Click here to receive the Daily Digest via email.
Bill Helps Solve Michigan’s Brain Drain (Lansing State Journal)
Sonja Karnovsky and Adam Watkins, co-Presidents of the University of Michigan chapter of the Roosevelt Institute | Campus Network, argue that a bill that would create a tax credit to reduce student loan costs for graduates who stay in-state, which is based on a Campus Network proposal, would also improve the state’s economy.
Street Protests Can Foil Congress (NYT)
Roosevelt Institute Fellow Dorian Warren suggests that anyone seeking to reform today’s Congress should look at the response to the filibusters of the Civil Rights era. Social movement politics pushed through filibuster reform in 1975, and similar pressures could help end today’s dysfunction.
Not So Fast: New Budget Deal Leaves a Lot to Deal With (MoJo)
Patrick Caldwell points out that the Ryan-Murray budget is only a broad framework, and Congress still needs to pass an omnibus appropriations bill to set spending levels on a program-by-program basis. With $46 billion to cut, that’s not going to be an easy process.
Looking for a Job? Congress Doesn’t Seem to Care (The Root)
Charles D. Ellison points out that while Congress continues to focus on the Affordable Care Act and the budget deficit, polling data shows that the majority of Americans would rather see their representatives shift their attention to jobs. Sadly, Congress seems to have missed these polls.
The Taper is Here, and the Stock Market Seems to Love It (Quartz)
Matt Phillips reports that the Federal Reserve has begun to taper its bond-buying program, and the S&P 500 shot up in response to the news. But the Fed isn’t done pushing for low inflation, so Phillips argues that the central bank will remain a major market presence.
The Fed Tapered Perfectly—Here’s What It Needs To Do Next (The Atlantic)
Matthew O’Brien explains how the Fed has managed to keep markets from reacting badly to tapering, as they did when the very suggestion was made back in May. He adds that with inflation still below target and unemployment still too high, expanded monetary policy will still be needed.
Charting a Mismatch in Housing Spending (Off the Charts)
Will Fischer looks at federal housing spending, which disproportionately subsidizes wealthier households and favors homeownership over renting. Since low-income renters are far more likely to need support, he says Congress should put more resources into rental assistance.
UAW Wants to Eliminate Two-Tier Wage System: Official (Reuters)
Ben Klayman reports on the United Auto Workers’ new push to eliminate dramatically lower pay for entry-level hires compared to veteran workers. A UAW vice president says that to do away with this system, they’ll need to organize non-union plants in the South.