February 28, 2008
As House Approves Tax Bill, Senate Dems Look To Reconcile
Senate Democrats are inching toward including an energy tax plan as part of budget legislation to overcome a Republican-led obstacle there, as the House yesterday reaffirmed its support of repealing billions of dollars in incentives for oil and gas companies in a stand-alone measure.
While House Democrats have pushed through similar proposals this Congress with majority support, Senate Democrats have been unable to get the 60 votes needed to overcome a Republican filibuster.
Senate Democrats have mulled including an energy tax plan that repeals oil and gas company incentives to pay for extending and expanding renewable energy and efficiency incentives as part of a filibuster-proof budget reconciliation bill.
See CongressDaily (subscription) for the full story.
Posted at 9:19 AM
Posted to:
Congress, House, Senate
Share via
February 25, 2008
Lawmakers Return With The Economy On Their Minds
After a week away from Washington, lawmakers return to the Capitol today looking to legislation they hope will address the economy, an issue increasingly on their own and their constituents' minds. But members also have to contend with intense negotiations over the farm bill, rewriting the nation's intelligence laws and looking for troop withdrawals in Iraq.
House Democrats this week will renew a floor fight over paying for billions of dollars in renewable energy and efficiency tax breaks by repealing incentives for oil and gas companies. Meanwhile, Senate Democrats will attempt to bring up a housing stimulus package of direct aid and consumer-friendly initiatives to help the struggling industry, though they first want to finish work on an Indian health care bill and revisit Iraq war legislation.
See CongressDaily's comprehensive preview of the Hill's post-recess agenda here.
Posted at 10:30 AM
Posted to:
Congress, House, Senate
Share via
February 22, 2008
Renzi Indicted On Land Deal Charges
UPDATED.
Rep. Rick Renzi, R- Ariz., was indicted on federal charges of extortion, wire fraud and money laundering stemming from an investigation of land deals in his home state and an alleged payment in return for the lawmaker's influence, the U.S. attorney's office in Arizona said today.
The 26-page indictment [PDF] accused Renzi and two former business partners of conspiring to sell land that buyers could swap for federal property. The sale netted $4.5 million for one of the associates, the government said. The FBI conducted a raid in April on a business owned by Renzi's wife, leading to his decision to step down from the Intelligence, Natural Resources and Financial Services committees. Renzi previously announced he would not run for another term and would work to clear his name.
But stepping down next January isn't soon enough for the House Republican leadership. In a statement issued this afternoon, Minority Leader John Boehner urged Renzi to resign.
Continue reading "Renzi Indicted On Land Deal Charges"
Posted at 4:05 PM
Posted to:
Campaigns, Congress, Crime, FBI, House
Share via
February 15, 2008
FISA Fight Spills Over Into Recess
President Bush and Republican congressional leaders today charged that House Democratic leaders put the nation at risk by failing to move legislation renewing the Foreign Intelligence Surveillance Act.
"By blocking this piece of legislation, our country is more in danger of an attack," Bush said following a meeting at the White House with GOP leaders. "By not giving the professionals the tools they need, it's going to be a lot harder to do the job we need to be able to defend America."
House Majority Leader Steny Hoyer, D-Md., said the president's claims of imminent danger were overblown because Bush would still have authority to allow eavesdropping on suspected terrorists after the law expires at midnight. "A wide range of national security experts has made clear that the president and our intelligence community have all the tools they need to protect our nation," Hoyer said. He called Bush's remarks "wrong, divisive and nothing more than fear-mongering."
Continue reading "FISA Fight Spills Over Into Recess"
Posted at 3:20 PM
Posted to:
Bush Administration, Congress, House, President Bush, Senate, Terrorism
Share via
February 14, 2008
House GOP Walks Out Over Contempt Vote, FISA
UPDATED.
Enraged House Republicans staged a walkout from the floor after Democrats sought a contempt of Congress vote for White House Chief of Staff Joshua Bolten and former counsel Harriet Miers.
