Jan 28, 2017

GOP's first Obama targets

Asim Bharwani / Flickr Creative Commons

Repealing Obamacare will take awhile. But this week, House Republicans will begin overturning regulations President Obama finalized on his way out of office, including rules on climate change and background checks to buy a gun. A "joint resolution of disapproval" needs just a simple majority from each chamber to get to President Trump's desk.

AP's Kevin Freking rounds up arguments for and against each of the early targets:

  • Rule to reduce methane emissions on public and tribal lands.
  • Rule to lessen the environmental impact of coal mining on streams.
  • Rule to increase disclosure requirements for federal contractors.
  • Rule requiring companies to disclose payments made to the U.S. and foreign governments relating to mining and drilling.
  • Rule requiring the Social Security Administration to forward the names of some disabled beneficiaries to the Justice Department for inclusion in the National Instant Criminal Background Check System.

Go deeper

SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

Trump indulges Wall Street with Milken pardon

Photo Illustration: Sarah Grillo/Axios. Photo: Chris Graythen/Getty Images

Donald Trump loves Wall Street shenanigans. Companies owned by him have declared bankruptcy six different times, and he was once sued alongside Mike Milken for participating in a scheme to artificially inflate junk-bond prices.

Driving the news: Trump pardoned Milken this week, with an official statement positively gushing over Milken's role in developing the wilder side of fixed-income capital markets.