Cloakroom: Taxmageddon Edition

House Cloakroom: July 30 – August 3

Analysis: This week the House will take up their bill to avoid Taxmageddon.  HR 8 would extend the Bush rates for a year and provide for a fast track process to consider tax reform next year.  The fiscal cliff represents a real threat to our economy.  Find more on the tax increase it will impose on your family here.  The House will also consider a one year extension of the current farm bill that include emergency drought assistance for farmers.

Major Floor Action: 

  • HR 8 – Job Protection and Recession Prevention Act of 2012
  • HR_ – To provide a one-year extension of the Food, Conservation, and Energy act of 2008, with certain modifications and exceptions, to make supplemental agricultural disaster assistance available for fiscal years 2012 and 2013, and for other purposes.

Major Committee Action:

  • The House Armed Services Committee will hold a hearing on the “Impact of Sequestration on Defense.”
  • The House Small Business Committee will hold a hearing on the “Impact of CFPB in Small Business.”
  • The House Oversight and Government Reform Committee will hold a hearing on the “Tax Aspects of Affordable Care Act Enforcement.”
  • The House Transportation and Infrastructure Committee will hold a hearing on the “Review of Amtrak Operations.”
  • The House Energy and Commerce Subcommittee on Energy and Power will hold a hearing on “Clean Air Act Implementation.”

 

Senate Cloakroom: July 30 – August 3

Analysis:  This week the Senate will begin by considering a Circuit court nomination despite Minority Leader Mitch McConnell (R-KY) invoking the Thurmond Rule.  The Thurmond Rule, which is also known as the Leahy Rule because of past support by Senate Judiciary Committee Chairman Patrick Leahy (D-VT), is a Senate tradition that the chamber stops allowing judges through within six months of a presidential election.  Heritage’s Brian Darling has a more in depth explanation here.  After voting on the judge the Senate will return to consideration of the Cybersecurity bill.  This bill differs from the House passed version in that it contains an onerous regulatory scheme.  Heritage’s Paul Rosensweig has policy analysis here.

Major Floor Action:

  • Nomination of Rovert E. Bacharach, of Oklahoma, to be a United States Circuit Judge for the Tenth Circuit
  • S 3414 – CSA2012 (Cybersecurity Bill)

Major Committee Action: 

After this week Congress will leave for the August recess.  Congress and the Cloakroom will return in September.

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