"We will not stand for this and we will not stay for this," said Minority Leader John Boehner, speaking from the House floor. "I would ask my House Republican colleagues and those who believe that we should be here protecting the American people to not vote on this bill. Let's just get up and leave."
And with that, a few dozen House GOP lawmakers got up and left. They convened on the Capitol steps to address the cameras.
Continue reading "House GOP Walks Out Over Contempt Vote, FISA"
Posted at 3:53 PM
Posted to:
Attorney Scandal, Bush Administration, Congress, Harriet Miers, Homeland Security, House, President Bush, Senate, Terrorism
Share via
February 13, 2008
House Panel Plays Hardball With Clemens
At a charged hearing today, Major League Baseball star Roger Clemens testified under oath that he has never used steroids or human growth hormone, even as House Oversight and Government Reform members charged that the pitcher had lied to the committee about his drug use.
"As we moved forward in our investigation, we found conflicts and inconsistencies in Mr. Clemens' account," Oversight and Government Reform Chairman Henry Waxman said. "During his deposition, he made statements that we know are untrue.... In other areas, his statements are contradicted by other credible witnesses or simply implausible."
The hearing, the second the committee has held on steroids and other drugs in Major League Baseball, featured contradictory statements by the seven-time Cy Young Award winner and his former trainer, Brian McNamee. McNamee told the panel today he had injected Clemens more than 20 times with steroids or human growth hormone. Clemens said he never took either drug, but was injected with vitamin B-12 and painkillers.
"Someone is lying in spectacular fashion," Oversight and Government Reform ranking member Tom Davis, R-Va., summarized. It is unclear if the committee will charge either man with perjury.
Continue reading "House Panel Plays Hardball With Clemens"
Posted at 4:51 PM
Posted to:
Congress, House
Share via
Lantos Remembered Ahead Of Clemens Hearing
Before inaugurating what was expected to be a tense day of testimony from Roger Clemens and Brian McNamee, the former trainer who claims to have injected the seven-time Cy Young Award winner numerous times with performance-enhancing drugs, House Oversight Chairman Henry Waxman took a moment to remember fellow California Democrat Tom Lantos.
"I think it's appropriate that as a longtime member of this committee and a very esteemed member of Congress, we recognize him and have a moment of silence," Waxman said, before allowing ranking member Tom Davis to say a few words.
"His keen intellect, indomitable spirit and wry insights left an indelible mark on all that he touched," the Virginia Republican said. "He will be missed and not forgotten."
Continue reading "Lantos Remembered Ahead Of Clemens Hearing"
Posted at 10:37 AM
Posted to:
Congress, House
Share via
Reps. Gilchrest & Wynn Lose Md. Primary Battles
Veteran Reps. Wayne Gilchrest (R) and Albert Wynn (D) of Maryland yesterday became the first members of Congress to lose their bids for renomination this year. The two relatively moderate lawmakers, both of whom were dogged by their positions on the Iraq war, each faced stiff opposition from the more extreme wings of their respective parties.
Gilchrest, who had bucked his party by voting against the Iraq war, lost to state Sen. Andy Harris, who had the backing of the fiscally conservative Club for Growth. Harris won, 44 percent to 32 percent, with 95 percent of precincts reporting as of early this morning. State Sen. E.J. Pipkin finished third in the GOP primary with 21 percent. In November, Harris will face Queen Anne's County State's Attorney Frank Kratovil in the Republican-leaning district on Maryland's Eastern Shore.
Meanwhile, in Maryland's majority-minority 4th District, attorney Donna Edwards was winning the Democratic nomination this morning, 60 percent to 35 percent, with 75 percent of precincts reporting. She had come close to ousting Wynn, who voted for the war in Iraq, in 2006.
Yesterday's results in Maryland, only the second state to hold its congressional primaries so far this year, suggest it's going to be another bumpy ride for incumbents as the war and economic issues continue to drive wedges within both major parties.
