Economy

Rick Perry Can Help Launch the Next Great Era in American Energy
Trump‘s Energy secretary pick cuts through bureaucracy

Former Texas Gov. Rick Perry, President-elect Trump's nominee for Energy secretary, meets with Senate Majority Leader Mitch McConnell during a photo op in the Capitol on Jan. 4. (Tom Williams/CQ Roll Call)

Texas and energy are synonymous with one another. Most Americans probably think of the Lone Star State as an oil and gas economy with a lot of heft, and for good reason. The industry supports tens of thousands of jobs in the state and helps power one-third of the country.

But what many don’t know is that my state’s energy dominance isn’t confined to oil and gas alone — in recent years, Texas has become a leader in renewables, thanks in large part to former Gov. Rick Perry.  

Barack Obama Has Left the Building, Or At Least the Brady Room
Obama's hope fades a bit: 'I think we’re going to be OK'

At his final news conference as president, Obama wished the press, and the country, luck. (Chip Somodevilla/Getty Images)

In his final press conference as president, Barack Obama warned that economic and other forces could further divide Americans, and sent messages anew to Donald Trump, particularly that he could re-enter the political arena if “our core values may be at stake.”

Less than 48 hours before he will cede all powers of the presidency to Trump, the 55-year-old Obama, with more salt than pepper atop his head, showed flashes of the optimistic candidate who toppled both Hillary Clinton and Sen. John McCain, R-Ariz., during the 2008 presidential campaign. But by the end of the session, his concerns about the next four years appear to show through.

Obama Doubts Trump Can Govern Via Twitter, Admits Some Missteps
Outgoing president: Bitter partisanship means ‘we’re weakening ourselves’

President Obama, Rep. Frederica Wilson, D-Fla., Rep. Joe Crowley, D-N.Y., Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Nancy Pelosi, D-Calif., arrive in the Capitol Visitor Center on Jan. 4 for the meeting of House and Senate Democrats to discuss Obamacare. (Bill Clark/CQ Roll Call)

President Barack Obama used his final national television interview to express doubts that Donald Trump will be able to effectively govern by firing off tweets and offered some advice about the president-elect’s feud with the intelligence community.

In a lengthy interview that aired Sunday evening on CBS’s “60 Minutes” news program, Obama also acknowledged some mistakes — a rarity for the outgoing chief executive. Among them were missteps he made in dealing with Congress.

Opinion: Narrowing the Racial Wealth Gap
Do policies meant to address big problems aggravate an economic divide?

The incoming Trump administration and lawmakers should anticipate whether new policies will improve or aggravate wealth inequities, Shapiro and Asante-Muhammad write. (Bill Clark/CQ Roll Call file photo)

We have a proposition for the incoming Trump administration and the new Congress and it’s not a liberal or a conservative idea. It’s just a call for pragmatism when developing new federal policies over the next four years.

For too long, even when coming together to enact laws to accomplish noble goals, Congress and previous presidents have ignored the unintended effects of “one-size-fits-all” legislation on the racial wealth divide in this country. What seems like a great idea — making college more affordable, for example — can actually feed the divide.

Keeping America Competitive for Global Investment
Tax and regulatory reform could give U.S. competitive edge

President-elect Donald Trump's expressed frustration with overly burdensome regulations was a hallmark of his campaign. (Bill Clark/CQ Roll Call file photo)

The recent announcement that Japan-based SoftBank plans to invest $50 billion in the United States and create 50,000 jobs is good news for America’s economic competitiveness, and Washington, D.C. policymakers should take note of it. Foreign direct investment (FDI) in the United States is a powerful gauge of how America is faring internationally. When a global company such as Nestle, Toyota, or Siemens invests here, it is a vote of confidence in America’s economic strength that translates to employment for millions of American workers.

But multinational companies have unprecedented options for investment. Unfortunately, during the past 15 years, America’s share of the world’s FDI has shrunk from 37 percent in 2000 to only 22 percent this past year. The United States has forfeited a huge portion of its share in global investment, and our leaders in Washington need to take decisive action to reverse this trend.

Study: Economy Was Top Issue Among Millennial Voters
More voted for Trump than had said they were going to before the election, survey shows

Many young voters expressed dissatisfaction with both presidential candidates in last year’s presidential election. (Bill Clark/CQ Roll Call file photo)

A new study conducted after the election shows that the economy mattered most to millennial voters.

The study by the Millennial Impact Report surveyed 350 young voters they had surveyed in different waves throughout the election.

Obamacare Replacement Preoccupies GOP as Budget Votes Near
McHenry: House has enough GOP votes to adopt resolution triggering repeal

A plan to replace the 2010 health care law will emerge after Georgia Rep. Tom Price is confirmed as Health and Human Services secretary, President-elect Donald Trump said Wednesday. (Bill Clark/CQ Roll Call file photo)

Congressional Republicans’ struggle to take the first step toward repealing and replacing the health care law using a fiscal 2017 budget resolution intensified Wednesday, as they debated how soon to roll out a replacement and defended their coordination with their incoming president.

President-elect Donald Trump suggested in a press conference Wednesday that the repeal and replacement of President Barack Obama’s signature health care law will occur simultaneously or nearly simultaneously. While that timetable appears to defy what Republicans in the House and Senate have set out to do, top Republicans and their aides insisted that the incoming president and Congress are not at odds and that repeal and replacement will succeed.

What Would Martin Luther King Jr. Think of Obama, Followed by Trump?
Hypocrisy runs thick in the era of President-elect Trump

The Martin Luther King Jr. Memorial memorial, a tribute to the civil rights leader, is located on the Tidal Basin. (Tom Williams/Roll Call)

President Barack Obama and the Rev. Dr. Martin Luther King Jr. have both been praised for their sweeping rhetorical skills, an ability to seize the moment and provide the comfort and inspiration needed. Even their detractors — and they have plenty — would admit this. To live up to his own history, President Obama had a nearly impossible task in his farewell speech on Tuesday night from his adopted hometown of Chicago.

There was also the irony of the week to come, bookended by a celebration of the life and works of King and the inauguration of the next president, Donald Trump. After all, few would place “I have a dream” and “She should be in prison” in the same universe of lofty oratory.

Chao Drives Toward Quick Confirmation
Transportation designee wins bipartisan praise at Commerce Committee

Transportation Secretary-designee Elaine Chao testifies as her husband, Senate Majority Leader Mitch McConnell, looks on during her Senate Commerce Committee confirmation hearing on Wednesday. (Bill Clark/CQ Roll Call)

On Wednesday morning, Sen. Mitch McConnell’s most important title in the Senate wasn’t majority leader. It was husband.

“I regret that I have but one wife to give for my country’s infrastructure,” the Kentucky Republican quipped at the confirmation hearing for his spouse, Transportation Secretary nominee Elaine L. Chao. The line was borrowed from former Senate Majority Leader Bob Dole, whose wife, Elizabeth, once held the same Cabinet post.

Take Five: Todd Young
Indiana Republican collects drawings from his four children

Indiana Sen. Todd Young served three terms in the House before being elected to the Senate last year. (Tom Williams/CQ Roll Call file photo)

Newly sworn-in Indiana Republican Sen. Todd Young, 45, talks about Hoosier representation in the White House, his three daughters and one son, and his soccer career.