From TALKING POINTS MEMO:
Democrats are pushing hard on ending tax breaks for oil companies, linking the issue to the deficit and high gas prices, which have boosted profits in the industry to new heights.
In a floor speech on Tuesday, Majority Leader Harry Reid (D-NV) said the Senate would target $4 billion in benefits for oil companies with the intention of using the savings to help address the nation’s growing debt.
“If we’re serious about reducing the deficit, this is an easy place to start,” Reid said. “It’s a no-brainer. Let’s use the savings from these taxpayer giveaways to drive down the deficit, not drive up oil company profits.”
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Filed under Congress, Democrats, Harry Reid, humor, John Boehner, movies, parody, politics, Republicans, Senate, Senate Finance Committee, snark, Wordpress Political Blogs
Tagged as 2012 election, Big Oil, Claire McCaskill, Corporate greed, debt, deficit, gas prices, House of Representatives, Jon Tester, Max Baucus, oil, oil subsidies, Robert Menendez, Sherrod Brown, tax loopholes, taxes
From The CHRISTIAN SCIENCE MONITOR:
In a retake recalling the film version of “Groundhog Day,” the Senate today redebated the 2010 health-care reform law – this time, in a bid to repeal it.
The measure to repeal was proposed as an amendment to the Federal Aviation Administration Reauthorization bill. It failed a procedural challenge on a strict, party-line vote, 47 to 51. On. Jan. 19, House Republicans voted to repeal the health care law, 245 to 189. They were joined by three Democrats.
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Filed under Barack Obama, Ben Nelson, Bill Nelson, Carl Levin, Chimpy, Congress, Constitution, Democrats, George W. Bush, Harry Reid, humor, John Cornyn, John McCain, Lindsey Graham, Medicaid, movies, parody, politics, Republicans, Ronald Reagan, Senate Judiciary Committee, snark, Supreme Court, Wordpress Political Blogs
Tagged as 2000 election, 2012 election, Attorney General, Barbara Mikulski, CBO, Charles Fried, Claire McCaskill, commerce, Congressional Budget Office, Debbie Stabenow, deficit, economy, governor, Groundhog Day, health care, individual mandate, jobs, Joe Manchin, John Barrasso, John Kroger, Jon Tester, Michael Carvin, oil, Randy Barnett, recount, small businesses, Solicitor General, tax breaks, taxes, Walter Dellinger
From the Los Angeles Times:
The financial services industry is in trouble over its role in crashing the world economy, but that doesn’t mean its lobbyists have lost all their muscle on Capitol Hill.
Exhibit A: The Senate delivered a stinging rebuff to President Obama and consumer advocates Thursday by rejecting a measure to help homeowners facing foreclosure.
The vote was 51 to 45, with 12 Democrats joining Republicans in opposing the proposal, under which bankruptcy judges could order lenders to reduce the principal on home mortgages.
The proposal, which sailed through the House in March, was a key part of Obama’s plan to reduce the tide of home foreclosures.
Damn! Even Evan Bayh voted yes! Not so these twelve, who…
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Filed under Arlen Specter, Barack Obama, Ben Nelson, Congress, Democrats, Dick Durbin, Evan Bayh, humor, Mary Landrieu, movies, parody, politics, Republicans, Senate, snark, Tom Carper, Wordpress Political Blogs
Tagged as ABA, American Bankers Association, bailout, banking, bankruptcy, Blanche Lincoln, Byron Dorgan, Center for Responsive Politics, consumer protection, cram down, credit cards, Direct Contact Bankers, economy, foreclosures, Jon Tester, lobbying, lobbyists, Mark Pryor, Max Baucus, Michael Bennet, Mortgage Bankers Association, mortgages, Robert Byrd, Tim Johnson