On Campaign Trail, Rubio Truant in the Senate
Last week Sen. Marco Rubio warned it’s “important to be qualified, but if this election is a resume competition, then Hillary Clinton's gonna be the next president” because of her long history in office and in federal government.
For his sake, he’d better hope the GOP primary doesn’t turn into a disqualifying truancy competition, too.
A study by The Tampa Bay Times found that of the four Republican senators running for the White House, Rubio has missed the most Senate votes.
In June alone, Rubio missed 67 percent of the Senate votes, and he wasn’t there for more than half of them in July, according to The Times.
Related: The New York Times Just Made Rubio the Hero of the Struggling Middle Class
In all, the first-term lawmaker missed 29 percent of Senate votes, or 76 of 262 recorded, in the first six months of 2015. Over 50 of those came after his April 13 campaign announcement.
The numbers show how much time Rubio has had to spend off Capitol Hill and on the campaign trail as he looks to break out of a crowded GOP field that includes his friend and former Florida Gov. Jeb Bush.
By contrast, Sen. Ted Cruz (R-TX) has missed 54 votes since declaring his candidacy in March, while Sen. Lindsey Graham (R-SC) was truant for 35 votes since he launched his presidential bid on June 1.
Sen. Rand Paul (R-KY) has skipped only three votes throughout 2015 and only one since declaring for president.
On the Democratic side, Sen. Bernie Sanders (I-VT) has missed four votes since hitting the campaign trail.
Rubio has missed nearly 11 percent of votes since he joined the Senate in January 2011, The Times analysis shows, well above the median 1.6 percent rate for the lifetimes of current senators.
A Rubio spokesperson did not respond to a request for comment.
Top Reads from The Fiscal Times:
- Trump’s Debate Performance Should Kill His Candidacy … but Won’t
- Battle Lines Form in the Fight Over Social Security Payment Reductions
- Robert Gates Says U.S. Got ‘Out-Negotiated’ on Iran Deal, Backs It Anyway
Chart of the Day: SALT in the GOP’s Wounds
The stark and growing divide between urban/suburban and rural districts was one big story in this year’s election results, with Democrats gaining seats in the House as a result of their success in suburban areas. The GOP tax law may have helped drive that trend, Yahoo Finance’s Brian Cheung notes.
The new tax law capped the amount of state and local tax deductions Americans can claim in their federal filings at $10,000. Congressional seats for nine of the top 25 districts where residents claim those SALT deductions were held by Republicans heading into Election Day. Six of the nine flipped to the Democrats in last week’s midterms.
Chart of the Day: Big Pharma's Big Profits
Ten companies, including nine pharmaceutical giants, accounted for half of the health care industry's $50 billion in worldwide profits in the third quarter of 2018, according to an analysis by Axios’s Bob Herman. Drug companies generated 23 percent of the industry’s $636 billion in revenue — and 63 percent of the total profits. “Americans spend a lot more money on hospital and physician care than prescription drugs, but pharmaceutical companies pocket a lot more than other parts of the industry,” Herman writes.
Chart of the Day: Infrastructure Spending Over 60 Years
Federal, state and local governments spent about $441 billion on infrastructure in 2017, with the money going toward highways, mass transit and rail, aviation, water transportation, water resources and water utilities. Measured as a percentage of GDP, total spending is a bit lower than it was 50 years ago. For more details, see this new report from the Congressional Budget Office.
Number of the Day: $3.3 Billion
The GOP tax cuts have provided a significant earnings boost for the big U.S. banks so far this year. Changes in the tax code “saved the nation’s six biggest banks $3.3 billion in the third quarter alone,” according to a Bloomberg report Thursday. The data is drawn from earnings reports from Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo.
Clarifying the Drop in Obamacare Premiums
We told you Thursday about the Trump administration’s announcement that average premiums for benchmark Obamacare plans will fall 1.5 percent next year, but analyst Charles Gaba says the story is a bit more complicated. According to Gaba’s calculations, average premiums for all individual health plans will rise next year by 3.1 percent.
The difference between the two figures is produced by two very different datasets. The Trump administration included only the second-lowest-cost Silver plans in 39 states in its analysis, while Gaba examined all individual plans sold in all 50 states.