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House Leaders Schedule Final Vote on Debt Limit Hike, PAYGO Rules
(Jan. 31, 2010)
The House this week will vote on whether to send President
Obama a $1.9 trillion increase in the federal debt limit along
with statutory pay-as-you-go (PAYGO) language requiring
Congress to fully offset the cost of new tax cuts or spending
increases for "mandatory" programs such as Medicare and Social
Security. The Senate approved the debt limit and PAYGO
provisions on Thursday as a substitute amendment to the
House-passed proposal to raise the ceiling by $635 billion. |
Hoyer: Job Creation, Fiscal Restraint Top House's Legislative Agenda for
2010
(Jan. 26, 2010)
Enacting a jobs bill and budget reform legislation will top
House Democratic leaders' legislative agenda during the
second session of the 111th Congress. "It is crucial to get a
jobs bill to the president’s desk as soon as possible,"
House Majority Leader Steny Hoyer (D-MD) said Tuesday
during a speech to the National Press Club. He added that
Democrats aim to send the White House a "strong" pay-as-you-go
(PAYGO) measure requiring
any new entitlement spending or tax cuts to be fully offset by
other spending reductions or revenue increases so the deficit
does not go up.
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This Week in Congress
(Jan. 24, 2010)
The Senate this
week continues debate on a measure that would raise the public
debt limit by $1.9 trillion to $14.29 trillion, a hike that
could provide the Treasury Department with enough borrowing
authority to last through 2010. Senate Majority Leader Harry
Reid (D-NV) offered the $1.9 trillion increase as a substitute
amendment to the House-passed proposal to raise the ceiling to
$13.029 trillion -- a $635 billion increase over the current
debt limit -- that likely would force lawmakers to revisit the
politically unpopular issue before the November elections. |
Congress Moving Swiftly on Accelerated Tax Break for Haiti Relief
Contributions
(Jan. 21, 2010)
House and Senate lawmakers are moving swiftly on legislation
that would allow Americans who donate cash for earthquake
relief efforts in Haiti to record these contributions as
charitable deductions for the 2009 tax year. The window to
qualify for the accelerated tax break is Jan. 11 to Mar. 1,
2010. Those who text message their donation can use their
phone bill as proof to the IRS of the donation.
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© Copyright Capitol Hill Reports,
Inc. (2010). No claim to original government works. |
