Republicans have a Senate candidate who isn’t ultra-wealthy

Presented by American Chemistry Council – Chemistry Creates America Competes: An evening recap of the action on Capitol Hill and preview of the day ahead
May 09, 2024 View in browser
 
POLITICO Inside Congress

By Burgess Everett

Presented by 

American Chemistry Council – Chemistry Creates America Competes

With assists from POLITICO’s Congress team

Banks

Rep. Jim Banks (R-Ind.) gives an interview on Capitol Hill Jan. 12, 2023. (Francis Chung/POLITICO) | Francis Chung/POLITICO

BANKS' BLUE-JEAN PARTY

There are several Republicans running for the Senate who have sizable net worths and can self-fund to help counteract Democrats’ big financial advantage.

Then there’s Jim Banks.

The Indiana Republican fits a different profile as he seeks the Senate seat vacated by Sen. Mike Braun (R-Ind.), who is running for governor. We looked at his comparatively modest financial disclosures: He’s got a mortgage, some retirement funds and some savings — just like a lot of his constituents.

“I don’t come from a rich or powerful family, I’m not a self-funder,” Banks said in an interview this week after he coasted to the GOP nomination. “At this point, that's a rare circumstance [in the Senate] to come from that kind of background.”

“I grew up in a trailer park. That’s where I came from. And what’s incredible about that, is that working-class background is the same background as most people from Indiana,” Banks added. “I come from a place where I can represent the people who elected me to serve them and I think that's a powerful asset to take to the Senate.”

Indeed, Banks is representative of a Republican Party that shifted toward working-class voters in the Trump era, even as the president’s rhetoric and some of the party’s positions turned off college-educated voters and those in the suburbs. In some ways, Indiana is one of the epicenters of Trump’s appeal: On Election Night in 2016, it was the first state results to roll in showing Trump exceeding expectations — in a place Barack Obama won in 2008 and former Democratic Sen. Joe Donnelly won in 2012.

Oh yeah, and Banks was elected that year too.

As a conservative on social and fiscal issues, Banks is certainly in line with other GOP senators he’s likely to serve with. But getting to the Senate is hard for people with young families like Banks, requiring financial dexterity and sacrifice. At 44, he’ll be one of the youngest members of the chamber — and with Sen. Todd Young, 51, they’ll form one of the most youthful tandems in the Senate.

Banks rattled off some of the things that make his personal life, well, kind of normal: He went to a public school and state college, he shops at Walmart and he struggled during the pandemic because he and his wife couldn’t afford full-time childcare. There are several other senators with young families juggling it all to make it work, but it’s certainly not the norm.

“I don't know that it makes me any different or special,” Banks said. “If that is unique in the Senate, that's unfortunate. Because it's the background of where most ‘normal people’ are coming from these days.”

Banks once took an interesting path once he got to Congress. He lost a whip race in the House in 2022, then dove into a Senate race and quickly moved to ice out former Gov. Mitch Daniels. He ended up unopposed for the GOP nomination, and Democrats are defending so many seats elsewhere that they are barely contesting the seat.

Banks will bring a different variety to the chamber, should he win. And if Republicans can manage to take the Senate, the White House and keep the House, he’ll have something to say about the expiring Trump tax cuts.

“If there's any mistake that we made with tax cuts 2017, it’s that we emphasized permanent corporate tax cuts instead of keeping the individual rates permanent … the emphasis should have been on that. So we can’t make mistakes like that in the future,” Banks said. He added the “impact of those rate changes for working-class families was real. And we’ve got to make those permanent.”

— Burgess Everett

GOOD EVENING! Welcome to Inside Congress, the play-by-play guide to all things Capitol Hill, on this Thursday, May 9, where we felt instantly calmer after the House left town.

LANDING THE PLANE

The Senate is still working through its FAA endgame, with a lapse in authority set to kick in on Saturday without an extension. And with the House out of town, there’s more tension than usual about what will happen.

This afternoon, senators started to predict the chamber will stay in late tonight to finish the big reauthorization bill — potentially without amendments, although work on that continues behind the scenes. Virginia Sens. Mark Warner and Tim Kaine want a vote on their amendment to strike the additional slots at DCA, but Republicans say if that happens then THEY will want amendment votes too.

Senate Minority Whip John Thune said his best guess is that the chamber will grind through the remaining hours, and cloture vote and fatigue will set in to pass the legislation tonight.

“It’s really up to [Senate Majority Leader Chuck] Schumer and the Democrats and whether or not he has to make way for the slots amendment,” Thune said. “The more likely scenario is he allows everybody to talk and eventually by sheer inertia we end up landing the plane.”

