All Blog Posts from Political Hotsheet

Senate Banking Committee chairman Chris Dodd on Monday announced plans to introduce a bill to immediately freeze credit card interest rates on existing balances.

In May, Congress passed The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act, which outlaws arbitrary increases in interest rates, fees or finance charges. But Dodd argues the new bill is needed because credit card companies have been "jacking up" interest rates in "a last ditch effort to squeeze customers" before the Credit CARD Act goes fully into effect next February.

It is unlikely that there are the votes in the Senate to pass Dodd's new legislation, but it may help him in a 2010 reelection campaign that is expected to be hard-fought. The longtime Democratic senator from Connecticut has faced criticism this year amid reports that he received preferential treatment from Countrywide Financial Corp. in securing a pair of home loans. He was cleared of wrongdoing by the Senate Ethics Committee.

Read full post…

Politics Today is CBSNews.com's inside look at the key stories driving the day in politics, written by CBS News Political Director Steve Chaggaris:

** Will liberals in Massachusetts be happy to see Obama?...

** The White House distances itself from Deeds...

** More public option in-fighting among Democrats...

PRESIDENT OBAMA TODAY: President Obama continues campaigning for embattled Democrats – this time in Boston for Gov. Deval Patrick, D-Mass., and in Stamford, Conn., for Sen. Chris Dodd, D-Conn., who are in tough 2010 re-election battles.

Mr. Obama will also make remarks at MIT on clean energy before the fund-raiser for Gov. Patrick.

If slow ticket sales for an Obama-led fund-raiser in a blue state are an indication of how hard things are for a candidate, then Patrick is truly having some issues. On top of that, liberal protesters promise to picket as well.

"President Obama blows into the bluest state tomorrow facing a cold shoulder from once true-blue admirers, as gay rights activists, anti-war protesters and vexed environmentalists vow to picket a fund-raiser he’s headlining for Gov. Deval Patrick - a marquee event that hasn’t even sold out," report the Boston Herald's Edward Mason and Hillary Chabot.

"As of last night, liberals who once braved frigid temperatures to behold Obama were shunning tickets to the fund-raiser at the posh Westin Copley Place featuring the president, sources told the Herald. And despite campaign denials, Patrick operatives reportedly were pushing the ducats - between $500 and $6,000 - by e-mail up to the last minute...

"Among the groups planning to dog Obama during his scheduled afternoon swing through Cambridge and Boston: Anti-war activists CODEPINK ... Environmental coalition 350.org ... gay marriage advocate Join the Impact-MA ."

Read full post…

Politics Today is CBSNews.com's inside look at the key stories driving the day in Politics, written by CBS News Political Director Steve Chaggaris:

**Previewing President Obama's health care speech...

**Dodd turns down health committee chairmanship

**More movement in race to fill Kennedy seat...

HEALTH CARE: President Obama's much-anticipated speech to a Joint Session of Congress starts at 8pm ET, but until then there will be two questions being asked: "What are the 'specifics' he's going to lay out in terms of health care?" and "What progress will the Senate make on their version of health reform today?"

With regards to the first question, Mr. Obama is walking a tightrope, especially regarding his support of the so-called "public option" or government-run health care. If he shows only tepid backing of it, the large number of liberal Democrats who support it will be sure to revolt moving forward. House Speaker Nancy Pelosi insisted yesterday that a public option will be in any legislation that comes out of the House.

However, if Mr. Obama comes out solidly in support of it then he risks backlash from the significant number of moderate and conservative Democrats in the House and Senate, who could derail his attempt at reform. There are at least a couple of dozen House Democrats who have said they'd vote against any bill that includes a public option and House leaders such as Majority Leader Steny Hoyer and Majority Whip Jim Clyburn have publicly backed off the call for a mandatory public option.

The Wall Street Journal's Jonathan Weisman and Janet Adamy report that the president will "endorse" the public option in his remarks tonight.

