First look: Dem group aims to register a million "health care voters"
Photo of the new HealthCareVoter.org website.
A Democratic group is launching a year-long, "multi-million dollar" campaign to register and mobilize one million "health care voters" to vote against Republicans who are trying to repeal and replace the Affordable Care Act. It's being sponsored by the Health Care Voter campaign, a coalition of more than 30 progressive organizations formed this summer to turn the 2018 midterms into a referendum on health care.
Why it matters: The campaign is starting one year from the midterms as a way to encourage voter turnout among Democrats, keep health care as a top voting issue, and to target Republicans on their repeal-and-replace efforts. The group's main challenge: Democratic turnout tends to drop during midterms, and they'll only succeed if they can buck the trend.
The launch video features high-profile Democrats like House Minority Leader Nancy Pelosi, DNC Chairman Tom Perez and former HHS Secretary Kathleen Sebelius and urges people to “hold Republicans accountable for their votes."
The details: The campaign will start with events in Nevada, Arizona and Iowa today, with more planned for Ohio and Pennsylvania later this week. It will include organized events at the local level, such as canvassing focused on getting more voters to join the campaign, as well as visits to local lawmakers' town halls and offices, and paid TV, digital and radio ads across the country.
National security bill could take toll on U.S. startup investments
Illustration: Sarah Grillo / Axios
Congress is working on legislation that could theoretically prevent a San Francisco-based venture capital firm from investing in a Los Angeles-based startup. It could also stop a New York-based private equity firm from acquiring an Indianapolis-based tech company.
Bottom line: None of this is intended. But that's the thing about trade wars: They can come with a whole slew of unintended consequences.
At issue is the CFIUS fix bill being pushed by Sen. John Cornyn (R-TX), with bipartisan support in both chambers and from the White House. In its current incarnation, the legislation could prevent U.S. investment funds from investing in sensitive U.S. tech companies (e.g., semiconductors, cybersecurity software, etc.), so long as those funds have any Chinese limited partners.
Investment industry trade groups are working to gain support for carve-outs, arguing that most of these limited partners are passive. And that's gaining some traction in the House, but less in the Senate (so far). Treasury just seems to want a bill done, so it's fairly agnostic.
Complications:
Legislators generally dislike carve-outs.
Many VC funds are currently exempt from most SEC reporting requirements, so it could be difficult for CFIUS to know identities of VC firm LPs, what percentage of the funds rhey hold or if they have control.
Private equity funds do have a bit more scrutiny on them, but Dodd-Frank rollback efforts and SEC budget cuts could soon create VC fund parallels.
There is also a separate discussion about Treasury using emergency powers to restrict Chinese investments in U.S. companies, which could result in reciprocal action that would make it harder for U.S. firms to invest in China.
