to health policy by focusing on the hardship of individuals, rather than the “nitty-gritty” of policy debates.
By reframing access to health care as a human rights issue, VWC and others are able to highlight the injustices of the high cost of medical services and a for-profit health insurance system.
There are now Health Care Is a Human Right campaigns in Maryland, Pennsylvania and Maine. Groups in Oregon and Washington are also hoping to model health care advocacy work on the template created by VWC.
VWC is using the tactics and strategies of other human rights movements, including demonstrations and civil disobedience, which are well established, but have not previously been applied to health care, Rudiger said.
A ‘new environment’ and a national movement
Some have argued that last week’s demonstration hurt VWC’s credibility with the Legislature — one senator called the tactics “fascist” — but the demonstration has drawn increased attention from national groups and other advocates for universal health care.
Amnesty International, National Nurses United and more than 60 other labor and health care advocacy groups signed an open letter to the Vermont Legislature urging lawmakers to press on with Act 48, the state’s universal health care law. NESRI helped get many of the signatories to that letter, Rudiger said.
The Rev. William Barber, most famous for starting the Moral Monday movement, wrote a letter of solidarity, calling it immoral for people not to have access to medical care.
The backlash from lawmakers was anticipated, Haslam said, and he doesn’t think it hurts VWC’s ultimate goal of achieving universal access to health services.
“No one that truly supports universal health care is not going to support it because of a protest,” he said.
The visceral reaction from legislators may be partly because the Statehouse hasn’t been the venue for Occupy-esque demonstrations previously, said longtime State Curator David Schutz, though they’ve become increasingly common elsewhere in Vermont and nationally.
“It’s a new environment,” Schutz said, one ushered in by the October occupation of the governor’s offices in the nearby Pavilion Building.
That action was primarily the work of Rising Tide Vermont, the local affiliate of a national climate advocacy group, to protest the expansion of a Vermont Gas pipeline. The Workers’ Center helped organize that demonstration, which resulted in 64 arrests, though charges were later dropped.
Keith Brunner, the communication coordinator for the center, was among those arrested at the pipeline demonstration. Though he was present at the Statehouse last week, he was not arrested.
The only comparable event to Thursday’s demonstrations that took place in the Statehouse during the past 30 years was during the debate over civil unions in 2000, Schutz said.
It was necessary to rile official Vermont, Rudiger said, because it appears Shumlin has unilaterally stalled the state’s movement toward universal health care.
“It’s not about being disrespectful to lawmakers, it’s about highlighting the conditions in people’s lives that bring about those actions and that’s always what civil disobedience has been about,” she said.
Nationally, advocates for public universal health care were aware of the movement in Vermont, but few had received the news of Shumlin’s “wavering,” Haslam said.
Last week’s demonstration was an opportunity to get that message out and put Vermont back in the national spotlight in order to keep the momentum behind a universal health care program for the state, Haslam said.
VWC workers among those arrested last week
Many in Vermont’s political Twittersphere expressed surprise — or consternation — that several of Thursday’s demonstrators, including some who were arrested, are paid employees for the Workers’ Center.
In addition to Kanelstein, field organizers Shela Linton, Elizabeth Beatty-Owens, Avery Pittman and campaign coordinator Matt McGrath were among the 29 arrested.
Members, volunteers and staff were told at a planning meeting that the sit-in carried the risk of arrest, Haslam said. Those who participated in the sit-in chose to take that risk in order to push for legislative hearings on the governor’s single payer report.
The Workers’ Center employees who were arrested had “personal experiences with health care crises,” Haslam said. Many got involved because of that experience, and started out as members or volunteers before being hired.
Lobbying only a small part of what VWC does
The Workers’ Center is limited in its ability to lobby elected officials because it is a 501(c)(3) nonprofit. The organization is aware of that line, and takes steps to make sure it’s not crossed, according to Haslam.
Its field organizers are registered lobbyists, Haslam said, which is corroborated by the Secretary of State’s database.
The IRS threshold for tax-exempt nonprofits is whether lobbying activities constitute “a substantial part of its overall activities,” with expenditures on lobbying capped at 20 percent for a group the size of VWC.
The Vermont Workers’ Center keeps time sheets and records expenditures to ensure they meet the expense limits, Haslam said. Its 2012 990 tax filing, the most recent available, says those expenditures are available on request and does not list them.
Lobbying as part of the Healthcare Is a Human Right campaign is not a substantial portion of the center’s overall operation, Haslam added.
The group is involved in community organizing and leadership development, and helps build grassroots networks and coalitions on a broad array of issues, primarily labor-related, he said.
The Workers’ Center has supported striking FairPoint workers, recently unionized home care workers and workers at the University of Vermont who are trying to form a union.
They operate a workers’ hotline to field workplace complaints and employ an accountability monitor to help enforce Burlington’s livable wage ordinance.
The Workers’ Center also runs the People’s University for Learning and Liberation with a staffer dedicated to preparing workshops, skill building, continuing education for its members and affiliated groups.
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