WASHINGTON, DC (BBN) – The Congressional Black Caucus and urban American cities such as Baltimore, Maryland are the true victors of the mid-term elections held on November 6, 2018.
[US Congressman Maxine Waters (D-CA) speaks to Capitol Intelligence/BBN using CI Glass on becoming the next Chairman of the House Financial Services Committee following a hearing with Federal Reserve Chairman for Supervision Randal Quarles. November 14, 2018]
The Congressional Black Caucus increased its membership by 7, giving it a stunning total membership of 55 Congresspeople. It is now the single most powerful group in the United States House of Representatives and is prepared to set the agenda on banking, health, jobs, and infrastructure over the next 24 months.
Key CBC members are set to takeover the most powerful committees. This includes US Congresswoman Maxine Waters (D-CA) taking over the US House Financial Services Committee; Elijah Cummings (D-MD) taking over the all powerful House Oversight and Government Reform Committee (OGR), Bobby D. Scott (D-VA) becoming chair of the Education and Labor Committee; DC’s non-voting representative Eleanor Holmes Norton taking over the US Transportation and Infrastructure Subcommittee on Highways and Transit; and Hank Johnson (D-GA) taking over the Judiciary’s Subcommittee on Courts, Intellectual Property, and Internet.
“The CBC will have five Committee chairmanships and for the first time in history that two African-Americans will hold two of the three top positions of the House: Jim Clyburn as Majority Leader and Hakeem Jeffries the House Democratic Chair,” CBC Communications Director Kamara Jones said.
Congressman Hank Johnson, whose district abuts Coca-Cola headquarters in Atlanta, said CBC members such as himself are open and determined to work with President Donald Trump and the Republican minority to get things done.
“There is really only 12-months to get legislation agreed before everything gets turned over the Presidential elections,” Johnson told Capitol Intelligence Group.
While considered a firebrand by the public, incoming US House Financial Services Committee Chair Maxine Waters is an extremely effective behind the scenes negotiator and will work with President Trump and Treasury Secretary Steven Mnuchin on issues of economic fairness, housing reform, and direct investment to America’s overlooked communities.
[US Treasury Secretary Steven Mnuchin filmed by Capitol Intelligence/BBN using CI Glass interviewed by The Hill Editor in Chief Bob Cusack and introduced by EJF Capital LLC COO Neal Wilson during The Hill newspaper The Hill Newsmaker forum in Washington, DC. September 27, 2018]
Outgoing Financial Services Chairman Jeb Hensarling (R-TX) told Capitol Intelligence that he was able to work with Waters to pass a significant number of bipartisan bills, something that surprises casual Congressional observers.
One of the most significant areas of common ground between President Trump and the Congressional Black Caucus is investing in US infrastructure as part of President Trump’s announced USD 1.5trln public-private infrastructure fund.
The Carlyle Group co-CEO Glenn Youngkin said he always tells major foreign funds who love to invest in emerging markets that the “greatest emerging market opportunity around the world today is to invest in US infrastructure. Rule of law, accountability of a work force, the dependability of construction and we have such a nascent industry investing in something which is our greatest need. This is why we are getting so excited.”
The privatization of Chicago’s Midway Airport and Maryland’s Baltimore Washington International Airport would easily raise billions upon billions of dollars for the cash strapped cities of Chicago and Baltimore if it were not for the ideological opposition of Chicago Mayor Rahm Emanuel and Maryland junior senator and Democratic presidential hopeful, US Senator Chris Van Hollen (D-MD).
[US Congressman Gregory Meeks (D-NY) speaks to Capitol Intelligence/BBN using CI Glass on privatization of New York’s JFK Airport at Thirdway event in Washington, DC. November 13, 2018.]
Queens, New York Congressman Gregory Meeks (D-CA) told Capitol Intelligence that he would ultimately like to see the Port Authority of New York and New Jersey go ahead with a circa USD 50bn privatization of JFK International Airport. Privatization receipts would go to creating new jobs in New York and at the same time combat New York City’s current infrastructure crisis.
The best example of Republican and Black elected officials working together is in Maryland, where Republican Governor Larry Hogan won the erstwhile Red State by stunning 22 points and won up to 35% of the African-American vote.
In an interview conducted by Carlyle Group co-Chairman and co-Founder David Rubenstein at the Economic Club of Washington, DC., Governor Hogan said he spend 80% of his time on economic development focused on making Baltimore an international business and financial center. Hogan works hand in hand with Baltimore Mayor Catherine Pugh, one of the top African-American women political leaders in the United States.
Already, Under Armour (NYSE:UAA) founder and CEO Kevin Plank is personally leading efforts to remake Baltimore into the Wall Street of the South via his USD 9.6bn market cap sports apparel business and personal investments, such as the luxury Sagamore Pendry hotel built on a defunct shipping pier on Baltimore harbor.
[Under Armour founder and CEO Kevin Plank filmed by Capitol Intelligence/BBN using CI Glass interviewed by The Carlyle Group co-Chairman and co-Founder David Rubenstein at the Economic Club of Washington, DC. November 27, 2018]
While Amazon (NASDAQ: AMZN) CEO Jeff Bezos patronizingly blew off the economic growth of Baltimore for the less-diverse Crystal City in Northern Virginia and Long Island City, NY, Kevin Plank owns and developed Port Covington in Baltimore that is undisputedly the ideal location for any Fortune 100 global headquarters.
Baltimore is also one of the most important financial centers in the United States as it is the headquarters of US asset management giant Legg Mason and the United States headquarters of TransAmerica Corporation subsidiary of Dutch multinational financial services conglomerate Aegon NV (NYSE: AEG).
While Wall Street sees President Trump and Treasury Secretary Steven Mnuchin’s Opportunity Zone program as a tax incentive, major foreign investors in Asia and Europe look at the program as a once in lifetime opportunity to build up the business in the world’s largest economy.
A Chairman of a major European insurance group agreed that to succeed in America, one needs to understand and embrace Black America. In fact, the biggest foreign investment failures, like money losing Kawasaki Locomotives in Armonk, New York, can all be traced to a lack of diversity both in management and where they locate their businesses.
The Congressional Black Caucus, with its fundamental principles of fairness and tolerance, is heralding a new era of civility in the Halls of Congress, according to US Congresswoman Joyce “Birdsong” Beatty (D-Ohio).
[US Congressman Joyce Birdsong Beatty (D-Ohio) speaks to Capitol Intelligence/BBN using CI Glass on the Congressional Black Caucus historic victory during the 20018 midterm election at the US House of Representatives. November 14, 2018]
The Congresswoman, whose district includes Ohio state capital Columbus, noted that Democrats and Republicans worked closely together with outgoing governor and former presidential candidate John Kasich, with incredible results both on the economic and social reform front.
By PK Semler in Washington, DC. Edited by Ariana Woodson.
For more information please call +1-202-549-3399 or email pks@capitolintelgroup.com
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