Question –

How will the new Congress address potential regulatory reforms to the financial system?

Newly elected Chairs of the House Financial Services Committee and Senate Banking Committee, Rep. French Hill (R-AR) and Senator Tim Scott (R-SC), have committed to pushing policies to reduce the regulatory burden to free all segments of the financial sector to serve their customers better. Several areas of regulatory burdens that the two Chairs may address include streamlining the bank merger process so that smaller institutions can build scale to better compete, reducing the burden for emerging companies seeking to access public markets, and focusing on streamlining efficiencies in housing programs.

Question –

Will financial regulators modernize regulation of emerging technologies, particularly in regulating digital assets, fintech companies, and ensuring privacy safeguards for consumers? 

The regulators appointed by President Joe Biden were quite active. The CFPB proposed or finalized regulations addressing Earned Wage Access, Buy Now Pay Later, large market participants such as PayPal, Apple, and Zelle, and open banking intended to give consumers greater access to their data. Further, bank regulators placed new requirements on the banks looking to engage in “novel activities,” including certain crypto activities. The SEC has also made it harder for certain crypto activities to be conducted by both crypto-native firms and traditional financial institutions.

New regulators appointed by President-elect Donald Trump will look to roll back many of these and, where possible, provide greater regulatory certainty to promote innovation. This is particularly true for digital asset companies which have sought greater regulatory clarity for their products.

Question –

Will reform of the Government-Sponsored Enterprises (i.e., Fannie Mae and Freddie Mac) be tackled in the next two years?

With a united Republican government, the likelihood of GSE reform increases, but other factors at play may prove a challenging environment to finally remove the GSEs from conservatorship. For one, this is an incredibly thorny issue that has eluded even previous bipartisan attempts at reform. Further, each party has different objectives (i.e., increasing affordable housing/the government playing less of a role in the housing market), and with a slim majority in the House, this could prove an insurmountable obstacle.

The current discussion about how to sequence reconciliation and what may be used as a pay-for, could ultimately fast-track a process that needs considerable thought and cooperation to ensure no adverse effects on an already tenuous housing market.

Question –

How’d the pollsters do in the election?

On the whole they had a better night than they’ve had over the last few election cycles. In 2016 and 2020, public pollsters underestimated Trump support by a sizable margin. This time? They were within just a point or two of the final result. Perhaps more important, reporting on the polls provided a realistic perspective on the election outcome – it was a coin toss, and Trump ended up ahead by a couple of points. That’s the best we can expect from polls.

Question –

What are some long-term trends that matter?

Polling will continue to dominate political headlines, especially when other types of reporting (particularly “vibe” reporting) can swing so wildly from side to side. The long-term challenge that is most vexing to pollsters is that presidential elections are close every time. We don’t have presidential blowouts. This time, Trump won by about the same margin Biden won last time, which followed a close election in 2016. When the election is close at the stretch, there’s not much for polls to tell us except… wait until election day!

Question –

What’s the biggest mistake people are making when they look at the election?

We tend to overread election results. After investing so much time and energy in following (and working in) elections, we want to get an immediate, clear narrative. Trump has remade the GOP coalition, and that’s an incredibly interesting result. But jumping to a conclusion that this new coalition could be durable and might outlast Trump is an overreach – just like when political analysts thought the 2008 Obama election would reshape American politics. We keep getting close elections, with different configurations of the electorate every time.

Question –

Can you explain your work in the public health and health equity space and what drew you to this work?

My key focus at Forbes Tate Partners is to advise healthcare, tech, and pharmaceutical clients on addressing some of the most pressing public health issues and inequities. Providing strategic direction, identifying and engaging stakeholders, and helping tell local and national stories about their efforts and outcomes are all integral to this work. I was drawn to the public health and health equity space over 10 years ago when I started advocating for medical cannabis legalization.  

