CAPITOL VIEW
By Pat Nolan, NEWSCHANNEL5 Political Analyst
May 5, 2023
ANOTHER UNCERTAIN WEEK FOR THE ECONOMY; THE PUSH FOR GUN REFORM IN TENNESSEE PICKS UP PUBLIC SUPPORT EVEN AS GOVERNOR BILL LEE SEEMS TO PUSH BACK DATE FOR SPECIAL LEGISLATIVE SESSION; PHIL WILLIAMS ON INSIDE POLITICS; BELLE MEADE PLAZA REDEVELOPMENT PLAN MOVES AHEAD TO A FINAL VOTE
ANOTHER UNCERTAIN WEEK FOR THE ECONOMY
This week saw yet another rise in interest rates. It is a quarter of a point increase, the tenth such jump to fight inflation in the last 14 months. The cost to borrow money is now over 5%, the highest in 16 years.
The week also saw another large bank failure, in fact the second largest in history. It is thought this trio of recent bank failures was due to these banks not adequately adapting their business practices to handle the interest rate hikes.
Even more ominously, this week the federal Treasury Secretary, Janet Yellen, announced the country will reach its debt limit by June 1. That is give or take a few days, but still a few months earlier than thought.
If the debt limit is not increased by Congress, for the first time in its history the United States will default on its debts, with potentially drastic consequences says the White House.
President Biden is meeting next week (May 9) with Congressional leaders of both parties to try to work out an agreement. Don’t hold your breath. Everyone has known this potential default has been looming for months, but only posturing by both parties has occurred. In fact, Republicans don’t even believe Secretary Yellen’s latest June 1 deadline date.
House Republicans say the debt limit must be raised, but it must be combined with spending cuts. Such a bill has narrowly passed the House but includes such a small debt limit increase, Congress would likely have to vote to increase the limit again next year before the 2024 elections. Even GOP Senators think that is not a good idea. Of course, the Senate is controlled by Democrats, so the House bill is dead.
President Biden says raising the debt should be done independently and not tied directly to spending cuts. So where do we go from here? Well even with the drop-dead date to default perhaps as close as 3-4 weeks away, it seems we are in more posturing and political games of chicken.
One other unanswered question is when or if GOP Senate Majority Leader Mitch McConnell will get involved? He’s been staying on the sidelines for now.
And then there is this possible very short -term solution to the problem that surfaced Thursday?
Finally, as speculation continues over an imminent recession, the monthly report on the jobs market, released on Friday, again tells a somewhat different story. The number of new jobs created is over 250,000, significantly more than expected. while unemployment fell again.
THE PUSH FOR GUN REFORM IN TENNESSEE PICKS UP PUBLIC SUPPORT EVEN AS GOVERNOR BILL LEE SEEMS TO PUSH BACK DATE FOR SPECIAL LEGISLATIVE SESSION
In the wake of the Covenant School deadly mass shooting, there is a surprising new poll from Vanderbilt University.
It shows strong bipartisan support among Tennessee voters, even from MAGA Republicans, for gun reform in the state. The support remains high even when the term “red flag law” is used in the questioning. That label usually receives strong opposition from GOP voters.
The poll is also surprising because it is likely Republican state lawmakers have been thinking that support for gun reform is coming only from Nashville and the few other Democratic parts of the state. One poll isn’t likely to change their minds on that, but it may plant the seed that Republican lawmakers need to monitor the results of more such surveys in the weeks to come.
You might remember two weeks ago, GOP lawmakers quickly adjourned to avoid voting on Governor Bill Lee’s gun reform measure. At the time, the Governor’s office announced he would be calling the 113th General Assembly back into special session on guns likely within weeks not months. But now, it appears such a session (if it still occurs?) won’t be called until at least after the 4th of July and maybe not until August or September.
No explanation for the apparent delay in calling the special session has been given. First guess, he doesn’t have the votes to pass his bill. Or could it be it’s about how to craft the Governor’s call for the session to set out what can (or can’t) be considered? If the call is limited to just the Governor’s bill, might we see a re-run of what happened to Governor Bill Haslam when he summoned legislators into special session to approve his INSURE TENNESSEE plan to join the federal Affordable Care Act. Republican lawmakers hated Obamacare, as it was, and still is, called. They quickly killed the bill in committee and the special session ended.
