Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.
The Washington Independent
The Washington Independent

Baucus Revives Extenders’ Bill

Today, Sen. Max Baucus (D-Mont.), the head of the Senate Finance Committee, introduced deficit-neutral legislation including the closing of a whole lot of

Dexter Cooke
Last updated: Jul 31, 2020 | Sep 16, 2010

Today, Sen. Max Baucus (D-Mont.), the head of the Senate Finance Committee, introduced deficit-neutral legislation including the closing of a whole lot of loopholes and the reauthorization of a whole bunch of jobs programs. (That TANF Emergency Fund reauthorization I mentioned earlier today? That’s in there, for one.)

The number of small changes to programs and taxes is dizzying. The bill re-ups the Build America Bond programs. It includes tax breaks for small businesses. It modifies dozens of other taxes. It reinstates the research and development tax credit. It provides funding for jobs for 350,000 youths. It provides continued funding for a national study of child welfare. It gives money to the National Housing Trust Fund. It provides disaster-relief funding and helps workers in the Gulf. It includes dozens of incentives for green vehicles and retrofitting. It makes changes to the health-care law and has some provisions for Native Americans and the timber industry.

It also lifts the oil-spill liability cap: “Analysts estimate that the cost of the oil spill in the Gulf of Mexico could exceed $14 billion. The companies that caused this oil spill are responsible for all of the costs of cleanup and up to $75 million of additional damages. These companies are responsible for all additional damages if they are found to be grossly negligent, to have engaged in willful misconduct, or to have violated an applicable Federal safety, construction or operating regulation. To the extent that costs are not borne by the parties responsible for the spill, up to $1 billion of additional damage costs.”

And it creates an “Office of the Homeowner Advocate,” which would “assist homeowners, housing counselors, and housing lawyers in resolving problems with the Home Affordable Modification Program (HAMP), a temporary program to help homeowners who are struggling to keep up with payments on their mortgages.”

The payfors? It changes the taxing of carried interest: “The bill would prevent investment fund managers from paying taxes entirely at capital gains rates on investment management services income received as carried interest in an investment fund.” That raises more than $13 billion.

Then, it cuts food stamps, as Senate Democrats have already done twice in recent months, angering their colleagues in the House. The summary notes: “[E]ffective January 31, food stamp benefits will return to the levels that individuals would have received in 2014 under pre-Recovery Act law. This modification reduces the cost of the bill by $13.79 billion over ten years.”

Dexter Cooke | He is an orthopedic surgeon who insists that a physician's first priority should be patient care. He specializes in minimally invasive complete knee replacement surgery and laparoscopic procedures that reduce pain and recovery time. He graduated from the Medical University of South Carolina with a medical degree and a postdoctoral fellowship in orthopedic medicine.


$1.89 billion given to states to fight HIV

The federal government Monday announced more than $1.89 billion in funding to states to fight the HIV epidemic with access to care and with more cash for the failing AIDS Drug Assistance Program. According to an HHS press release , $813 million of that money will go directly to the ADAP programming. An additional $8,386,340 will be issued as a supplement to 36 states and territories currently facing a litany of unmet needs and access issues.

Army Data Shows Constraints on Troop Increase Potential

If President Obama orders an additional 30,000 to 40,000 troops to Afghanistan, he will be deploying practically every available U.S. Army brigade to war, leaving few units in reserve in case of an unforeseen emergency and further stressing a force that has seen repeated combat deployments since 2002.

1. Brian Schweitzer

As governor of Montana, Schweitzer doesn’t represent one of the most highly populated, high-profile electoral states in the country. But this

$1.3 Million for Brown

The GOP’s candidate in the Massachusetts special election raised more than one million dollars -- double the goal -- in a 24-hour moneybomb on the Ron Paul

$1.3 trillion in federal spending unaccounted for, report finds

Despite calls for independent bodies to keep government accountable, the Sunlight Foundation’s most recent Clearspending report has found the federal

#1 in Conspiracy Theories

Andrew Young’s tell-all biography of John Edwards, hitting shelves next week, is surging in one category in particular. #1 in Conspiracy

1 Brigade and 1 Battalion

ISTANBUL – It’s 10 p.m. in the lowest level of the Istanbul airport. In 20 minutes I’ll be allowed to board my plane to Kabul, bringing me to the

$1 Million for Toomey

Pat Toomey, the former Club for Growth president and leading Republican candidate in Pennsylvania’s 2010 Senate race, has announced a $1 million haul in the

1. Lindsey Graham

Sen. Graham (R-S.C.) is typically regarded as a reliable vote for his party, but he took the bold step of breaking with his fellow Republicans to join Kerry

Bachmann uncomfortable over earmarks ban

Republicans appear to have boxed themselves into a corner with their portrayal of earmarks as wasteful spending, as many of them have backed a moratorium on

Troubled mine holds hope for U.S. rare earth industry

China currently controls 97 percent of the world’s rare earth production. The Mountain Pass Mine could change that -- if it can overcome serious environmental concerns.

© Copyright 2021 The Washington Independent All Rights Reserved

Terms & Privacy |

Click here to check the ultimate guide to learn how to leverage your PC and internet to make money online.