Showing posts with label 1US. Show all posts
Showing posts with label 1US. Show all posts

Tuesday, November 26, 2013

UPDATE 1-U.S. Supreme Court agrees to hear Obamacare contraception cases

UPDATE 1-U.S. Supreme Court agrees to hear Obamacare contraception cases
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/28790__p-89EKCgBk8MZdE.gif




Tue Nov 26, 2013 12:18pm EST



(Adds details of the cases)


By Lawrence Hurley


WASHINGTON Nov 26 (Reuters) – The U.S. Supreme Court agreed on Tuesday to consider religious objections made by corporations to a provision of Obamacare requiring employers to provide health insurance that covers birth control.


Oral arguments will likely be scheduled for March, with a ruling due by June.


The so-called contraception mandate of the 2010 Patient Protection and Affordable Care Act, known as Obamacare, requires employers to provide health insurance policies that include preventive services for women that include access to contraception and sterilization.


The key question before the court in the two cases it agreed to hear is whether corporations should be treated the same as individuals when making free exercise of religion claims under the First Amendment of the U.S. Constitution and a 1993 federal law called the Religious Freedom Restoration Act.


One of the cases was filed by arts and crafts retailer Hobby Lobby Stores Inc and Mardel, a chain of Christian bookstores. Both are owned and operated by David and Barbara Green and their children, who are evangelical Christians. The administration of President Barack Obama sought the high court’s review in that case after losing before a federal appeals court.


The other case was brought by a Mennonite family that owns a company in Pennsylvania, Conestoga Wood Specialties. The company, which lost in federal appeals court, is owned and operated by Norman and Elizabeth Hahn and their three sons.


The court took no action on a third case filed by Michigan companies Autocam Corp and Autocam Medical LLC.


The cases are not a direct challenge to the mandate itself. The question is whether closely held companies owned by individuals who object to the provision on religious grounds can be exempted from the requirement.


The legal questions surrounding U.S. Health and Human Services regulations issued under the preventive health provisions of the Obamacare law have not previously been before the court. In June 2012, the justices upheld the constitutionality of the law’s core feature that requires people to get health insurance on a 5-4 vote.


The cases are Sebelius v. Hobby Lobby and Conestoga Wood v. Sebelius, U.S. Supreme Court, No. 13-354, 13-356. (Reporting by Lawrence Hurley; Editing by Howard Goller and Vicki Allen)






Reuters: Financial Services and Real Estate




Read more about UPDATE 1-U.S. Supreme Court agrees to hear Obamacare contraception cases and other interesting subjects concerning Real Estate at TheDailyNewsReport.com

Wednesday, November 20, 2013

UPDATE 1-U.S. Republican Senator Corker to support Yellen as Fed chief

UPDATE 1-U.S. Republican Senator Corker to support Yellen as Fed chief
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/36e0d__p-89EKCgBk8MZdE.gif




Wed Nov 20, 2013 12:08pm EST



WASHINGTON Nov 20 (Reuters) – Janet Yellen’s bid to lead the Federal Reserve won a significant boost on Wednesday when one of her biggest critics in the U.S. Senate said he had decided to support her nomination.


Republican Senator Bob Corker of Tennessee said in a statement that he would set aside his reservations about Yellen because he believes she will bring more transparency to the U.S. central bank and has pledged to reduce Fed bond purchases as soon as economic data support such a move.


“In the end, I do believe she has the qualifications necessary to be the Fed chairman and plan to support her nomination,” said Corker, who voted against Yellen’s nomination as Fed vice chair in 2010.


Corker is a member of the Senate Banking Committee, which will vote on Thursday on whether to send Yellen’s nomination to the full Senate. Although she is expected to win confirmation relatively easily, Corker’s support could help persuade a handful of other Senate Republicans to drop their opposition.


Yellen’s nomination needs 60 votes to overcome procedural hurdles in the Senate, where Democrats control 55 votes.


Corker said he had changed his mind as a result of discussions with Yellen.


“I would prefer to see someone who held a more modest view regarding the limits of monetary policy on our economy, and I have been clear about that,” said Corker, a longtime critic of the Fed’s bond buying program aimed at holding down borrowing costs.


“During our discussions, she made a commitment to moderate purchases as soon as she believes the data supports that action and shows that the current status cannot continue,” Corker said.


He added that he was concerned about Yellen’s lack of experience in regulation of large, systemically important financial institutions and said he hopes she will “work hard to overcome this deficit and not just rely on others on the Fed board for this expertise.”


Corker also said he hopes Yellen will develop a cadre of market experts and practitioners who can help advise her in the event of another financial crisis.


“As a result of these conversations, I do believe she will bring a more transparent approach to Fed decisions and guidance,” Corker said.


“She will approach decisions with a more rules-based methodology. She understands that monetary policy is a blunt object, that distortions are occurring, and that the affluent disproportionately benefit from easy money policies.”






Reuters: Financial Services and Real Estate




Read more about UPDATE 1-U.S. Republican Senator Corker to support Yellen as Fed chief and other interesting subjects concerning Real Estate at TheDailyNewsReport.com