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Political Briefing
Legislative News for the Week of February 7, 2011
In This Issue
Spending Showdown on the Horizon
Repeal and Replace Update
On the Hill
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Spending Showdown on the Horizon

 Money 

 

House Republicans are keeping their pledge to Americans to take the steps necessary to rein in the federal spending spree in Washington and reduce our federal debt.

 

In a speech at the Conservative Political Action Conference this week, Speaker John Boehner outlined House Republican plans to cut $100 billion in discretionary spending next week. 

 

You can watch Speaker Boehner's full speech here.

 

Federal Reserve Chairman Ben Bernanke has publicly stated twice in the last week the effects of the spending spree in Washington saying, "one of the best things we can do for short-term economic growth is to put out a plan that actually stabilizes our fiscal picture."

 

House Budget Committee Chairman Paul Ryan (R-WI) outlined the fiscal crisis and what must be done to jumpstart our economy and job creation.

 

"On the fiscal side, the CBO* projects a $1.5 trillion deficit this year with publicly-held debt rising to 69 percent of GDP by the end of the year - up from 40 percent at the end of 2008. In a few short years, the CBO* projects government spending to drive our debt to crisis levels, overwhelming the entire economy and drowning the next generation in red ink.  Endless borrowing is not a strategy.  We must restore the foundations of economic growth - low taxes, spending restraint, reasonable regulations, and sound money - to help restart the engines of economic growth and job creation."

 

We will continue to be involved in this debate as we support our Republicans in their efforts to reduce the federal deficit and jumpstart job creation. Stay tuned!

 

*Congressional Budget Office

  Repeal and Replace Update

 

Gavel 

The Senate voted last Wednesday to roll back part of the Obamacare bill with a bipartisan vote of 81-17 eliminating the a tax reporting requirement for businesses, with a bipartisan vote of 81-17. 

 

The provision required business owners to file 1099 tax documents on all cumulative purchases from a single vendor that totaled more than $600 in a year. 

 

President Obama identified this provision as an area that Democrats were willing to compromise on during his State of the Union address.

 

In a continued victory for the fight to repeal Obamacare , U.S. District Judge Roger Vinson sided with the 26 states who brought a federal lawsuit against the Obamacare bill. 

 

He ruled with the state's argument which said the new law violates people's rights by forcing them to purchase health insurance or face tough penalties. 

 

The case will most likely be headed to the United States Supreme Court. 

On the Hill

 

Rep. Chris Lee (R-NY) has resigned due to a scandal involving an attempt to pursue a date with a woman over Craigslist.

 

The House did not pass an extension of the USA PATRIOT Act by failing to reach a two-thirds vote.

 

Senator John Thune (R-SD) has said he will likely announce by the end of February whether or not he will seek the Republican nomination for President in 2012.

 

Sen. Jim Webb (D-VA) announced he will not seek a second term in 2012. Former Senator George Allen has announced he will run for the Republican nomination.

 

Sen. Jon Kyl (R-AZ) has announced he will not seek another term in 2012.

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