On February 28, the White House announced that President Trump signed an executive order directing the administrator of the Environmental Protection Agency and the assistant secretary of the Army for Civil Works (Corps of Engineers) to review the Waters of the United States (WOTUS) Rule and restore the rule of law. Congressman Jim Banks (IN-03) praised this action that would ensure the rule promotes economic growth and minimizes regulatory uncertainty: “I hear repeatedly from my constituents that the main thing holding back small business owners and farmers is over regulation. The WOTUS rule is an example of Washington overreach that is affecting businesses, utilities, manufacturers, farmers and land owners across northeast Indiana. I’m pleased to see President Trump make the review and revision of this rule a priority.” As a reminder, the Indiana Chamber mentioned WOTUS as a burdensome regulation in its list of regulations we sought repeal of in a letter to Vice President Mike Pence and sent to the delegation.
The White House sent its initial budget guidance to federal agencies this week, outlining a $54 billion increase in defense spending and corresponding reductions to most non-security agencies. An Office of Management and Budget official told reporters that the Trump administration will propose a 10% increase in defense spending and funding bumps for national security-related efforts. But that will mean cuts to domestic programs as well as foreign aid.
Hoosier Seema Verma moved another step forward in her confirmation as the next administrator for the Centers for Medicare & Medicaid Services. On Thursday, the Senate Finance Committee voted 13-12 in support of her nomination, which now goes before the full Senate.
Senator Todd Young recently introduced the Investing in Student Success Act of 2017 as an out-of-the-box method of financing higher education. According to the Washington Examiner, “…the funding would not come from the federal government, but private companies who sign ‘income-sharing agreements’ with students. As the name implies, the investor finances the student’s tuition, in exchange for a percentage of the individual’s income for a set number of years after graduation.” According to Sen. Young, “Big picture here: There’s currently $1.2 trillion in outstanding student loan debt held by the federal government, and 43% of the roughly 22 million Americans with loans weren’t making payments as of Jan. 1. There’s certainly a need for some sort of way to finance your college education that does not place the risk on taxpayers.”
Congresswoman Susan Brooks (IN-05) invited former Indiana Chamber board member and current Indiana Economic Development Corporation President Elaine Bedel to be her guest at President Trump’s speech this week to the joint session of Congress.
I recently visited D.C. and met with the offices of congressional representatives Banks, Brooks, Bucshon, Hollingsworth and Messer. We discussed repeal and replacement of the Affordable Care Act, regulatory reform and our D.C. Fly-in event in September. Look for more in-depth information on my visits in next week’s report.