Cloakroom: Gimmick Watch

House Cloakroom: April 16 – April 20

Analysis: The House will return from their two week recess on Monday and take up Majority Leader Eric Cantor’s (R-VA) plan to reduce taxes on small businesses.  The bill will provide small businesses with a one year 20% tax cut.  Additionally, work will begin in earnest on the budget reconciliation packages from several House committees. These bills will provide for changes in the spending programs themselves that will produce the savings for which the Ryan budget calls.  The House Financial Services Committee will be one of the first to consider their package of reforms. 

Major Floor Action:

  • HR 9 – Small Business Tax Cut Act 

Major Committee Action: 

  • The House Ways and Means Committee will hold a hearing on “Changes to Retirement Savings Plans” with Heritage’s David John as a witness.
  • The House Education and Workforce Committee will hold a hearing on the Workforce Investment Improvement Act.
  • The House Budget Committee will hold a hearing on “Safety Net Programs.”
  • The House Financial Services Committee will hold a markup of their budget reconciliation package and section 8 housing bills.
  • The House Armed Services Committee will hold a hearing on the “Security Situation inSyria.”
  • The House Science, Space and Technology Committee will hold a hearing on “Oil Resources and Job Creation.”

Senate Cloakroom: April 16 – April 20

Analysis:  The Senate is going to kick off their return from Easter recess with a politicized show vote on a shameless budget gimmick.  Majority Leader Harry Reid (R-NV) has called for a vote on the popularly named Buffet Rule which is nothing for that an attempt at achieving what President Obama perceives as “fairness” in the tax code.  In reality, not only is the impact of this on the deficit embarrassingly small, but the economic impact of effectively raising capital gains taxes is decidedly negative.  The Senate will likely move on from there to a similarly unserious attempt to reform the postal service through a bailout. 

Major Floor Action: 

  • S 2230 – Buffet Rule (Paying a Fair Share Act) 

Major Committee Action: 

  • The Senate Environment and Public Works Committee will hold a hearing on “GSA Mismanagement Inspector General Report.”
  • The Senate Indian Affairs Committee will hold a hearing on “Indian Tribal Energy Development.”
  • The Senate Commerce, Science and Transportation Subcommittee on Comepetitiveness, Innovation, and Export Promotion will hold a hearing on “Promoting American Competitiveness.”
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