Continue reading "Reps. Gilchrest & Wynn Lose Md. Primary Battles"
Posted at 10:35 AM
Posted to:
Campaigns, Congress, House
Share via
February 11, 2008
Longtime Calif. Rep., Holocaust Survivor Lantos Dies At 80
UPDATED.
House Foreign Affairs Chairman Tom Lantos, the only Holocaust survivor to serve in Congress, died this morning at Bethesda Naval Medical Center from complications of cancer of the esophagus. He was 80.
Lantos' office made the announcement and noted that his wife, Annette, as well as his two daughters and many of his grandchildren were at his side. No date for memorial services or a funeral had been set by this afternoon. Lantos announced in early January he would not seek re-election because of the cancer diagnosis, although he had said he planned to finish out his term.
"The passing of Tom Lantos is a profound loss for the Congress and for the nation and a terrible loss for me personally," said House Speaker Nancy Pelosi, whose San Francisco-based district borders the 12th District seat held by Lantos since 1980. "As the only Holocaust survivor ever elected to Congress, Tom Lantos devoted his life to shining a bright light on dark corners of oppression. He used his chairmanship of the Foreign Affairs Committee to empower the powerless and give voice to the voiceless throughout the world."
Continue reading "Longtime Calif. Rep., Holocaust Survivor Lantos Dies At 80"
Posted at 3:25 PM
Posted to:
Congress, House
Share via
February 07, 2008
Stimulus Bill Heads To The President's Desk
UPDATED.
The House and Senate overwhelmingly passed a $152 billion stimulus package this afternoon, by votes of 380-34 and 81-16, respectively. The bill will provide tax rebates to more than 110 million Americans; the Senate version added senior citizens and disabled veterans to the list of those receiving rebates in the original House bill.
The legislation will likely receive a similar warm reception at the White House. In a statement today after the Senate vote, President Bush indicated his approval. "This plan is robust, broad-based, timely, and it will be effective," Bush said, adding that it was "an example of bipartisan cooperation at a time when the American people most expect it."
Senate Democrats dropped their proposals to add unemployment benefits and home heating assistance to the package after an earlier version was defeated yesterday. As soon as the revised legislation passed in the Senate, the House began an expedited debate this afternoon.
The Washington Post and MarketWatch have more details.
Posted at 7:50 PM
Posted to:
Congress, House, Senate
Share via
Mukasey: CIA Waterboarding Will Not Be Investigated
Attorney General Michael Mukasey today said the Justice Department will not open a criminal investigation into waterboarding by CIA employees because his department previously permitted use of the technique in interrogations of suspected terrorists. Waterboarding "cannot possibly be the subject of a Justice Department investigation, because that would mean that the same department that authorized the program would now consider prosecuting someone who followed that advice," Mukasey told the House Judiciary Committee at a department oversight hearing.
Mukasey's remarks followed an admission Tuesday by CIA Director Michael Hayden that the agency used waterboarding -- an interrogation technique that causes suspects to believe they are drowning -- on three al-Qaida detainees after Sept. 11, 2001. The department's Office of Legal Counsel has issued opinions that waterboarding is legal in some circumstances, though Mukasey and other Bush administration officials have said U.S. employees do not now use it.
Continue reading "Mukasey: CIA Waterboarding Will Not Be Investigated"
Posted at 4:39 PM
Posted to:
Bush Administration, CIA, Congress, House, Michael Mukasey, Terrorism
Share via
February 06, 2008
The Economy: Not So Super
The excitement surrounding yesterday's unprecedented Super Tuesday nominating contests obscured the latest and perhaps most damning news to come out on the troubled economy: Activity in the crucial service sector slowed for the first time in nearly five years last month.
The report from the Institute of Supply Management shows a significant decline in non-manufacturing activity (previously the "firmest pillar of economic expansion") in January. Those numbers, coupled with last week's news that jobs were declining, are heightening concerns that the economy is not only headed for a recession, but is already in one.