"President Barack Obama, in a high-stakes speech Wednesday to Congress and the nation, will press for a government-run insurance option in a proposed overhaul of the U.S. health-care system that has divided lawmakers and voters for months.

"White House officials say the president will detail what he wants in the health-care overhaul, as well as say he is open to better ideas on a government plan if lawmakers have them.

"Democratic plans call for requiring most Americans to carry health insurance. Failure to comply could cost families as much as $3,800 a year, according to a new Senate proposal.

"The president is likely to say that a government-run insurance plan, known as the 'public option,' will not provide a level of subsidies that give it an unfair advantage over private insurers, according to aides familiar with the speech preparations."

Read full post…

Sen. Chris Dodd, D-Conn., told stories about his friendship with Ted Kennedy during the memorial service Friday night for the late Senate icon.

"Generations of historians will chronicle his prolific efforts on behalf of others. I will leave that to them," Dodd began. "Tonight, I just want to share some thoughts about my friend. And what a friend he has been – a friend of unbridled empathy, optimism, and full-throated joy."

Dodd told of receiving phone calls from Kennedy at important times throughout his life such as when his children were born, when he lost the Iowa presidential caucuses last year and when he was treated for prostate cancer just a few weeks ago, when Kennedy showed his sense of humor.

"As I was coming out of surgery, I got a call from Teddy, his unique voice as loud and booming as ever. 'Well,' he roared, 'Between going through prostate cancer surgery and doing town hall meetings, you made the right choice!'

Read full post…

Updated 2:45 p.m. ET

Senator Christopher Dodd has been diagnosed with early stage prostate cancer and will undergo surgery early next month, but he says the diagnosis will not keep him from running to keep his seat in 2010.

"I'm running for reelection," the Connecticut Democrat told reporters in Hartford this afternoon, according to the Associated Press. "I'll be a little leaner, a little meaner, but I'm running.''

The AP reports that Dodd said he was diagnosed six weeks ago and that he is "very confident we're going to come out of this well."

"It's something that's very common among men my age,'' the 65-year-old earlier told the Hartford Courant. "In fact, one in six men will be diagnosed with prostate cancer at some point during their life.''

Dodd added that "I'm working some long and hard hours lately, and that will continue."

Because of the absence from the Senate of Edward Kennedy, who is battling brain cancer, Dodd has been the central player in the Senate battle over health care reform. He is the ranking Democrat on the Senate's Health, Education, Labor and Pensions (HELP) Committee.

Dodd also chairs the Senate Banking Committee. He garnered bad press last year when reports surfaced that he had gotten preferential treatment from Countrywide Financial for home loans; the Senate ethics committee is looking into the deals. Dodd says he did not receive special treatment.

Read full post…

A key Senate committee on Thursday unveiled significant new elements of health care reform legislation, including a plan for government-sponsored insurance and an employer mandate. The revised legislation is substantially cheaper than previous versions of the bill, according to the non-partisan Congressional Budget Office (CBO), with the changes bringing down the cost from previous estimates of $1 trillion to $611.4 billion over 10 years.

"We are on the cusp, on the brink of doing something here that is critical," said Sen. Chris Dodd (D-Conn.), who is leading health care reform efforts in the Senate Health, Education, Labor and Pensions Committee.

The HELP Committee will have to combine its legislation with legislation from the Senate Finance Committee, which is responsible for Medicaid provisions. The inclusion of Medicaid reforms could add to the total cost of reform significantly, but it would also help bring down the number of people in the United States left uninsured.

Analysis of the HELP bill (called the Affordable Choices Act) shows that it could bring down the number of uninsured to 34 million by 2019. If the Finance Committee expands Medicaid to anyone at 150 percent of the poverty line, as it is expected to do, it would cover an additional 20 million people. The combined result would bring coverage to 97 percent of Americans.

Read full post…

As President Obama today applauded a prescription drug deal he called a "major step forward" in health care reform, Sen. Chris Dodd (D-Conn.) stood by his side.