Cannabis public policy impacts both and requires thoughtful and intentional policy development to improve public health and health equity. As we legalized cannabis in states throughout the country, green deserts, like food and healthcare deserts, were an unintended consequence, leaving many under and never-served populations without access to medical cannabis. Criminal justice reform is also a pillar of my cannabis advocacy and encounters with the criminal justice system have proven to negatively affect health outcomes for individuals and communities. 

Question –

How does stakeholder engagement play a key part in advocacy today?

Knowing who is for, against or even agnostic towards an issue or organization is critical to a project or initiative’s success. Deciding whether and how to engage stakeholders is important; oftentimes it’s not enough to attempt to get buy-in or ask for something if you haven’t engaged the stakeholder to some degree throughout the process. Awareness about an issue or your existence and mission is a great place to start. You never know who will become a supporter or at a minimum, not be an impediment. Stakeholders may also have work or relationships that can be leveraged to fast-track or overcome challenges in advocacy.

Question –

What do you find to be most rewarding about the wide-ranging collaboration you foster at FTP?

Radical collaboration! Empowering diverse individuals and organizations to work together in a space that allows for different thinking and doing. I’ve always believed that an individual can do more and better with the right people. Since joining FTP I’ve been amazed at how many times one of my colleagues points me in the direction of another colleague who happens to have an experience or connection to the “missing piece” of a problem I am trying to solve, for the firm or a client.

Question –

Where do you see the food pricing and inflation fitting into this election?

These are economic issues, which have long been top of mind for voters and remain so today. Recent polls show that the economy and inflation are important to 81 percent of registered voters heading to the polls this fall. The need for a robust domestic food supply and a strong rural economy is certainly a big part of that conversation.

Question –

What legislative priorities are you thinking about for the remainder of this Congress and next Congress?

As someone who follows food, agriculture, and related policies, the next Farm Bill is top of mind. The current extension of the 2018 Farm Bill expires September 30th. A lapse in the Farm Bill has no real immediate ramifications to farmers; however, Congressional leaders are considering passing a new Farm Bill or another extension later this year and ahead of a new Congress with an already jampacked agenda. Many are pushing for the former, as 2024 inflation-adjusted net cash farm income projections for many crops are their worst in over a decade. Further, a new Farm Bill provides opportunities to update other critical policies, including rural development, energy, horticulture, forestry, credit, agriculture trade, and nutrition.

In the new 119th Congress, there will be a flurry of activity out of the gate. Such activities include setting up new Congressional procedures and committee assignments, and addressing the debt limit and 2025 expiring tax provisions.

Question –

What is one area of expertise that people may not know you have? 

My colleagues and friends get a chuckle, but I work on industrial hemp and cannabis policy! I actually serve as co-executive director of the Coalition for Cannabis Policy, Education, and Regulation (CPEAR), one of the Forbes Tate Partner’s prominent coalitions. During the 2014 Farm Bill and at the White House, I worked on industrial hemp, a crop with great potential, and related policies. That has translated into my extensive understanding a variety of cannabinoid issues.

Also, I’m always happy to discuss the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), but strangely only a few people ever take me up on it.

Question –

What impact does tourism have on our country’s natural resources and conservation efforts?

When it comes to public land and water, the dynamics cut a few different ways. On the positive side, the incredible popularity of our national parks, state parks and other public lands as places for people to get outside and get active means more Americans are maintaining or gaining an appreciation for the value of these places. In theory, that appreciation would translate into constituents pressing federal and state governments to provide adequate resources and funding to manage and conserve these natural resources in a balanced manner guided by best available science. I’d say at the federal level for sure, we still have major resource shortfalls in need of attention. We are loving some of these places to death and we are not giving natural resource managers what they need carry out the very complicated work of allowing for multiple kinds of uses of our public natural resources, including high public demand for recreational access. Here in Washington, outdoor recreation related tourism continues to represent a policy space where we can find a high level of bipartisan cooperation, so we’ve made some incremental progress on this front and I’m bullish about continued progress.

Question –

Earlier this year, you helped pass the EXPLORE Act. Can you tell us a little more about this bill and its importance?