"Recession is here," the headline on CNNMoney.com read yesterday. The report quotes several economists who said the ISM report was the tipping point for them.
Continue reading "The Economy: Not So Super"
Posted at 12:20 PM
Posted to:
Bush Administration, Campaigns, Congress, Democrats, Economy, Hillary Rodham Clinton, House, John McCain, Mitt Romney, Republicans, Senate, WH 2008
Share via
February 05, 2008
Democrats Blast Bush's Budget Request
When President Bush delivered his final, $3 trillion-plus budget to Congress yesterday, congressional Democrats from both chambers wasted no time laying out their opposition to the proposal.
Senate Democrats quickly attacked the FY09 request, with Majority Leader Harry Reid blasting it as "more of the same," taking specific issue with the budget's proposed cuts in Medicare and Medicaid, its failure to address rising college costs and its neglect of energy issues. "Furthermore, this budget is fiscally irresponsible and highly deceptive, hiding the costs of the war in Iraq while increasing our skyrocketing debt," Reid said. Senate Finance Committee Chairman Max Baucus, D-Mont., said many of those proposed cuts will never get through Congress, particularly a proposed $178 billion cut in Medicare.
On the House side, the budget was met with condemnation from Democratic leaders for continuing "failed" policies and praise from Republican leaders for starting the annual conversation in a fiscally sound manner. The annual rhetorical battle over federal priorities sets up a replay of last year's partisan budget showdown, but with an election-year edge heightened by the economic downturn.
Continue reading "Democrats Blast Bush's Budget Request"
Posted at 10:22 AM
Posted to:
Bush Administration, Congress, House, President Bush, Senate
Share via
January 30, 2008
Fed Watch: There Will Be Cuts
UPDATED.
A Wall Street rally following a 50-basis-points rate cut from the Fed today was not long for this world, as yet another negative economic report sent the Dow back down 37.47 points to close at 12,442.83. The S&P 500 and Nasdaq also pulled back from afternoon bumps.
Earlier in the afternoon, the Fed slashed interest rates to 3 percent, as was widely anticipated. The confirmation sent the Dow Jones industrial average and the S&P 500 ticking back up. But bad news from the bond sector sent those indexes sinking back down.
The brief rally may just have been a sigh of relief that the Fed had delivered as projected. New data released today show economic growth is grinding down, heightening fears of a recession this year.
"Financial markets remain under considerable stress, and credit has tightened further for some businesses and households. Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets," the Federal Open Market Committee said in a statement. "The committee expects inflation to moderate in coming quarters, but it will be necessary to continue to monitor inflation developments carefully."
Chairman Ben Bernanke joined in the near-unanimous decision. Voting against the cut was Richard Fisher, president of the Federal Reserve Bank of Dallas. The Board left the door open to future reductions.
"It's great that they did it now. I wish they had done it earlier," said CNBC's Jim Cramer, who has been screaming -- sometimes literally -- about the Fed's slowness to act on the housing bust and credit crunch.
Continue reading "Fed Watch: There Will Be Cuts"
Posted at 5:04 PM
Posted to:
Bush Administration, Congress, Economy, Federal Reserve, House, President Bush, Senate
Share via
Virginia Rep. Davis Rules Out Re-Election
Rep. Tom Davis, R-Va., ranking member of the House Oversight and Government Reform Committee and a strong proponent of D.C. voting rights, this afternoon became the third Republican in two days to announce he will not return to the House next year.
"After much soul-searching and discussion with those closest to me, I have decided the time is right to take a sabbatical from public life," he said in a statement. "I will serve out the remainder of my term, and plan to remain an active contributor to Republican causes, but will not run for office in 2008."
His announcement, coupled with yesterday's retirement announcement from Rep. Ron Lewis, R-Ky., and Missouri Rep. Kenny Hulshof's decision to run for governor, now mean there are 24 Republicans and 29 House members overall who are either retiring or running for higher office this year.
