This Week in Washington – Thursday, September 30, 2010
Late last evening, the House passed a Continuing Resolution (more on that below) and closed up shop more than a week earlier than scheduled. By leaving Washington early, the Congressional Leadership has missed an opportunity to stop the largest tax increase in American history from taking effect on January 1 when the tax relief packages of 2001 and 2003 are set to expire.
As it currently stands, on that date Americans in every tax bracket will face a $3.9 trillion tax hike. With unemployment at 9.6 percent and nearly 15 million Americans currently looking for jobs, no American should face a tax increase right now.
Congress cannot – and should not attempt – to create the new jobs we need for a full economic recovery. It can, however, set the table for economic growth in the private sector, beginning with the extension of the tax relief packages for all Americans.
There is bi-partisan support for extending the tax relief. In fact, 47 of my colleagues from across the aisle stated their desire to pass the extensions before leaving Washington. Sadly, their voices, along with those of the minority party, were ignored.
As I have said before, small businesses create seven out of every ten new jobs in our economy. They can lead us in our recovery. However, they will not expand and they will not make new hires when they are facing tax increased and harmful new regulations around every corner.
If Congressional Leaders were serious about job creation, they should not have adjourned before addressing this pressing issue. As a result of their doing to, we have missed an excellent opportunity to do the right thing for the economy. But it is not too late. We must act to extend the tax relief packages when Congress returns after Election Day.
This Week
Yesterday, the House approved H.R. 2378, the Currency Reform for Fair Trade Act. The bill provides American businesses the opportunity to petition the U.S. Department of Commerce to consider placing "countervailing duties" against exports from a country that is deliberately undervaluing its currency. In the case of China, these duties help offset the price advantage Chinese exporters gain through manipulation of China's currency, the yuan.
This legislation is aimed directly at the Chinese government for continually undervaluing the yuan against our dollar. American workers and manufacturers can compete with anyone in the world, but only if the playing field is level. Right now, the Chinese are keeping the yuan artificially low so they can flood the U.S. with their cheap goods.
Also on Wednesday, the House approved the final version of H.R. 2701, the Intelligence Authorization Act for Fiscal Year 2010. The bill authorizes intelligence and intelligence-related activities of the U.S. Government and establishes additional intelligence-related offices and programs for Fiscal Year 2010.
I was concerned about this legislation for several reasons. It lacks an outright prohibition on using intelligence funds to bring Guantanamo Bay detainees into the U.S., meaning even as non-citizens they would be afforded certain protections under the Constitution. It also does not prohibit extending Miranda warnings to foreign terrorist suspects in foreign countries. Lastly, the bill would allow for potential Justice Department action against intelligence professionals who followed orders, even if they were to come directly from the President or Congress.
Finally, yesterday the House approved what is known as a Continuing Resolution or "CR." The CR provides continued funding for federal government programs through December 3, 2010, mostly at Fiscal Year 2010 levels. While this legislation will keep the government running beyond Election Day, there are still many issues the Congress should have addressed before closing up shop for election season – not least of which are the tax relief extensions I mentioned earlier.
The House will not be in session next week. Have a nice weekend.
Sincerely,
