BPC's Financial Regulatory Reform Initiative commends the Financial Stability Oversight Council (FSOC) for enhancing the quality of its minutes released yesterday, and encourages it to take further steps to increase transparency. BPC has previously called on FSOC to enhance the quality of its minutes and these actions are a significant first step toward meeting that goal.
In anticipation of BPC's 2014 Housing Summit, we are excited to launch a new blog series, intended to give you a sneak peek behind the scenes as we finalize programming. We will ask a speaker to answer questions about what he or she looks forward to sharing with you at the summit. We will post a new entry every other week – so check back often.
Who’s in Iraq? Why are there various names for the terror group in Iraq?
The terrorist group marching through Iraq and slowly taking control of large swaths of the country has been referred to by a variety of names by our government officials, the media and foreign policy experts. These include the Islamic State of Iraq and Syria (ISIS), the Islamic State of Iraq and al-Sham (ISIS), and the Islamic State of Iraq and the Levant (ISIL).
Recently, the House and Senate each passed bills to address the serious ongoing problems with the Veterans Health Administration under the Department of Veterans Affairs. Though the bills share several common reforms, a conference committee is expected to reconcile differences between the two and send a final package to President Obama’s desk.
Earlier this week, Sens. Bob Corker (R-TN) and Chris Murphy (D-CT) introduced bipartisan legislation that would shore up the Highway Trust Fund by increasing federal excise taxes on gasoline and diesel fuel by 6 cents per gallon over each of the next two years and indexing these taxes to inflation thereafter. According to the release, the proposal would raise $164 billion over the next decade, closing the trust fund’s shortfall during that time.
On June 17, BPC hosted a conversation on the Islamic State of Iraq and the Levant (ISIS) and the regional implications of Iraqi and Syrian instability.
On June 16, Turkey’s two main opposition parties, the social democratic Republican People’s Party and the rightist Nationalist Action Party, decided to nominate Ekmeleddin İhsanoğlu, the former Secretary-General of the Organization of Islamic Cooperation, as a joint candidate in the presidential elections scheduled for August 10.
The finger-pointing in the VA scandal has been bipartisan. Thankfully, the same is holding true in the initial search for solutions.
Many Americans, including those near retirement, have not saved enough. The Employee Benefit Research Institute finds that over 40 percent of Americans are at risk of running short of money for expenses in retirement. The combination of low saving rates, insufficient emergency funds, and increased responsibility for workers has left too many Americans without adequate savings for retirement to supplement their Social Security benefits.
Yesterday, Stanley Fischer was confirmed to be next Vice Chair of the Federal Reserve Board by the U.S. Senate. We think this is a good time to revisit his speech on the regulation of the financial system, delivered in August 2009.