CongressDaily has a full list (subscription) of departing lawmakers and will have more details on Davis' announcement later this afternoon.
Posted at 2:37 PM
Posted to:
Campaigns, Congress, House
Share via
Both Houses Approve Short FISA Extension
The House and Senate approved legislation yesterday to extend a law authorizing electronic surveillance activities for 15 days beyond Friday's scheduled expiration.
The extension, which passed the House by voice vote and the Senate by unanimous consent, is intended to buy time for lawmakers to craft permanent legislation that would overhaul and reauthorize the Foreign Intelligence Surveillance Act.
In the Senate, Democrats and Republicans were still arguing over how to deal with amendments to the Senate Intelligence Committee's FISA reauthorization bill.
Continue reading "Both Houses Approve Short FISA Extension"
Posted at 7:47 AM
Posted to:
Congress, House, Senate
Share via
January 29, 2008
House Passes Stimulus Package
The House approved a $146 billion economic stimulus package today on an overwhelming 385-35 vote. The package now heads to the Senate, where tinkering with the bill is being criticized by lawmakers who reached a deal with President Bush.
"I would hope that the timely aspect of this is recognized by my colleagues in the Senate," House Speaker Nancy Pelosi said. "We have to have a stimulus. There's just no question. Once you understand that, then you have a responsibility to work back to that and find common ground. I would hope that what the Senate does is respectful of the focus that we have on middle-class and lower-income people."
The House measure would send rebate checks worth $600 to individuals and $1,200 for families, plus $300 per child, while providing tax breaks to businesses. Most of the revenue loss associated with the bill takes place in FY08.
See CongressDaily (subscription) and The Gate's previous coverage of the House-negotiated bill for more details.
-Peter Cohn, CongressDaily
Posted at 3:37 PM
Posted to:
Bush Administration, Congress, Economy, House, President Bush, Senate
Share via
Baucus Stimulus Bill Has Key Add-Ons
Senate Finance Committee Chairman Max Baucus, D-Mont., unveiled a roughly $156 billion economic stimulus package yesterday, adding low-income seniors and laid-off workers to those who would benefit from a previously agreed-upon House proposal. Business incentives would also be expanded to let companies write off losses going back five years, offsetting earlier gains and earning them refunds on previous tax bills.
"Rebates for seniors and payroll taxpayers, extended unemployment insurance, and tax relief for struggling businesses will put more cash into the American economy right away," Baucus said in a statement.
In the most significant departure from the House proposal, the Finance bill would extend jobless benefits through the end of 2008, making 13 additional weeks of unemployment insurance available. For states where unemployment rates are 6 percent or higher, an additional 13 weeks would be available.
Continue reading "Baucus Stimulus Bill Has Key Add-Ons"
Posted at 9:26 AM
Posted to:
Bush Administration, Congress, Economy, House, President Bush, Senate
Share via
January 28, 2008
Liveblogging President Bush's Final State Of The Union Address
End note. SOTU affairs are always a laundry list, and few expect them to deliver poetry. This year's address (full text) did lack the rhetorical punch of previous years, particularly Bush's first SOTU address following 9/11, which received very high marks.
If there is one character trait that describes this president, it is determination-bordering-on-
stubbornness. He has largely ignored polls and the punditry, and he only changed tacks in Iraq when the calls for a change in course permeated his own administration. Plenty of Americans didn't tune in to this speech tonight, on the assumption Bush is a lame duck. That is probably not the case, at least as far as the legislature is concerned.
With his veto threat and the executive order coming Tuesday, Bush is asserting himself in a dramatic way. The rate of federal spending under Bush's watch is triple that of the Clinton administration. That Bush is positioning himself to put a foot down on pork-barrel spending was pretty unexpected in his final year in office. We'll be watching to see how it pans out.
As for Bush's various claims in tonight's speech, NPR's reporters have been posting fact checks all evening. See their corrections on the tax cuts, FISA, Iraq and entitlement reform. Good night.
