Travis Horr

External Affairs @BetterMarkets | Former @IAVA | @USMC Infantry & #Afghanistan Vet | @Packers fan | #Maine native

[Brendan Pedersen @BrendanPedersen]

The Clarity Act has a Republican problem, thanks to weeks of fierce lobbying from an army of small, state-based banks.

I asked Sen. Mike Rounds (R-S.D.) what made bankers’ appeal so strong. “They know us,” Rounds said. “Each of us knows those people personally.”

[Brendan Pedersen @BrendanPedersen]

🧵I'm gonna try to make sense of what is happening with the Senate and Clarity Act as of this PM. The bill is *not dead yet* and a vote before recess remains possible.

1) Thune hasn't filed cloture. Without that, no vote. The Senate is supposed to leave tomorrow, Aug 7. But...

[Better Markets @BetterMarkets]

Read the latest issue of the Better Markets Beat, out now. https://t.co/DsglOx0ePK

[Brendan Pedersen @BrendanPedersen]

NEWS: The Clarity Act’s Republican problem is growing. Sens. Rounds (SD) and Lankford (Okla) told me today they've got outstanding worries with Clarity. The issue is stablecoin yield.

That makes as many as 5 GOP holdouts, *not* including GENIUS Nos (Paul, Hawley). Not great!

[Jake Sherman @JakeSherman]

Gigantic news from @BrendanPedersen

Clarity Act problems are growing

[Brendan Pedersen @BrendanPedersen]

👀 Majority Leader THUNE told reporters the Clarity Act likely won't pass the Senate before August. Asked about Clarity and NIL before recess, Thune said:

"I don’t think we’ll be able to get them done. I would like to at least get Clarity started. We’ll see where the votes are."

[Eleanor Terrett @EleanorTerrett]

🚨NEW: The @USHCC, which says it represents millions of Hispanic-owned businesses across the U.S., sent a letter to Senate leaders this week saying it shares community banks’ concerns that the Clarity Act could accelerate deposit flight. The group argues the bill would reduce lending to Hispanic-owned small businesses and weaken investment in underserved communities.

[Brendan Pedersen @BrendanPedersen]

News in AM: It’s not clear the Clarity Act has 50 votes in the Senate, let alone 60. GOP has problems.

Curtis (R-Utah) and Cornyn (R-Texas) told me last night they share banks’ concerns about deposit flight. Cassidy (R-La.) said he “might” have concerns. Tillis a “no” on ethics

[Amanda Fischer @amandalfischer]

Quick analysis of the laughable "ethics" language in this draft:
- POTUS can continue to profit from his existing crypto ventures
- He has a year plus to put his crypto ownership interests in a blind trust
- No restrictions on earning trading fee income or reserve asset income

[Travis Horr @travis_horr]

Busy day on Capitol Hill! Tune in soon to listen to @BetterMarkets Academic Advisory Board Co-Chair @ProfKateJudge give testimony on Federal Home Loan Bank (FHLB) System in @USHouseFSC: https://t.co/Ft4SPo00E7

[Travis Horr @travis_horr]

@HouseAgDems @BetterMarkets @AAmericanGaming @IndianGaming85 Read @BetterMarkets latest fact sheet on how prediction markets offer sports betting, and should be regulated as such, here: https://t.co/8xsHktJEKW

[Travis Horr @travis_horr]

Happy to be @HouseAgDems hearing on sports betting through "event contracts" and to represent @BetterMarkets. Excited to hear the testimony from @aamericanGaming and @IndianGaming85. Tune in here: https://t.co/FqlD1tzh0O

[Better Markets @BetterMarkets]

The economic, financial, and political consequences of the 2008 financial crash continue to reverberate throughout communities across the country. @DennisKelleher breaks down why the crash matters on @paulkrugman's podcast:

[Better Markets @BetterMarkets]

The National Credit Union Administration's GENIUS Act proposal puts credit union members' deposits at risk and lays the foundation for significant financial stability risks. See the link below to learn more about how stablecoins and credit unions don't mix.

[Better Markets @BetterMarkets]

Economic security for young Americans? In this economy? In recent years, wages have slowed, living costs have soared, and debt has become a defining feature of early adulthood. Read more via the link below.

[Better Markets @BetterMarkets]

ICYMI: Better Markets' @DennisKelleher joined @paulkrugman to discuss how economic & financial policymaking in DC impacts the wallets, pocketbooks & livelihoods of all Americans & the fight against a rigged economy, broken financial system & often corrupt political system. Link in the comments.

[Better Markets @BetterMarkets]

Fed Chair Warsh's heavily limited public communication is troubling. Congress must press him this week on how he intends to lead the Fed and on the Fed’s relentless, misguided deregulation of the banking system. Read more in the link below.

[David Dayen @ddayen]

Kirsten Gillibrand's son, right out of college, getting a $300 million valuation on his "trade stocks as derivatives" company is a particularly ugly payoff for the Senator's stalwart crypto support, writes our friends at @revolvingdoordc.
https://t.co/EH4YDUHBVW

[Better Markets @BetterMarkets]

Fed Vice Chair Bowman attended a private Bank of America dinner for its Wall Street clients during the FOMC blackout period—while the Fed considers capital changes worth billions to those same firms. Read more about this ethics violation in the link below.

[Revolving Door Project @revolvingdoorDC]

The crypto industry has given heavily to members on the powerful House Ways & Means Committee, which crafts tax policy. https://t.co/wOu78TH7hz