We did get this passed in the House of Representatives on a voice vote under suspension which speaks very directly to my point above – in a narrowly divided House where bipartisanship has been in short supply for many Congresses now, this legislation addressing a wide range of federal outdoor recreation management needs came out of committee smoothly and the full House smoothly. Its Senate companion, America’s Outdoor Recreation Act, similarly came out of committee unanimously twice. This bill for the most part is aimed at helping the federal government update its approach to recreation management on many fronts that have been in need of attention for some time including how various seasons for recreation permitting are determined, updated campground management, more effective gateway community collaborations – it’s a long list. It’s not sexy stuff but it gets at the guts of how our public land management agencies approach facilitating recreation and if passed and implemented, this legislation will help all Americans who love the outdoors. It’s a big deal.

Question –

How is climate change affecting outdoor recreation in our country? What can we do about it? 

In a very practical sense, people are having to shift the locations of where they pursue their favorite outdoor activities or turn to different activities in the places they live. Whether it is fishing, hunting, skiing – name the activity – seasons and weather are changing. Outdoor recreation businesses are having to adapt and evolve and this brings us back to federal advocacy. We need to make sure the agencies managing the places we recreate outdoors in this country are able to carry out adaptive management of fish, wildlife, and infrastructure that anticipates climate-driven changes. We need to be clear eyed about all of these practical considerations and make sure outdoor recreation interests are communicating clearly with members of Congress and presidential administrations.

Question –

Can you tell us about your involvement in I AM ALS’ efforts? 

Forbes Tate Partners has been involved in I AM ALS from the very beginning. Early in 2019, we began working with I AM ALS to help their efforts in Washington, D.C. The fight against ALS is very personal for the Forbes Tate team and along with I AM ALS and the ALS community, we were able to quickly accomplish many life-changing policy wins for those living with ALS, their families, caregivers and loved ones. We started by launching the bipartisan and bicameral ALS Caucuses.

In 2020, the ALS Disability Insurance and Access Act was signed into law removing the five-month waiting period for SSDI benefits for those diagnosed with ALS. In 2021, ACT for ALS was signed into law, authorizing $100M in new funding for ALS research, including through a new Expanded Access Grant Program (EAP). ACT for ALS has been fully funded every Appropriations cycle since. Additionally, DOD CDMRP funding for ALS research was increased from $10M in FY19, to $20M in FY20 and $40M in FY21 and every year since.  

Question –

What does it mean to have No Ordinary Campaign now streaming on Prime Video?  

It means everything that our advocacy and education can continue to reach more and more people! ALS is often thought of as a rare disease, but 1 in 300 people will be diagnosed in their lifetime and there is currently no real treatment and no cure. We hope the increased awareness will help drive interest and resources to finding that much needed treatment and ultimately, a cure! No Ordinary Campaign follows the lives of I AM ALS founders Brian Wallach and Sandra Abrevaya. Following Brian’s diagnosis, they have dedicated their lives to changing the world for those with ALS.

The film follows their personal journey, including the work on Capitol Hill and the White House that Forbes Tate Partners has been so honored to be a part of. Over the last couple years, the film has had a very successful run at many of the world’s most popular film festivals, but it being streamed on Prime Video means that more people all over the world can learn about ALS, which is a huge benefit to our fight against this terrible disease.  

Question –

What’s next for the I AM ALS campaign and the fight to end ALS? 

Anyone in the fight against ALS has one goal: a cure! Over our time working on ALS issues, we have met and worked with so many wonderful people living with ALS, their families, friends, and caregivers. Sadly, because ALS is often quickly progressing, we’ve lost too many of these friends and fellow advocates along the way. As we continue to work towards finding a cure, our efforts are fueled by them and the amazing ALS community across the country. Continued funding for research and Expanded Access Programs is critical.

ACT for ALS will need to be reauthorized next year and there is other legislation we’ll be working on to ensure finding treatments and cures for ALS, and other similar diseases, is top of mind for researchers, regulators and Capitol Hill.