10:27. A somewhat unexpected criticism of the president here: "In spite of the attempts to convince us that we are divided as a people, a new American majority has come together. We are tired of leaders who rather than asking what we can do for our country, ask nothing of us at all.
"We are Americans sharing a belief in something greater than ourselves, a nation coming together to meet challenges and find solutions; to share sacrifices and share prosperity; and focus, once again, not only on the individual good but on the common good."
It should come as little surprise that Sebelius has endorsed Barack Obama. This speech reflects Democrats' palpable eagerness to move the country well away from the Bush era.
Continue reading "Liveblogging President Bush's Final State Of The Union Address"
Posted at 10:47 PM
Posted to:
Barack Obama, Bush Administration, Campaigns, Climate Change, Congress, Democrats, Economy, Hillary Rodham Clinton, House, Iraq, Middle East, Military, President Bush, Senate, Taxes, Terrorism, Trade, Veterans, WH 2008
Share via
January 24, 2008
House Leaders: Stimulus Not Perfect But Will Do The Trick
UPDATED.
In a rare display of bipartisan camaraderie, House Speaker Nancy Pelosi and Minority Leader John Boehner urged colleagues to get their $145 billion compromise stimulus package to the White House ASAP.
"We will bring it to the floor at the earliest date so those rebate checks can be in the mail," Pelosi said during a joint press conference with her Republican counterpart and Treasury Secretary Henry Paulson, who represented the Bush administration during the late-night negotiations yesterday.
The legislation includes tax rebates from $300 to $1,200, with low-wage earners at one end and middle-income joint filers on the other. Recipients will also receive a $300-per-child bonus on top of what they get in rebates.
Those figures are lower than the expected $800-$1,600 range, but in exchange for lowering the disbursements, congressional Republicans agreed to extend the rebates to workers who don't earn enough to pay income taxes. Individuals who earned at least $3,000 in 2007 will get a check for $300, while mid-level earners would receive at least $600. Individuals earning more than $87,000 and families earning more than $187,000 won't get a check. Individuals who fall in the $75,000-$87,000 range and households in the $150,000-$187,000 would receive reduced checks.
"This is an initiative to strengthen the middle class and those who aspire to be in the middle class," Pelosi said, adding that the rebates were going to those who will "spend it right away to inject demand into the economy to help create jobs and to help turn around the economy."
Calling the deal "a big win for the American people," Boehner seconded Pelosi's assessment of the package. "It will stimulate our economy in the most direct and effective way possible, by putting money in the hands of middle-income families and giving businesses incentives to create and keep new jobs in the economy," he said
Both sides were forced to make concessions in order to reach speedy agreement on the package. Pelosi and her caucus gave up on an expansion of food stamps and unemployment benefits, and also consented to as much as $50 billion in tax breaks for businesses. In return, Republicans agreed to extend the rebates to the 35 million-plus workers who don't earn enough to owe income taxes and would have been ineligible for the rebates under President Bush's original plan.
"The Speaker gave some, we gave some. This was not easy, as most of you know, for the two of us and our respective caucuses... to have to come together and work in a bipartisan way and reach a compromise that I think is in the interest of the American people," Boehner said.
"I can't say that I'm totally pleased with the package, but I can say it will help the economy. And if it does not, there will be more legislation to come," Pelosi vowed.
Continue reading "House Leaders: Stimulus Not Perfect But Will Do The Trick"
Posted at 3:40 PM
Posted to:
Bush Administration, Congress, Economy, Federal Reserve, House, President Bush, Senate, Taxes
Share via
January 18, 2008
Waxman: Hundreds Of Days Of WH E-Mails Missing
Henry Waxman fired the next volley in Congress' fight with the Bush administration over missing White House e-mails, publicly challenging the administration's version of events and setting a hearing for Feb. 15. The chairman of the House Oversight and Government Reform Committee strongly disputed White House spokesman Tony Fratto's comments yesterday that there was "no evidence" any e-mails sent between 2003 and 2005 were missing.
