Congress adjourned for the year without extending most of the tax provisions that expire on December 31, 2007, which will require a retroactive extension when Congress reconvenes.  The Joint Committee on Taxation prepared a summary of all expiring tax provisions for 2006 – 2020.

Tagged as: tax
Posted 21 Dec 2008

Each week the Policy Blog will feature a Senate Update, which will provide a summary of floor action from the previous week.

Tagged as: senate update
Posted 20 Dec 2008

The Minerals Management Service (MMS) has begun the leasing process for acreage off the shore of Virginia for oil and gas production.  In July 2008, President Bush repealed an Executive Order banning such exploration, and a similar Congressional moratorium expired on September 30, 2008.  In related news, the Secretary of the Interior recently released an assessment estimating that Alaska’s North Slope holds 85.4 trillion cubic feet of recoverable gas.    These gas hydrates might contribute significantly to future energy use in the United States, according to the Department of the Interior.

Tagged as: energy
Posted 14 Nov 2008

Today, the Washington Post published an editorial urging passage of the Colombia free trade agreement.  The agreement with Colombia would allow American manufacturers, including troubled automakers, to export products to Colombia tariff-free.  Under the Uribe Administration, the Colombian government has made significant progress towards reducing violence and improving human rights in the country - the murder rate has declined by 40 percent and kidnappings have fallen by 75 percent since 2002.

Tagged as: trade
Posted 12 Nov 2008

House Budget Committee Republicans released an analysis of the Democrats’ $300 billion stimulus proposal – ‘A $300-Billion Stimulus Bill, With Questionable Economic Benefit.’  Additionally, the Heritage Foundation provided an examination of ‘How to Successfully Stimulate the Economy.’

Tagged as: economy
Posted 28 Oct 2008

On October 20, 2008, House Republicans sent a letter to Attorney General Michael Mukasey requesting that Fannie Mae and Freddie Mac be included in the Operation Malicious Mortgage investigation being conducted by the Department of Justice.  (Financial Services Committee Republicans Press Release, 10/20/08)

Tagged as: housing
Posted 22 Oct 2008

The Republican Members of the Rules Committee recently released a report detailing the Democrat Majority’s broken promises on openness and transparency in the 110^th Congress.  The report focuses on the lack of regular committee order, restricted debate and amendment opportunities, and a closed conference process.

Tagged as: Uncategorized
Posted 17 Oct 2008

Republicans on the House Natural Resources Committee recently released two energy-related reports – “America’s Oil & Supply” and “Drilling for the Truth and Coming Up Empty.”  These two reports provide helpful information regarding the U.S. energy supply as well as a rebuttal of Democrats’ flawed report on oil and gas leasing on federal lands.

Tagged as: energy
Posted 17 Oct 2008

This morning President Bush announced additional steps the Administration will take to restore confidence in the U.S. banking system.  Federal Reserve Chairman Ben Bernanke had an op-ed in today’s Wall Street Journal that provides a helpful look at the financial markets and measures being taken to address the crisis.  Last week, John Steele Gordon wrote an op-ed, which also appeared in the Wall Street Journal, on the history of the U.S. banking system.

Tagged as: economy
Posted 14 Oct 2008

Oversight and Government Reform Committee Republicans released a report on Monday that details the root causes of the financial crisis. The report includes examples of Washington’s failure to address the problems at Fannie Mae and Freddie Mac, which Republicans have sought to reform for years.

Tagged as: economy
Posted 08 Oct 2008