Daily Digest - July 12: Stand Up for Workers and Wages

Jul 12, 2013Rachel Goldfarb

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Wal-Mart Won’t Open 3 D.C. Stores Due to Wage Law (Bloomberg TV)

Erik Schatzker speaks to Roosevelt Institute Fellow Dorian Warren on the D.C. living wage law. Dorian suggests that the mayor shouldn't veto the bill, because Wal-Mart's need to expand in new markets will overpower its distaste for higher wages.

An Oregon Trail to End Student Debt (The Nation)

Katrina vanden Heuvel sees Oregon's new model for financing post-secondary education as an example of how progressives can still achieve real innovative change. Instead of paying tuition up front, Oregon students will pay a percentage of their income for twenty years after graduation.

Want to Fix the US Student Loan Crisis? Put Colleges on the Hook (The Guardian)

Helaine Olen suggests that student loan risk should be put on the schools, by financially penalizing those with high default rates. The price of college needs to drop, but for now this would create an incentive to minimize loans in students' aid package.

Going Abroad With Dodd-Frank (TAP)

David Dayen carefully lays out the Commodity Futures Trading Commission's struggle with a rule regulating foreign derivative trades that is scheduled to be finalized today. He explains why it isn't likely to happen, and how this relates to the broader picture of financial regulation.

Senators Introduce Bill to Separate Trading Activities From Big Banks (NYT)

Peter Eavis reports on the 21st Century Glass-Steagal Act, sponsored by Senators Warren and McCain, and two others. Like the original, passed during President Franklin D. Roosevelt's first term, this bill would mandate a strict separation between banking and speculative activities.

The House Just Passed a Farm Bill with no Money for Food Stamps. What Does That Mean? (WaPo)

Brad Plumer looks at three options for what could happen now that the House has passed the SNAP-free farm bill. The scariest option would cause SNAP funding to lapse on September 30, leaving millions of people scrambling to afford groceries.

Child Care on the Third Shift (WaPo)

Brigid Schulte explains just how difficult it can be for low-wage workers to obtain child care. In retail and hospitality, the fastest growing sectors in today's economy, schedules are erratic and non-traditional, which only increases child care costs.

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