McConnell Offers Compromise to Act Quickly on Extender Bill; Reid Skeptical
Jul 03, 2008 2:53 PM
Fine-tuning his stance on legislation that would extend a series of popular tax breaks, Senate Minority Leader Mitch McConnell (R-Ky.) today announced that he and his Conference would accept a fully offset bill as long as cuts in spending - rather than just the closure of tax loopholes - were used to help counter the legislation's cost. McConnell outlined his position in a letter to Majority Leader Harry Reid (D-Nev.) and Speaker Nancy Pelosi (D-Calif.). McConnell's assurance could bring the two sides closer to a quick, bipartisan consensus bill that extends relief to businesses and families while not worsening the deficit.
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Jul 03, 2008 2:26 PM
Next week, the Senate plans to return to several key bills that failed to advance prior to the July Fourth recess: a measure to aid the troubled housing and mortgage market, legislation to update the Foreign Intelligence Surveillance Act and a bill to forestall a scheduled Medicare reimbursement cut for physicians. The House plans to announce its full schedule for next week during the weekend, although legislation about White House e-mails is expected on the floor next week.
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Republicans Again Call for One-Month Medicare Extension, but Democrats Balk
Jul 03, 2008 1:22 PM
Sen. Mitch McConnell
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Senate Republican leaders today called for a short-term extension of current Medicare reimbursement rates once Congress returns from recess next week, saying they want to give Members time to work out a broader and longer-lasting compromise. Minority Leader Mitch McConnell (R-Ky.), Minority Whip Jon Kyl (R-Ariz.) and Finance ranking member Chuck Grassley (R-Iowa) sent a letter today to Majority Leader Harry Reid (D-Nev.) urging a 31-day extension of expiring Medicare provisions. But Democrats were quick to dismiss that approach.
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House Armed Services Committee Members Gird for Face-Off Over Flawed Tanker Competition
Jul 03, 2008 1:12 PM
Members of the House Armed Services Committee will publicly grill Pentagon and Air Force officials next week over a botched aerial refueling tanker competition that awarded the multibillion-dollar contract to Northrop Grumman and its overseas partner, European Aeronautic Defence & Space, over the Boeing Co. In the wake of a Government Accountably Office report that found “significant errors” in the Air Force’s $35 billion award for nearly 200 new refueling aircraft — and that called for a new competition — the House Armed Services Committee is scheduled to hold a public hearing Thursday to seek answers about the mistakes made.
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OMB Releases Annual Study on Costs of Regulation, Unfunded Mandates
Jul 03, 2008 3:11 PM
The Office of Management and Budget has released its annual report to Congress on the cost of both federal regulations and unfunded mandates. The report analyzes the cost to the private sector and state, local, and tribal governments of regulatory compliance. The report finds an average yearly cost for federal regulations of $2.9 billion from 2001 to 2006. In addition, the report looks at the extent to which federal agencies have abided by the terms of the Unfunded Mandates Reform Act, a law designed to minimize the number of federal rulemaking burdens placed on entities outside the federal government. The report is available here.
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Document of the Day: Legislation for Next Week
Jul 03, 2008 11:18 AM
Next week, the Senate plans to resume consideration of the Housing and Economic Recovery Act of 2008 (H.R. 3221). Two other matters sent over from the House of Representatives may see action later in the week — a compromise bill to amend the Foreign Intelligence Surveillance Act (H.R. 6304), which makes it possible for telecommunications companies to receive retroactive immunity from civil penalties over cooperating with government wiretapping, and the Medicare Improvements for Patients and Providers Act of 2008 (H.R. 6331), which would put off a cut in Medicare reimbursement to physicians. Medicare payments to physicians were to be cut on July 1, but the Department of Health and Human Services has delayed processing claims in the hope that a compromise may be reached. Both measures were left as unfinished business when the Senate left for the Fourth of July recess. The House will announce its schedule for next week over the weekend. House Members are scheduled to return to the Capitol on Tuesday with votes postponed until 6:30 p.m.
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Jul 03, 2008 12:09 PM
A listing of hearings and markups scheduled for Monday, July 7, through Friday, July 11.
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