Another option: The Senate could just pass the one-week extension and deal with it next week. But Democratic leaders don’t want to replay this week’s slog and lose a week of limited floor time. There’s no sign, in other words, that leaving for the weekend solves the problem.

Turbulence: To avoid a policy lapse, the Senate probably needs to pass the one-week extension that the House passed before it left for the week. So where does that land? That’s tougher to say. Warner and Kaine seem open to allowing that extension, provided they get a promise to vote on their amendment. They don’t have that at the moment.

No one is freaking out yet, though senators said they were anticipating they might need to stick around into the evening to see how it all plays out. An FAA shutdown isn’t unprecedented — there was a partial shutdown in 2011 that played out for a couple of weeks. A shutdown would not be ideal, either, so expect plenty of effort this evening to avoid one.

— Burgess Everett

 

A message from American Chemistry Council – Chemistry Creates America Competes:

President Biden: American chemistry is the backbone of innovation. It's time to address the regulatory overload stifling American chemistry. Chemistry powers our semiconductors, medical devices, and clean energy initiatives. But your administration’s avalanche of regulations is hampering America’s progress and competitiveness. American chemistry is more than an industry; it's our future. The Biden Administration must commit to smarter, growth-oriented regulations before it’s too late - because when chemistry is enabled to create, America competes.

 
HUDDLE HOTDISH

Mistakes were made in yesterday’s motion to table the motion to vacate.

Mark your calendars for Seersucker Day on June 13. Sen. Bill Cassidy (R-La.) named Sen. Raphael Warnock (D-Ga.) the event’s co-chair, replacing the late Sen. Dianne Feinstein (D-Calif.).

Sen. Michael Bennet (D-Colo.) told us he passed on the fish that was being served — and percolating aromatically around — the Senate today.

 

A message from American Chemistry Council – Chemistry Creates America Competes:

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QUICK LINKS 

GOP senators amused as Ted Cruz seeks to move bill: ‘The foot’s on the other hand,’ from The Hill’s Al Weaver

Democrat Maggie Goodlander launches campaign in New Hampshire's 2nd District from WMUR’s Adam Sexton

Congresswoman and Mom of 2 Speaks Candidly About Her Incurable Brain Disease: 'I'm Too Young for This', from People Magazine

Middlemen plead guilty in Henry Cuellar bribery case from Guillermo Contreras and Nicole Hensley at the San Antonio Express News

 

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TRANSITIONS 

Kaleigh Koudela is joining the Children’s Hospital Association as manager of federal affairs. She previously was legislative assistant for Rep. Blaine Luetkemeyer (R-Mo.)

Cecily Hahn is now senior counsel for Sen. Tammy Baldwin (D-Wis.). She previously was senior legislative counsel for Rep. Suzan DelBene (D-Wash.).

TOMORROW IN CONGRESS

The House and Senate are out.

 

LISTEN TO POLITICO'S ENERGY PODCAST: Check out our daily five-minute brief on the latest energy and environmental politics and policy news. Don't miss out on the must-know stories, candid insights, and analysis from POLITICO's energy team. Listen today.

 
 

FRIDAY AROUND THE HILL

Nada (Surf).

 

A message from American Chemistry Council – Chemistry Creates America Competes:

Did you know that it takes 500 highly specialized chemicals to manufacture one semiconductor chip. And the Biden Administration is investing billions to build semiconductor plants in the U.S.

There’s just one big problem: the president’s administration keeps rolling out regulations and restrictions that could impair chemical manufacturers’ ability to produce the very inputs needed to achieve this expansion.

“You can build all the semiconductor plants you want, but if critical chemistries aren’t available, you won’t be successful in onshoring the chip manufacturing supply chain. This is an issue of national security.” – Chris Jahn, President and CEO, American Chemistry Council

Call on the Biden Administration to stop undercutting American innovation and national priorities.

Learn more at http://chemistrycreates.org

 
TRIVIA

WEDNESDAY’S ANSWER: Garrett Riou was the first to correctly guess that Texas State University was the only university in Texas to have produced a U.S. president. (Lyndon B. Johnson)

TODAY’S QUESTION, from Burgess: With the Nationals finally out of the cellar and Steve Garvey running for the Senate, our thoughts turn to baseball. Name the former senator who once struck out 253 batters in a single season. The first person to correctly guess gets a mention in the next edition of Inside Congress. Send your answers to insidecongress@politico.com.

GET INSIDE CONGRESS emailed to your phone each evening.

 

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