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House committee set to advance articles of impeachment against Alejandro Mayorkas
Washington — The House Homeland Security Committee is on track to advance articles of impeachment against Homeland Security Secretary Alejandro Mayorkas Tuesday, which would pave the way for a full House vote in the coming days.
House Republicans on Sunday released two articles of impeachment against President Biden’s top immigration official, accusing him of “willful and systemic refusal to comply with the law” and “breach of public trust” over the administration’s handling of the migrant crisis at the U.S.-Mexico border.
GOP Rep. Mark Green of Tennessee, the committee’s chairman, said the panel had “exhausted all other options” to hold Mayorkas accountable. Rep. Bennie Thompson of Mississippi, the top Democrat on the committee, characterized the impeachment effort as a “sham” and said the articles lack “even a shred of evidence of high crimes or misdemeanors.”
The impeachment push comes as the GOP has made border security a central theme of the 2024 campaign and as House Republicans have come out against a border security-immigration deal that Mayorkas helped negotiate with a bipartisan group of senators. House Republican opposition has threatened its chances of passage in the lower chamber.
The first impeachment article accuses Mayorkas of repeatedly violating the law by allowing the release of migrants who are awaiting court proceedings. The second article alleges Mayorkas lied to lawmakers about whether the southern border was secure and obstructed congressional oversight of the department.
House Speaker Mike Johnson of Louisiana said last week the House would vote on the impeachment articles “as soon as possible.”
The charges against Mayorkas face an all but certain failure in the Democratic-controlled Senate, which requires a two-thirds majority to convict and remove him. But his impeachment would be historic given that he’d be the first cabinet official to be impeached in almost 150 years.
The impeachment fight
On the eve of the committee’s vote to advance the articles, Democrats released a report defending Mayorkas’ actions and accusing Republicans of abusing their impeachment power.
“Impeachment is an extraordinary remedy under the United States Constitution. It is not a tool for policy or political differences, and constitutional scholars and even some Republicans agree,” Democrats said in the 29-page report, which slammed the proceedings as a political exercise meant to “satiate the extreme MAGA base.”
The committee sped through impeachment proceedings this month, holding just two hearings in which lawmakers heard testimony from three state attorneys general, as well as from people whose family members have died as a result of fentanyl overdoses or violent crime.
Democrats said Republicans failed to give Mayorkas a chance to testify, denying him of “a meaningful opportunity to respond to the baseless charges against him.”
Republicans and the Homeland Security Department clashed over whether Mayorkas would appear in person during the impeachment proceedings. Mayorkas declined to attend the hearing on Jan. 18, citing a conflicting meeting with Mexican officials about border enforcement, but agreed to testify at a later date. Green accused Mayorkas of playing a game of “cat and mouse,” and the border chief was instead instructed to submit written testimony before the end of the month.
But the committee’s 18 Republican members then decided they did not need to wait to hear from Mayorkas, announcing after the final hearing that they all supported impeaching him.
In a letter to lawmakers ahead of Tuesday’s vote, Mayorkas called on Congress to step up and provide a legislative solution to the border crisis. He said the policies negotiated by senators would “make a substantial difference at our border.”
He also hit back at Republican attacks, calling their accusations “politically motivated.”
“I assure you that your false accusations do not rattle me and do not divert me from the law enforcement and broader public service mission to which I have devoted most of my career and to which I remain devoted,” Mayorkas said.
In response to the release of the impeachment articles, the department on Sunday said the effort was a “distraction from other vital national security priorities and the work Congress should be doing to actually fix our broken immigration laws.”
“They don’t want to fix the problem; they want to campaign on it,” the department said in a memo.
Nicole Sganga contributed reporting.
How to watch the Mayorkas impeachment articles markup
- What: House Homeland Security Committee votes to advance articles of impeachment against Homeland Security Secretary Alejandro Mayorkas
- Date: Tuesday, Jan. 30, 2024
- Time: 10 a.m. ET
- Online stream: Live on CBS News in the player above and on your mobile or streaming device.
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While another Federal Reserve rate cut issued this week won’t be great for savers accustomed to earning high returns on their money, it will provide another boost to borrowers. Whether you were considering a mortgage, a personal loan or even just a credit card, a reduction to the federal funds rate helps, even if the amount of assistance will vary depending on the product.
One way it will help, perhaps in a significant fashion, however, is with home equity loans and home equity lines of credit (HELOCs). Because the home serves as collateral in these borrowing exchanges, rates on both items tend to be lower than other credit options. And with rate cuts now issued twice in the last three months, they’re poised to become even less expensive.
Still, home equity borrowing comes with some inherent risks, too. And borrowers should do all they can to avoid them. As such, there are some smart home equity moves to make now that the Fed has cut rates again. Below, we’ll break down four of them.
Start by seeing what home equity loan rate you could qualify for here.
4 smart home equity moves to make now that the Fed cut rates again
Rate cuts offer prospective home equity borrowers a unique chance to capitalize on their accumulated home equity, but they should approach this chance in a strategic and nuanced way. Specifically, they should consider the following moves now:
Monitor certain dates
If you opened a home equity loan at the start of this week and didn’t wait for the Fed to take action then you likely made a mistake. While the difference in rates over a few days was likely minor, every little bit helps, particularly when spread over an extended repayment period. It’s critical to monitor certain dates — like those surrounding a Fed rate cut or the next inflation report release — for opportunities to capitalize and to lock in a below-average rate. Fortunately, there are multiple upcoming dates in which borrowers can take advantage. But this will require a proactive approach and you’ll need to have your documentation ready and credit score in top shape to truly take advantage.
Explore your current home equity borrowing options online today.
Consider a HELOC over a home equity loan
A HELOC has a variable interest rate subject to drop now that the Fed has embarked on its new rate-cutting campaign. A home equity loan, meanwhile, has a fixed interest rate that will need to be refinanced in the future to exploit any rate declines. In today’s evolving rate climate, then, it’s worth considering a HELOC over a home equity loan, even if the latter’s current rate is slightly better than the former. Plus, HELOC rates will change independently each month on their own while home equity loan borrowers will need to pay closing costs to refinance their rates.
Don’t overborrow
It’s been a long time since rates were cut (September’s reduction was the first in more than four years). So it can be tempting to overborrow now that rates appear to be moving in the right direction. But that’s always a mistake, particularly when using your home equity. So avoid that temptation and crunch the numbers to make sure you’re only borrowing an amount that you can easily afford to repay.
Open it before the end of the year
Not sure if you should wait for home equity rates to fall further into 2025? If you’re planning on using the home equity for a home improvement project, you may want to open it before the end of the year, even with the possibility of additional rate cuts high right now. That’s because the interest on both home equity loans and HELOCs is tax-deductible if used for qualifying home repairs. If you wait until 2025, however, you’ll postpone this critical tax deduction until it comes time to file your return again in 2026. So consider opening it now, then, to position yourself for potential (and immediate) tax relief.
Learn more about your home equity loan options here.
The bottom line
Now could be a great time to access your home equity, with two rate cuts already issued this year and others likely in the near future. Borrowers should still take a smart approach, however. That involves monitoring certain calendar dates for opportunities to capitalize on a lower rate, considering a HELOC over a home equity loan, not overborrowing and opening it at the right time to potentially qualify for some specific tax benefits. By making these four smart home equity moves now, borrowers can better position themselves for financial success both in today’s cooling rate climate and over the full repayment period.
