|
Monday, June 16, 2008
DAILY FISCAL POLICY REPORT -- June 16, 2008
Supplemental -- House Aims to Pass Bill by July 4: The House floor may see key action this week toward passage of the war spending supplemental package covering the costs of the Iraq and Afghanistan wars for the rest of FY08 and into FY09. The bill has been delayed as Democrats have sought consensus on whether expanded veterans benefits, extended unemployment benefits and other domestic spending provisions will be attached and offset. Speaker Nancy Pelosi (D-CA) said last week that Congress will have the bill ready for the president's signature by July 4. If Democrats can reach a deal, the bill could go to the Rules Committee on Tuesday and be on the floor Wednesday. Story.
Budget -- The Killer 302(b)s on Their Way: The appropriations process has gotten off to a slow start this year because of the late approval of a final budget resolution and the continuing negotiations on a FY08 supplemental war spending bill. But the House Approps Committee released its 302(b) spending allocations last Friday and the Senate panel will release its allocations this week. They are expected to be similar. The majority of the 302(b) caps violate the veto thresholds outlined by President Bush in February. OMBW Approps Chart.
Extenders -- Business, Senate Dems Eye PAYGO : In letters sent to the Senate GOP leadership this past week, Senate Democrats and hundreds of major U.S. corporation have urged the GOP to drop its opposition to paying for the dozens of popular tax breaks known as "extenders" in the $55 billion bill ($120 billion, including the AMT patch) expected to hit the Senate floor in the coming days. The Democratc' letter tells the GOP: "your statements give the impression you are... blocking this much-needed tax relief... in order to protect a small group of wealthy investment-fund managers." Senate Democratic Letter. Story on Corporate Letter.
Posted by Dana Chasin
|