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Posts Tagged ‘Reform’

(Excerpt from a client folio published by Morgan Stanley)

Energy

This past year, energy issues dominated much of the policy agenda as oil touched $150 per barrel and gas prices soared past $4.00 per gallon across the country. With both oil and gas prices in retreat as the economy hits the brakes, energy policy has lost its urgency. The new Obama administration will have many ideas and proposals in the energy arena, and the issue is sure to generate attention, but not much sweeping action.

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(Excerpt from a client folio published by Morgan Stanley)

Miscellaneous Business, Labor and Manufacturing

A handful of other commercial issues currently dominate the attention of lawmakers and federal officials – payday lending reform, credit card abuse, union elections, infrastructure improvements – and Obama has identified each as a priority in 2009.

In general, Obama supports a more consumer protection-oriented approach than McCain would have. A good example was the Obama campaign’s focus on payday lending abuses. To protect lower-income individuals, Obama has announced his intention to cap interest rates on payday loans at 36 percent, while seeking to provide borrowers with clearer, simplified disclosures on loan fees, payments and penalties. He would encourage banks and credit unions to increase small-denomination, short-term consumer loans.

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(Excerpt from a client folio published by Morgan Stanley)

Financial Crisis/Economic Rescue

Obama envisions fiscal policy as a central tool for spurring the economy and blunting the coming recession. To build upon the first economic stimulus package passed in February 2008, Obama supports passage of a second stimulus bill to inject infrastructure and benefits-related spending into the economic engine (Obama did not vote on the final version of the first stimulus package). Obama has proposed a twoyear, $175 billion total package, with:

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