Find out what’s happening inside Washington. Learn about votes being cast, legislation being introduced and deals being struck.
With our national debt approaching nearly $17 trillion, we simply cannot afford for conservatives in both the House and Senate to allow such legislation to saddle American taxpayers with even more spending on subsidies and entitlement programs.
The dynamics of the debate have thus far focused (sub. req’d) on the out-of-control food stamp program, a component which comprises nearly 80% of the bill. Make no mistake, the “farm” bill is really a food stamp bill tied to corporate welfare subsidies.
If it takes one step forward with its strong language on improving border security, it takes two steps back by giving the Secretary of Homeland Security broad and sweeping discretion to waive its border security requirements, Hans von Spakovsky explains.
The bill appears to have strong language setting forth strict rules and requirements for border security. But perception is not reality because it also gives the “secretary of homeland security pretty much carte blanche to waive the vast majority of the requirements detailed in the bill.”
Don’t believe von Spakovsky?
Institutions such as the National Immigration and Customs Enforcement Council of the American Federation of Government Employees and the United States Citizen and Immigration Service Council expressed serious concerns with the bill on May 9 and May 20, respectively. They fear the “virtually unlimited discretion” the bill gives to DHS and they sent a letter to Congress letting lawmakers know.
The Smarter Solutions for Students Act (H.R. 1911) would replace the 6.8% rate with one pegged to high-yield 10-year Treasury notes plus 2.5%. In 2013 and 2014, that is expected to be only 4.4% and 5.0% respectively (increasing the cost to taxpayers in the first few years). If interest rates rise as projected, the loan rate will increase up to a cap of 8.5%. However, if rates stay low, students would receive the subsidy at the expense of taxpayers.
Analysis: This week the House will take up the approval of the Keystone XL pipeline and student loan rate reform. The Northern Route Approval Act does just what its name suggests, approve the Keystone pipeline. This pipeline will be source of jobs and energy for Americans and approval is currently being held up by the Obama administration. The Smarter Solutions for Students Act reforms the way the government charges interest on student loans. The current rate of 3.4% is going back up to 6.8% this summer. Instead of Congress picking an interest rate this reform would tie the interest rate to the Treasury rate plus 2.5% making it a variable rate.
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Senate Cloakroom: May 20 – May 24
Analysis: This week the Senate will consider S. 954. This nearly $1 trillion bill has initial 10 year cost estimates of $955 billion dollars—80% of which is in food stamps. The bill would lock in new entitlement programs with shallow loss crop insurance (ARC) and target price supports (AMP).
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Analysis: This week the House of Representatives will reaffirm their commitment to repealing Obamacare in its entirety. Obamacare has already restricted hiring, seen one of its coverage provisions fail, and is expanding an ineffective Medicaid program This law has even drawn criticism from prominent Democrats. Sen. Chuck Schumer (D-NY) has admitted Obamacare will actually increase health care costs, the opposite of what the bill was intended to do. Sen. Max Baucus (D-MT) foresees a “train wreck coming” as this bill is implemented. This terrible law must be repealed.