Among the many other reasons not to engage in a grand bargain during the lame duck session is that Congress actually needs to get busy with other matters. For a variety of reasons, mainly that they’re not good at their job, Congress left a multitude of items on the table for the lame duck, many of which must pass aside from the fiscal slope measures like the Bush tax cuts, the sequester, unemployment insurance, the payroll tax cut and the alternative minimum tax patch. The Hill rounds some of them up.
I put these in the categories of “good” and “must avoid disaster.” The capital gains tax rate will go up to 20% (good). Medicare payments to doctors would drop 27% without a “doc fix” (not so good). The postal service has defaulted on $11 billion in retiree benefit payments and needs a reform measure (must avoid disaster). There’s a tax extender bill that has passed the Senate Finance Committee that includes a number of corporate tax breaks and the like which would expire if nothing is done (good). But inside that are patches to the AMT, an extension of the wind production tax credit, tax preferences for research and development, and a one-year extension of the Mortgage Forgiveness Debt Relief Act, without which homeowners who got principal reduction or other debt forgiveness would have to list the amount forgiven as income for tax purposes (must avoid disaster).
There’s more. The farm bill has already expired, and if nothing is done by the end of the year disruptive changes to farm programs would take effect (must avoid disaster). The FISA Amendments Act, which expands warrantless surveillance, expires at the end of the year without Senate action (good). A new defense authorization bill, which has passed annually for the last 50 years, is overdue (good). Congress didn’t get a cybersecurity bill done in the last session (good). The Violence Against Women Act has expired (must avoid disaster). There are a few other possible measures that aren’t very likely to happen, like stopping the EU from charging US airlines for global warming emissions, allowing tariff increases on countries branded currency manipulators, legalizing online poker, granting permanent normal trade relations with Russia, normalizing online sales tax regimes, and more.
But perhaps the most important lame duck session item at this point is an immediate aid bill for those suffering from Hurricane Sandy. We need an Atlantic Coast restoration bill that actually goes further than replenishing FEMA budgets. This could be tied to infrastructure spending, which Democrats support. But fixing the coasts is much more critical in the near term than fixing the debt. Unless you like inundated subway systems and flooded streets and homes without power for a week or more in the most population-dense region of the country as a regular occurrence.
Many of these priorities are absolutely critical, certainly more so that a so-called cliff that can be managed for months before having a legitimate economic impact.




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Take a wild guess what’s going to be dealt with.
“Forward,” baby.
Dday this is a fabulous list, esp. the “(good)” and “(not so good)” and “(must avoid disaster)” triage tags. I nominate your triage system for all future legislative tracking posts. Maybe even for the Roundup!
Labor unions are on the job. They held dozens of rallies across the country yesterday denouncing any “grand bargain” during this lame duck session.
Our line should be that the campaign against the plutocrats is not over just because preznit got re-elected.
The commenting tools are not accepting the link I offered to the labor union rallies article. I apologize if this resulted in multiple redundant comments.
Those are good. +1 for the New easy reader tool.
Agree with EP, Grand Bargain shall supersede all.
Ice Bergs? What Ice Bergs? I can’t hear you. Full Steam Ahead!
Let outgoing legislative statesmen Joe Lieberman and Kent Conrad explain what
Congress should do.
Well there’s two high profile assclowns in favor of immediate Front Burner Fiscal Cliff Action.
Conrad(killed HCR Public Option) and Lieberman(AIPAC, PhRMA, Phizer, Hartford, Whore)
Lieberman failed to endorse any candidate this time. Last time he endorsed McCain, right?
After all the D Party did for him:
The Democrats failed to endorse their own candidate so that Lieberman the “Independent Democrat” (WTF?) could hold his seat.
The D Party is beyond worthless. My guess is that the Senate leadership
(with an assist from the White House)
will deprive Elizabeth Warren of a seat on the Banking Committee.
Those silly pie in the sky troll Democrat purists- didn’t they realize a third party strategy can never ever ever produce results…….oh wait …….you mean the DEMOCRATS used a third party strategy to thwart the progressive activists and succeeded? More than once? Who knew!
She probably doesn’t want to be on the Banking Committee. Regarding “taking on the banks” she”ll take them on about as much as O took them on.
Anything she does with the banks will be small ball. BUT YMMV.
Yeah, because “Senate Leadership” = Goldman Sachs, JP Morgan,….
As we go forward into the warming yrs. ahead, protecting the coasts will cost more and more. Better to remove the incentives ( like cheap Federally backed flood Ins.) to building and moving toward a rapidly rising Ocean then endlessly spending billions on sand dunes and eventually even Dutch level hard defenses on a coast line that in the east alone is more then 2,000 miles long. The US is poised for disaster with so many of it’s large cities on coastal rivers and shore lines. NYC, Boston,DC,Philly, Miami just to name a few. All these places are going to be more and more vulnerable as time goes on and the amounts of money to defend them will be staggering. To just protect NYC from storm surges will cost tens of billions. It’s a recipe for bankruptcy and decline.
No one wants to talk about Warren’s warmongering. Whistling past the graveyard. IMHO, Warren’s hawkishness toward Iran is a huge tell.
IMHO, she’s just another smooth-talking Sell Out. I could be wrong, but I try to be realistic.