Labor Policy & the Midterm Elections | CalChamber
After months of anticipation, the midterm elections have come and gone, and there were quite a few noteworthy developments across the country in terms of labor policy. While the results of the elections overall were generally mixed, the restoration of a Democratic majority in the House of Representatives will put pro-labor members in charge of the House Education and Workforce Committee, which will have a big impact on the focus of the committee to say the least.
Indeed, right out of the gate, the presumptive incoming Chairman Bobby Scott (D-VA) went
on the record
saying that he intends to take up a minimum wage bill as the first order of business. In his words: “my expectation is we’d introduce something not identical to the
Raise the Wage Act
, which is $15 by 2024, but something very similar.”
Financial Regulators have the Chance to Provide Regulatory Relief for Businesses | CalChamber
In a divided Congress, there can be doubt about what can be accomplished, but financial regulators are in a strong position to continue enacting pro-growth policies that will keep the economy growing.
Key policymakers that have recommended reforms to the Dodd-Frank Act and Basel capital rules are now in place across the executive branch. Specifically, the regulators overseeing the banking sector – the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) – have clear instructions to tailor prudential requirements so they reflect the risk profile of individual firms.