"We have no evidence and we have no way of showing that any e-mail at all are missing," Fratto said yesterday -- moving away from the White House's earlier position that it was uncertain about the matter.
That assertion seemed to go one step too far for Waxman, who called Fratto's assertion "an unsubstantiated statement that has no relation to the facts they have shared with us."
The California Democrat disclosed an internal White House summary showing that, contrary to Fratto's statement, there were 473 days between 2003 and 2005 during which no electronic communication was archived for some government offices. Among them are the Executive Office of the President, which had no backup copies for 12 days, and the Office of the Vice President, which had no backup copies for 16 days. The White House is required to preserve official communication.
AP and the Washington Post have more details on the hearings set for next month.
Posted at 8:55 AM
Posted to:
Bush Administration, Congress, House
Share via
January 17, 2008
Dow Plummets; Bernanke Calls For Stimulus ASAP
UPDATED.
Blue chips sank more than 300 points today, the biggest single-day drop of the year so far. The slide suggests that a federal economic stimulus fix currently in the works may be arriving too late for investors' tastes.
Federal Reserve Chairman Ben Bernanke told lawmakers this morning that if they were serious about putting the brakes on the U.S. economic slowdown, any congressional stimulus package would have to be implemented sooner rather than later.
"To be useful, a fiscal stimulus package should be implemented quickly and structured so its effects on aggregate spending will be felt in the next months or so," Bernanke said in his opening remarks before the House Budget Committee. "There could be destabilization if the package comes at a time growth is improving. Measures that rely on long lead times will not provide stimulus when it is most needed."
President Bush had been expected to announce his own stimulus package ahead of his State of the Union address on Jan. 28, but the White House said today that he would be discussing the proposals on deck in a speech tomorrow. Investors are clearly impatient for some sort of cash injection into the economy, and a round of negative economic reports today only underscored the urgency with which Wall Street wants help halting the nation's growth slowdown.
Notably, Bush appears to be heeding the advice dispensed by Bernanke, and moving more quickly on a stimulus package than originally planned. At the noon press briefing, while Bernanke was still testifying, spokesman Tony Fratto said there was no time frame for when the president planned to address the economy and indicated the White House was still hanging on to hope it would be able to use the package to make tax cuts permanent.
Bush met with congressional leaders from both parties following Bernanke's testimony, and press secretary Dana Perino announced that the president's main concerns now were that the package be temporary, effective and pass as quickly as possible. According to House Minority Leader John Boehner, the package could top out at $150 billion.
Continue reading "Dow Plummets; Bernanke Calls For Stimulus ASAP"
Posted at 4:46 PM
Posted to:
Ben Bernanke, Bush Administration, Congress, Economy, Federal Reserve, House, President Bush, Taxes
Share via
House Approves Revised FY08 Defense Authorization Bill
The House yesterday quickly approved a revised version of the FY08 defense authorization bill that addresses objections raised by the White House last month when President Bush unexpectedly vetoed the measure.
The Pentagon policy bill, which passed 369-46 on the suspension calendar, now heads to the Senate, where it is expected to encounter little opposition. That chamber, which is in recess until next week, has been closely involved in negotiations over the changes to the bill, lawmakers and congressional aides said. They hope that the Senate will take up the bill shortly after returning to Capitol Hill and quickly send it to the president's desk for his signature.
Continue reading "House Approves Revised FY08 Defense Authorization Bill"
Posted at 8:55 AM
Posted to:
Bush Administration, Congress, House, Iraq, Military, President Bush, Senate
Share via
January 16, 2008
PAYGO Divides Dems Crafting Stimulus Plan
House Democratic mantras requiring adherence to budgetary offsets and a "timely, targeted and temporary" response to a possible recession are bumping up against each other, as PAYGO budget rules are again stirring up divisions within the ranks.
"PAYGO could be a problem," said House Financial Services Committee Chairman Barney Frank, D-Mass., who met yesterday with the House Democratic leadership and other committee chairmen involved in the stimulus talks.
