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Conservative group puts $700k behind Hawley

Jan. 28, 2021 01:44AM EST
 Dan Ackermann

A Republican group is raising and spending huge amounts of money defending Sen. Josh Hawley after he was ostracized for early January’s attack on the U.S. Capitol.

Why it matters: The Senate Conservatives Fund is backfilling lost corporate and personal donations with needed political and financial support, helping inoculate the Missouri lawmaker as he weighs re-election or a possible presidential campaign in 2024.

What's happening: The SCF, a political action committee that backs Senate candidates on the right, has paid $397,782.53 since Jan. 12 to send texts and email blasts in support of Hawley.

  • The spam-blocking service RoboKiller estimates SCF has sent 2 million pro-Hawley text messages this month.
  • The group also is raising money for Hawley directly. Its executive director told Axios that SCF has "bundled" roughly $310,000 for the senator's campaign committee.

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The state of play: Johnson's procedural move will likely add 10 hours to the 20 hours already allotted for debate, during which Republicans will propose amendments to force uncomfortable votes for Democrats. Schumer promised that the Senate will stay in session "no matter how long it takes" to finish voting on the $1.7 trillion rescue package.

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Data: EIA and FactSet; Chart: Axios Visuals

Gas prices are hitting new post-pandemic highs across the country, but this isn't a story of America reopening. It's really just a function of the price of oil going up.

By the numbers: Gasoline cost $2.71 on average as of Monday, per the Energy Information Administration. The highest average price was $3.59 in Los Angeles, while the lowest was $2.33 in Houston.

  • All of these prices represent the highest level seen since 2019.

The big picture: The price of crude oil reflects more than half of the cost of a gallon of gasoline. (The rest is refinery costs, distribution costs, and taxes.)

  • Demand for oil has actually been declining, per the New York Fed, but supply has been falling even faster, with the result that prices have now topped $64 for a barrel of Brent crude.

What central bank digital currencies mean for crypto

Central bank digital currencies, or CBDCs,represent the ultimate ratification of digital finance: Its adoption by the most venerated guardians of the international monetary architecture.

Why it matters: Crypto-evangelists often talk about CBDCs in awed terms. But it's far from clear that the bitcoin-and-ethereum crowd would ultimately benefit from money going digital.

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By the numbers: Just 9% of Americans consider China a "partner," while 55% see Beijing as a "competitor" and 34% as an "enemy."

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Driving the news: In the week ending March 1, the Border Patrol referred to HHS custody an average of 321 children per day, according to documents obtained by Axios. That's up from a weekly average of 203 in late January and early February — and just 47 per day during the first week of January.

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