"Chris Dodd," Mr. Obama said, "has been an outstanding leader on a whole host of health care issues throughout his career."

The president is not the only major player in the Democratic party to come to Dodd's aid as he prepares for what looks to be a major reelection fight next year.

Sen. Ted Kennedy (D-Mass.) appears in Dodd's most recent campaign ad. The ad features Kennedy saying into the camera, "Today more than ever, we have a real opportunity to bring health care reform to Connecticut and all across America, and I believe that with Chris Dodd's leadership, our families will finally have accessible, affordable health care."

The theme of the ad appears to set up what could be the central focus of Dodd's reelection push -- health care. While Dodd has taken up many issues throughout his 28-year Senate career, he is taking an increasingly high profile role in the current health care debate on Capitol Hill.

"Clearly, Sen. Dodd by engaging Sen. Kennedy in his ad, has upped the ante of the importance for him on delivering on this issue," Tom Swann, executive director of the Connecticut Citizen Action Group, told Hotsheet. The CCAG is a Connecticut public advocacy organization that focuses on issues like health care and the environment.

Read full post…

Appearing on CBS' The Early Show this morning, Sen. Christopher Dodd (D-Conn.) discussed the announcements that General Motors and Chrysler are moving closer to bankruptcy filings in the coming weeks. The banking committee chair said he hopes the two car companies will be reorganized, rather than liquidated.

"Reorganization, while no one likes that option, it may be the best option to retain a strong auto industry in the 21st century for our nation," said Dodd. "I wish we had different results but the realities are what they are."

The Senate veteran, whose approval numbers have cratered in recent months, was hopeful that President Obama's calls to stop credit card abuses will lead to meaningful legislation. He said that though previous efforts address the problem have withered under intense lobbying by credit card companies, this time he believes that popular support is on the side of reform.

Read full post…

In a direct match up with possible Republican 2010 candidate former Congressman Rob Simmons, Connecticut Senator Christopher Dodd has the support of only 34 percent of his constituents, a new Quinnipiac University poll shows. Simmons receives 50 percent of the vote, according to the poll.

Dodd, who has been in the Senate for 30 years, chairs the Senate Banking Committee. Many of those polled cite his involvement in the AIG bonus fiasco for their unhappiness with the incumbent, whose has just a 33 percent favorability rating. That’s the lowest point his approval rating has ever gone; in March, it stood at 49 percent.

Dodd took much of the blame last month when his committee loosened restrictions on executive bonuses for bailed out companies in the stimulus bill. After initially denying having a hand in the legislation, which allowed AIG to reward current and former employees with $165 million dollars in retention bonuses, Dodd admitted that he diluted the restrictions at the request of the Treasury Department.

Read full post…

Senator Chris Dodd (D-Conn.) reiterated Thursday that the Obama administration should be held accountable for the legislative loophole which allowed the American International Group Inc. to give generous retention bonuses with taxpayer money.

With an edge in his voice, the Senate Banking Committee Chairman said he feels the administration ought to shoulder much of the blame for the situation, which has generated populist outrage.

"The administration sought changes in [executive compensation rules],” Dodd said. “At the time they seemed, at least in one case, relatively technical to me, having no connection whatsoever to the AIG issue. So we agreed to a couple of those changes in order to preserve the amendment.”

"Had there been any connection at the time or any notification that somehow this was involved with AIG we would have rejected that entirely," he said. "But at the time that was not the connection."

Dodd admitted to CNN Wednesday that at the request of an unnamed administration official, his staff diluted the executive pay provision of the stimulus bill which would have applied retroactively to government funded companies.

He would not name any administration officials involved in the redrafting.

"For six weeks I was criticized and ridiculed for having written too restrictive a section on executive compensation, bonuses and golden parachutes,” Dodd told reporters outside his Capitol Hill office today. “I find it somewhat ironic that the people who were most critical of me being too tough...are now accusing me of not being restrictive enough."

Read full post…