There have been comments by House Speaker Cameron Sexton that any special session should be a broad ranging discussion about gun issues. But if the Governor’s call is broad enough for lawmakers to consider all the gun related bills still pending before the General Assembly, we might see several more pro-gun bills being passed, which would probably not be what Governor Lee and gun reform activists have in mind.
Meanwhile the ongoing investigation of the Covenant shootings continues to get involved in the gun reform controversy. A couple of conservative and guns rights groups have gone to court demanding all the writings and other items of the deceased shooter, collected by police, be released. Some of the materials have even been sent for analysis to the FBI.
Early this week, the Metro Nashville Police Department had indicated a release of at least some of that information would happen soon, even Governor Lee said he thought that was coming. But a couple of days later, Metro lawyers said no information release is coming because the investigation is incomplete and ongoing. They also say the families of the victims don’t want the shooter’s writings and other information given to the public.
Finally, in the wake of the Covenant mass shooting, such tragedies seem to motivate copycats or nuts to phone in prank or false calls. One such person, who is a repeat offender, has been caught and arrested here in Nashville. At the same time other false calls made to 9-11 (called swatting) alleging active shooters at schools and making threats of violence are happening across the state. At least 10 of Tennessee’s 95 counties had it occur on Wednesday alone across the state.
PHIL WILLIAMS ON INSIDE POLITICS
Even when Tennessee lawmakers are in recess, as we have discussed, controversy continues to surround them.
And when a potential scandal looms on Tennessee’s Capitol Hill, you can be pretty sure NEWSCHANNEL5’s Chief Investigative Reporter Phil Williams will be breaking the story.
Phil is our guest on INSIDE POLITICS this week to discuss that and some of other stories he’s been breaking lately.
We welcome Phil back to the program.
INSIDE POLITICS can be seen on its regular weekly schedule on NEWSCHANNEL5 PLUS.
Those times include:
7:00 p.m. Friday.
5:00 a.m., 3:00 p.m. and 5:30 p.m. on Saturday.
1:30 a.m. & 5:00 a.m. on Sunday.
THE PLUS is on Comcast Cable channel 250, Charter Cable channel 182 and on NEWSCHANNEL5’s over-the-air digital channel 5.2. We are also on DISH TV with the rest of the NEWSCHANNEL5 NETWORK.
One option for those who cannot see the show locally, or who are out of town, you can watch it live with streaming video on NEWSCHANNEL5.com. Just use your TiVo or DVR, if those live times don't work for you.
This week’s show and previous INSIDE POLITICS interviews are also posted on the NEWSCHANNEL5 website for your viewing under the NEWSCHANNEL5 PLUS section. A link to the show is posted as well on the Facebook page of NEWSCHANNEL5 PLUS. Each new show and link are posted early in the week after the program airs.
BELLE MEADE PLAZA REDEVELOPMENT PLAN MOVES AHEAD TO A FINAL VOTE
Outside of the new Titans stadium, the hottest redevelopment plan in Nashville the last few months has been a redo of Belle Meade Plaza on Harding Road and White Bridge Road in West Nashville.
Nobody disagreed that the 1960s-era strip mall needed a revitalization but plans to include high-rise towers with apartments and a hotel, along with retail, was too much for some, especially those concerned that traffic in the area is already a nightmare.
But after meetings and negotiations between the developers and the surrounding community, the project was scaled back, and the plan was unanimously approved by the Metro Planning Commission with some conditions for changes.
However, community opposition remained to a quick approval. Opponents who spoke during a two-hour public hearing at the Metro Council Tuesday night repeatedly urged that the proposal be deferred so more talks can be held with developers to seek more changes.
During the Council debate that followed the public hearing, emotions ran high. There was a motion for a 2-meeting (one month) deferral. Belle Meade Plaza will be in a different Council district with August election. Some residents of the new district reportedly wanted the delay to have time to look at the plans and ask questions. But a month’s deferral this late in the Council term might have mortally wounded the plan. Besides, Council supporters argued zoning bills can be amended on third and final reading.
The full Council approved the project on second reading by a voice vote with both sides saying more work is needed. That means the Council’s Planning Committee will review a number of pending amendments with others possibly still to be drafted.
Therefore, while the Belle Meade Plaza redevelopment is just one vote from final approval, the ongoing amendment process in the Council, and between the community and the surrounding neighbors, could extend the consideration and final approval of the plan beyond the next Council meeting on May 16 and maybe even longer.