As much as $120 billion in spending and tax proposals are under consideration. Spending components could be designated as an "emergency" and not require offsets. And under House rules, new tax or mandatory spending initiatives only have to be paid for over a five-year period.
Frank said that fact might assuage some of his party's budget hawks.
Continue reading "PAYGO Divides Dems Crafting Stimulus Plan"
Posted at 9:42 AM
Posted to:
Bush Administration, Congress, Economy, House, President Bush
Share via
January 15, 2008
Vetoed Authorization Bill Puts Military Bonuses On Hold
After relying heavily on financial incentives to attract recruits and retain war-weary troops, the military has had to put the brakes on awarding signing bonuses until Congress and the Bush administration resolve a dispute over President Bush's veto of the FY08 defense authorization bill.
House Democrats announced yesterday they would hold a vote tonight "disposing of" the president's veto of the annual policy measure over a provision the administration fears would tie up the assets of the current Iraqi government in court claims filed by victims of Saddam Hussein's regime.
A Democratic aide said a vote to override the veto is possible today, even though the White House contends the bill was killed by a pocket veto, a rejection that cannot be challenged by Congress. But the likely course of action, the aide said, would be to refer the bill back to the House Armed Services Committee, which would then "fix" the provision to smooth the way toward enactment.
Continue reading "Vetoed Authorization Bill Puts Military Bonuses On Hold"
Posted at 9:06 AM
Posted to:
Bush Administration, Congress, Constitution, House, Military, President Bush
Share via
January 14, 2008
Democrats Seeking Broad Backing For Stimulus Package
As part of an effort to seek bipartisan agreement on an economic stimulus package, House Speaker Nancy Pelosi met today with Federal Reserve Chairman Ben Bernanke, and other Democrats laid out their ideas for an aid proposal.
"We hope to work in a bipartisan way for an initiative that is timely, targeted and temporary," Pelosi said before this afternoon's closed-door meeting. Quick action on a stimulus package has become the top issue for the White House and Democratic congressional leaders, although neither side has offered details. House Democratic leaders are expected to meet Tuesday, when that chamber returns to Washington after the long holiday recess, to discuss the legislative possibilities.
Pelosi and Senate Majority Leader Harry Reid have requested meetings with President Bush after he returns Wednesday from a visit to the Middle East. The Senate returns to work next week.
Continue reading "Democrats Seeking Broad Backing For Stimulus Package"
Posted at 4:20 PM
Posted to:
Bush Administration, Campaigns, Congress, Economy, House, President Bush, Senate, WH 2008
Share via
January 10, 2008
Doolittle To Retire Amid Growing GOP Pressure
UPDATED.
Rep. John Doolittle, R-Calif., announced today that he will not seek re-election for a 10th term in office, ending months of speculation that he would leave Capitol Hill under the cloud of a federal investigation. "I plan to complete my term and finish my congressional service at the conclusion of this Congress," Doolittle said at a news conference today in his district.
"My wife, Julie, and I have made this decision after much prayer and deliberation. It was not my initial intent to retire, and I fully expected and planned to run again right up until very recently. But it distilled upon us that we were ready for a change after spending almost our entire married lives with me in public service." Doolittle and his wife are under scrutiny as part of the influence-peddling probe of imprisoned lobbyist Jack Abramoff.
In April, the FBI raided Doolittle's Virginia home in pursuit of information regarding work his wife performed for Abramoff. Since then, the lawmaker and several of his aides have been served grand jury subpoenas, and it was unlikely his legal situation would be resolved before the November elections. Doolittle is challenging subpoenas issued to him for office records and said he believed the federal probe of him would be on hiatus for one to two years while courts decide on the constitutionality of the subpoenas.
Continue reading "Doolittle To Retire Amid Growing GOP Pressure"
Posted at 3:20 PM
Posted to:
Congress, Crime, House, Jack Abramoff
Share via
