Federal Update: Debt Ceiling, Health Care, NAFTA, and More!
OCBC keeps a constant pulse on Congress’ activities to understand the impacts of decisions in Washington D.C. on Orange County’s economy. OCBC recently focused on federal policy in three main areas: national debt ceiling negotiations, health care and tax reform, and international trade. Congress left Friday for a two-week recess. Upon their return, the most pressing item for consideration is whether or not to raise the national debt ceiling by April 28 or risk a government shutdown, where a variety of federal offices would close. The national debt currently nears $20 trillion and legislators differ greatly on whether or not to cut spending or enact greater contingencies on an increased borrowing limit. Last week saw a roller coaster when it comes to health care with proposals to repeal and replace the Affordable Care Act falling off the docket and then returning for consideration as the Trump administration recognized their potential impacts on any future tax reform efforts. Currently, the only health care proposal officially on the table is the House GOP Blueprint released last June, which is not yet in legislative text. Additionally, OCBC is watching President Trump’s comments on NAFTA, as Mexico and Canada are California’s two largest trading partners. Despite denouncing NAFTA during the campaign, President Trump has since announced support for the agreement. In a recent presentation, Bruce Mehlem of Mehlman, Castagnetti, Rosen & Thomas, offered advice for 9 Things to Know About the Trump Administration. CLICK HERE to view the presentation. For more information, contact Bryan Starr, Sr. Vice President, Government Affairs.