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<\/a><\/p>\nImage by Mark Sardella<\/a> via Flickr<\/p>\n<\/div>\n BIPARTISAN SUPPORT FOR REID’S JOBS BILL:<\/b> On Monday, five Republican Senators joined Democrats to overcome procedural hurdles on a $15 billion jobs bill<\/a> with a 62-30 vote<\/a>, a necessary step to give the measure an up-or-down vote on the floor. Although the bill is not as ambitious as the $85 billion bill<\/a> given to Senate Majority Leader Harry Reid<\/a> (D-Nev.) by Sens. Max Baucus<\/a> (D-Mont.) and Chuck Grassley<\/a> (R-Iowa), the bill will provide a variety of packages that will help companies hire new workers. The Republicans senators that voted for the bill were newly elected Scott Brown<\/a> (R-Mass.), Susan Collins<\/a> (R-Maine), Olympia Snowe<\/a> (R-Maine), George Voinovich<\/a> (R-Ohio) and Christopher “Kit” Bond<\/a> (R-Mo.). Brown’s vote in particular has caught the ire of conservative activists<\/a> who feel he has already become a turncoat. Facebook and Twitter have become the front lines for criticizing Brown, with hundreds of people commenting and criticizing Brown’s vote. <\/p>\n CREDIT CARD REFORM TAKES EFFECT:<\/b> On Monday, the Credit Card Responsibility and Disclosure Act<\/a> took effect, changing many of the rules for credit cards. Among the most noteworthy provisions<\/a> is making sure consumers are aware of interest rate changes and allowing consumers to set a credit limit that cannot be exceeded. Although these changes will undoubtedly help the consumer, most of the changes are focused on providing more transparency to the consumer and are not expected to diminish credit card profits. Regulation on overdraft fees, though, is a different matter. According to the New York Times<\/i>, banks are conducing an intense lobbying effort<\/a> to protect overdraft fees, a cash cow for banks. CRP data supports this analysis: commercial banks spent more than $50 million<\/a> in lobbying expenditures in 2009. JPMorgan Chase & Co.<\/a>, which the Times <\/i>profiled in their piece, spent more than $6 million on lobbying alone in 2009. It remains to be seen if banks’ lobbying efforts will pay off or if the overdraft fee is doomed to regulation.<\/p>\n THE GRAND, OPULENT PARTY:<\/b> An analysis of the Republican National Committee’<\/a>s spending under Michael Steele<\/a> has shown a considerable increase in spending<\/a> according to Politico<\/i>. Comparing RNC spending in 2005 against 2009, Politico <\/i>found Steele has spent twice as much money than his predecessors in plane tickets, committee gatherings and other expenses. The findings come at an inconvenient time for Steele as the RNC and the Republican Congressional Campaign Committee<\/a> are both falling behind in gathering money for the 2010 elections. Indeed, our data shows the RNC has raised $101 million in 2009 but has spent $107 million. The Democratic National Committee<\/a>, on the other hand, has raised $92 million and has spent only $88 million. You can examine for yourself how the political parties stack up on our website by clicking here<\/a> or examine RNC expenditures by clicking here<\/a>.<\/p>\n Have a news tip or link to pass along? We want to hear from you! E-mail us at press@crp.org<\/a>. <\/p>\n
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