This Week In Washington DC, January 22, 2015

This Week In Washington

Top 5 Stories

1.      President Obama used his 6th State of the Union address to defend his record and champion new policies, touting an improving economy and calling on Republicans to back an ambitious domestic agenda designed to improve the fortunes of the middle class.

Look ahead: While few, if any, of the president's proposals are likely to gain traction in the current Congress, his policy prescriptions appear designed to set the Democratic Party on a more liberal course ahead of the 2016 election.

2.      Facing opposition from female lawmakers over language that could alienate younger and female voters, House Republicans abandoned plans to hold a vote on H.R. 36, which would have outlawed abortions after 20 weeks, instead moving forward with H.R. 7, which would permanently bar federal funding for abortion services.

Look ahead: Rep. Chris Smith, R-N.J., maintains the 20-week abortion ban "is only delayed—it will be up on the floor soon."

3.      The president proposed $320 billion in additional taxes—largely aimed at high-income Americans—over the next decade, to be used to fund $235 billion in tax breaks for moderate-income earners, as well as other programs.

Look ahead: Congressional Republicans criticized Obama's plan and warned the proposal risks derailing bipartisan efforts on tax reform.

4.      Sen. Joni Ernst of Iowa delivered the Republican Party's response to the State of the Union, emphasizing her own humble roots and combining calls for bipartisan cooperation with assertions of Republican dominance.

Look ahead: Ernst's remarks foreshadowed clashes with the administration over the Keystone pipeline, the federal budget, and abortion rights.

5.      Faced with a stagnant economy and the prospect of deflation, the governing council of the European Central Bank voted to purchase €60 billion in public and private sector assets on a monthly basis, from March 2015 through September 2016.

Look ahead: ECB President Mario Draghi acknowledged the quantitative easing could continue beyond the September 2016 deadline if inflation fails to rise near the bank's target of two percent.