No Separating Obama From the JOBS Act

By: Friday April 13, 2012 8:56 am

So I hear that Richard Trumka is personally outraged by the JOBS Act, and the larger idea that “this administration thinks that it’s going to be good for the country to re-inflate a stock market bubble.” This didn’t deter Trumka’s AFL-CIO from endorsing the President who signed that bill for re-election, of course. “Labor weighs [...]

New Report Shows 26 Fortune 500 Businesses Paid Negative Tax Rate From 2008-2011

By: Monday April 9, 2012 11:01 am

Last year, the watchdog group Citizens for Tax Justice put out a paper showing that 30 Fortune 500 companies had a negative tax rate for the cumulative years 2008-2010. The corporations singled out by the report submitted a number of excuses to explain away what they claimed was an anomaly, owing to things like short-term [...]

Senate Will Pass House Version of STOCK Act, Drop Political Intelligence Measures

By: Wednesday March 21, 2012 6:56 am

The Senate leadership has given up on trying to pass their version of the STOCK Act, instead planning a vote on the House bill that cancels out restrictions on so-called “political intelligence,” among other tougher measures. Senate Majority Leader Harry M. Reid (D-Nev.), in a Tuesday afternoon floor speech, announced that he would not compel [...]

Cantor Brokering House GOP Budget Deal Which Will Reduce Spending Under Cap

By: Thursday March 8, 2012 7:35 am

A very big meeting will take place today between House Majority Leader Eric Cantor and conservative members of the House Budget Committee, over the budget for the next fiscal year. Republicans remained at odds Wednesday over whether to keep the discretionary spending levels set in the August debt-ceiling deal with the White House or to [...]

Cantor Unveils Plan to Fight Tax Cuts with Tax Cuts

By: Monday February 20, 2012 8:55 am

With the payroll tax cut and unemployment insurance extensions completed to the end of the year, most observers don’t expect much action in Congress until the November elections. The fact that you can say that on February 20 is quite sad, but it also happens to be the truth. This Congress has shown no ability [...]

STOCK Act Passes House as Bachus Insider Trading Investigation Begins

By: Friday February 10, 2012 7:35 am

The House passed a watered-down version of the STOCK Act, the bill that would ban insider trading among members of Congress. Democrats supported it in order to get the bill to a conference committee, as it has already passed the Senate. So the final vote was 417-2. The two major changes to the bill made [...]

Insiders and Lobbyists Begin to Gut Congressional Insider Trading Bill

By: Wednesday February 8, 2012 2:54 pm

When the Senate passed the STOCK Act, the bill that bans insider trading on non-public information picked up in Congress (yes, that’s not against the law right now) along with some other ethics reforms, I thought that could be a vehicle that would move expeditiously through the House. However, even though Majority Leader Eric Cantor [...]

STOCK Act Passes After Ethics Add-Ons

By: Friday February 3, 2012 7:03 am

The STOCK Act was a media-driven bill that politicians felt they could not resist after 60 Minutes ran a (somewhat flawed) exposé on the insider trading activities of members of Congress. Once a must-pass bill like that gets into circulation, it’s going to become an attractive target for messaging amendments where members try to hitch [...]

With Obama Endorsement, Insider Trading Ban for Congress Likely

By: Thursday January 26, 2012 8:55 am

One part of the State of the Union I forgot to mention is that the President formally backed legislation that wold ban insider trading among members of Congress. If the Administration has been serious about anything related to financial fraud, it has been insider trading, where they have engaged in multiple criminal prosecutions. And the [...]

The Grandest Bargain – Cantor Floats Kitchen-Sink Christmas Deal

By: Thursday December 1, 2011 8:55 am

I speculated yesterday that you could see a host of additional measures thrown into any deal for the payroll tax cut extension, including all the other expiring measures and even an alternation of the automatic trigger cuts that Republicans want to steer away from the defense budget. That’s exactly the kind of bargain that Eric [...]

GOP Stance on Payroll Tax, Unemployment Extension More About Perception and Blame-Gaming

By: Wednesday November 30, 2011 11:35 am

John Boehner has now come out in “support” of a payroll tax cut extension, much as Mitch McConnell did yesterday. But like McConnell, Boehner appears to be adding a caveat for no reason other than to have a plausible excuse when the whole thing doesn’t pass: “We’re going to continue to seek common ground on [...]

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