March 16, 2022 | Revolving Door Project Newsletter
With each passing day, Biden and his party appear to be facing ever more severe political headwinds. Inflation remains elevated, with a new variant threatening to further aggravate supply chain problems. Meanwhile, the (warranted) response to the war in Ukraine has specifically pushed gas prices upwards. Add to this that the Federal Reserve appears eager to throw millions out of work to slow the economy and that some of Biden’s outstanding nominations are in peril thanks to his own, uncooperative co-partisans, and things are undoubtedly looking bleak.
March 15, 2022 | The American Prospect
Joe Biden pledged that as president he would hold polluters accountable. But in 2021, the number of criminal cases against polluters referred to the Justice Department dropped even lower than the year before. At best, DOJ officials have set their sights on bringing environmental crime enforcement back up to Obama-era levels—but not exceeding them. That’s a decidedly muted goal; environmental crimes enforcement was higher under George W. Bush than Obama, and has always been underfunded.
March 11, 2022
The Revolving Door Project released a new “Industry Agenda” report today breaking down the systemic flaws and increasing relevance of the carbon offset industry as the favored greenwashing strategy for big industries and high-polluting nations. The report highlights the policies and executive branch agencies of interest to players in both voluntary and compliance carbon markets in the United States.
March 09, 2022 | Revolving Door Project Newsletter
The Biden administration is continuing to ramp up economic pressure on Russia through a far-reaching sanctions regime. However, even as many experts praise the United States’ measures, particularly those aimed at Russian oligarchs’ overseas wealth, they are also questioning how effective they will be in the face of loopholes and implementation challenges.
February 23, 2022 | Revolving Door Project Newsletter
The Department of Justice Antitrust Division is once again stepping up its efforts to tackle the corporate greed that is helping to drive the recent spike in inflation. On Thursday, the Department announced that it would be bringing new scrutiny to supply chain profiteers. This is the latest indication that Jonathan Kanter’s Antitrust division is serious about tackling corporate consolidation and its ill-effects across the breadth of the economy. In recent months, the division has also set its sights on BigTech, shipping and rail, and meat, among other industries. It has simultaneously promised to change its approach to enforcement by bringing lawsuits instead of seeking settlements and begun the process of updating the guidelines it uses to review mergers. Altogether, that’s a big agenda.
February 11, 2022
Coalition Letter to Education Secretary Cardona: Withdraw All Oppositions to Student Debt Discharge in Bankruptcy Court
Dear Secretary Cardona:
We are writing today to thank the Department of Education for committing to reform its practices on opposing and appealing student loan discharges in bankruptcy court. Our organizations call on the Department to immediately withdraw oppositions to individuals seeking undue hardship discharges in bankruptcy proceedings while these reforms are being implemented.
February 11, 2022
Advocacy Organizations Ask Education Department to Stop Opposing Student Debtors in Bankruptcy Court
A coalition of 17 advocacy organizations called on Education Secretary Miguel Cardona to immediately withdraw his department’s opposition to student borrowers seeking to discharge their debt in bankruptcy court while the Department reviews its bankruptcy policies in a letter on Thursday. The letter can be read here.
February 09, 2022 | Revolving Door Project Newsletter
The federal government isn’t out from under the reign of Trump-era austerity yet and it looks like it won’t be for at least another month. Congressional appropriators have signaled that they will not have an omnibus spending deal in place by the time the current government funding agreement expires on February 18. They plan to enact a short-term funding agreement through March 11 to buy more time to reach a final deal.
January 25, 2022 | Talking Points Memo
If you search for the Civil Division of the Department of Justice (DOJ) on Google, you’ll find an overwhelming majority of search results are for the Civil Rights Division. That’s unsurprising — the average person is typically more aware of the Civil Rights Division’s work. And it makes sense: As the “crown jewel” of the DOJ, the division performs the crucial work of enforcing the laws that prohibit discrimination.
January 24, 2022
Since the Copyright Office provides expert recommendations and advice to Congress, the executive branch, and the courts, Disney’s recent employees may soon be advising government officials about copyright policy.
January 19, 2022
Since the start of the year, we have warned that failure to promptly fill vacant and expired seats on independent agency boards would undermine the Biden administration’s agenda across many issue areas. Now, as executive branch policymaking kicks into high gear across this administration, we are seeing examples of this warning becoming a reality.
January 11, 2022
Climate change poses a serious threat to everything the Securities and Exchange Commission (SEC) is meant to protect and oversee. The Commodity Futures Trading Commission (CTFC)’s “Managing Climate Risk in the U.S. The Financial System ”report makes this abundantly clear. The report concludes that climate change may “exacerbate existing, non-climate related vulnerabilities in the financial system, with potentially serious consequences for market stability”. Furthermore, the physical and transitional risks of climate change will likely lead to systemic and sub-systemic financial shocks. These shocks would cause “unprecedented disruption in the proper functioning of financial markets and institutions” and further marginalize communities underserved by the financial system. To fulfill its mandate, of maintaining fair, orderly, and efficient markets, protecting investors, and facilitating capital formation, the SEC must proactively ensure there is enough personnel to monitor and enforce regulations that will keep markets stable and adaptable.
January 11, 2022
New Report Warns That Insufficient Capacity at The SEC Might Limit its Role In the Fight Against Climate Change
Today, the Revolving Door Project released its SEC Climate Capacity Report examining the detrimental impact of capacity shortfalls on the Securities and Exchange Commission (SEC)’s climate work. This report is the second installment of its Climate Finance Capacity Project. The Climate Finance Capacity Project explores the power and responsibility that each of the Financial Stability Oversight Council’s member agencies has to address the climate crisis and consider how resource limitations threaten to limit their impact.
January 04, 2022
One tiny federal agency with 116 full-time employees and a $28.9 million dollar budget is in charge of regulating the global marine economy, which contributes $397 billion to the US GDP annually and accounts for 80 percent of goods shipped worldwide. That’s not just an apples and oranges discrepancy—that’s like an apple versus Apple. The budget for the military’s marching bands is fifteen times greater than the Federal Maritime Commission’s budget; the Marines alone have five times more musicians than the Commission has staff.