Wall Street Tries to Shift Elizabeth Warren Away From Senate Banking Committee

By: Thursday November 8, 2012 9:15 am

Having failed to stop Elizabeth Warren from reaching the US Senate, Wall Street interests are now clearly trying to push her away from the committee assignment where she would have the greatest oversight capability over them. Politico’s Morning Money, which is basically just a giant quote laundering program for lobbyists and operatives, has this item [...]

Tax Extenders Pass Senate Finance Committee

By: Friday August 3, 2012 6:58 am

Lori Montgomery’s story on yesterday’s tax extenders vote in the Senate Finance Committee is kind of aggressively stupid, the kind of story that uses funny-sounding tax breaks as the basis for an anti-Congress pose. In reality those funny-sounding tax breaks amount to a rounding error in the overall budget. Most of the tax extender package, [...]

House Passes One-Year Extension of Bush Tax Cuts

By: Thursday August 2, 2012 7:40 am

Yesterday the House put themselves on the record on the Bush tax cuts, ensuring that the issue will extend into the lame duck session and that the election, in large part, will determine the course of action. The House approved a one-year extension of all the Bush tax cut rates, rejecting a Democratic bill already [...]

Senate Tries Moving Tax Extenders Package Before Election

By: Thursday June 14, 2012 8:55 am

The fiscal slope has several component parts, but one of the more overlooked ones is the series of what is colloquially known as “tax extenders,” those one-year tax breaks, usually for businesses, that are habitually extended. There’s a very good reason that these are only extended one year at a time – if you want [...]

Trade Deals Imperiled as Senate GOP Stages Walkout in Committee

By: Friday July 1, 2011 6:20 am

I thought Mitch McConnell was just grousing about trade adjustment assistance being included in the three trade deals that the President sent to Congress. What I didn’t know is that the White House negotiated directly with House Republicans on the deal, and didn’t really consult the Senate minority. So they’re making mischief out of a [...]

Landrieu, Begich Defend Big Oil Subsidies

By: Thursday May 12, 2011 6:19 am

Tax subsidies for Big Oil are giveaways to companies that make huge profits. The amount of subsidies that Democrats want to claw back over ten years represent 60% of what Big Oil made last quarter. Oil is traded on a global market, and the Congressional Research Service confirmed that eliminating the subsidies would have virtually [...]

Baucus Balks at Korea Trade Deal; Claim of Job Growth Questioned

By: Wednesday December 8, 2010 12:45 pm

Let’s move out of the tax-cut frying pan and into the South Korea free trade agreement fire. The Wall Street Journal says that KORUS, which is the nickname the White House has been using for the deal, is picking up support. But the first piece of their article concerns how Max Baucus, the chair of [...]

The Mystery of the Missing Food Stamp Cuts

By: Friday September 17, 2010 2:03 pm

I need to make a correction to this story from yesterday about the tax extenders bill. Or rather, it’s not my correction at all, it’s a correction from the Senate Finance Committee. Initially, they provided a summary of the bill, in plain English, which included this item: Provision to reallocate future spending – The modification [...]

Business Lobby Wants to Use Senate Finance Committee to Extend Bush Tax Cuts

By: Wednesday August 25, 2010 9:30 am

Business groups want to steer the debate over the Bush tax cuts into a friendly Senate committee, where their lobbying efforts can be more concentrated, according to The Wall Street Journal. Washington business groups are urging Democratic leaders not to use procedural shortcuts to bring major tax legislation to the Senate floor later this year, [...]

What’s the Holdup on the Health Care Bill? CBO, Senate Rules

By: Wednesday March 10, 2010 6:40 am

By most accounts, House and Senate leaders are very close to an agreement on a series of reconciliation fixes to the health care bill. In fact, Tom Harkin said they basically had an agreement in January, before the Scott Brown/Martha Coakley election. So why the wait? Why hasn’t the House whipped its members, in the [...]

Baucus And Grassley Swoop In On Senate Jobs Bill

By: Thursday February 11, 2010 12:20 pm

Perhaps in an effort to take all the credit for the spectacular implosion of Democratic Party favorability ratings in 2009-10, Max Baucus has bigfooted in on the Senate’s jobs bill, and drafted his own version of the Senate jobs bill with Chuck Grassley (R-IA). A bit of backstory to this tale. The House passed a [...]

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