|MONDAY, FEBRUARY 1, 2010|
THE WEEK AHEAD
The SENATE scheduled to meet today for morning business and to consider the nomination of M. Patricia Smith to be the Labor Department’s solicitor.
The HOUSE is not in session today, but is expected later in the week to consider a measure that would boost cyber security research and legislation to raise the federal government’s debt ceiling to $14.3 trillion. The debt limit legislation will include a "pay-go" budget provision, requiring spending and tax cuts to be offset. The Senate passed the legislation last week by a vote of 60-40. Congress must act on the debt limit by mid-February, when the current $12.394 trillion limit is expected to be hit.
The President’s budget proposal for fiscal year 2011 was released
this morning. The $3.83 trillion budget projects a deficit of
$1.56 trillion for the upcoming fiscal year while making investments to
create jobs, encourage retirement savings, and reform education.
The budget also calls for a freeze on discretionary,
non-security-related spending, and the creation of a commission to
address the deficit and national debt.
The President’s budget proposal for fiscal year 2011 was released this morning. The $3.83 trillion budget projects a deficit of $1.56 trillion for the upcoming fiscal year while making investments to create jobs, encourage retirement savings, and reform education. The budget also calls for a freeze on discretionary, non-security-related spending, and the creation of a commission to address the deficit and national debt.
KEY HEARINGS & MARKUPS
:The Commerce, Justice, Science, and Related Agencies Subcommittee of the House Appropriations Committee will hold a hearing on science, technology, engineering and math education.
COMMERCE, SCIENCE, AND TRANSPORTATION :
:The Senate Commerce, Science and Transportation Committee will hold a hearing titled “Financial Services and Products: The Role of the Federal Trade Commission in Protecting Consumers”
EDUCATION AND LABOR: The House Education and
Labor Committee will hold a hearing on the Obama administration’s labor
agenda, efforts made of the past year at the Labor Department, and the
department’s plans to strengthen the economy.
:The Senate Finance Committee will hold a hearing on the President’s health care proposals.
JUDICIARY: The Commercial and Administrative
Law Subcommittee of the House Judiciary Committee will hold a hearing
titled “State Taxation: The Role of Congress in Defining Nexus”
SCIENCE AND TECHNOLOGY :
:The Research and Science Education Subcommittee of the House Science and Technology Committee will hold a hearing on strengthening undergraduate and graduate programs in science, technology, engineering and math.
TRANSPORTATION AND INFRASTRUCTURE :
:The Economic Development, Public Buildings and Emergency Management Subcommittee of the House Transportation and Infrastructure Committee will hold a hearing titled “FEMA’s Urban Search and Rescue Program in Haiti: How to Apply Lessons Learned at Home”
VETERANS AFFAIRS: The Disability Assistance
and Memorial Affairs Subcommittee of the House Veterans’ Affairs
Committee will hold an oversight hearing titled “Implementation and
Status Update on the Veterans’ Benefits Improvement Act (PL 110-389)”
YUCCA NEWS: BLUE RIBBON COMMISSION NAMED; PROJECT ZERO-FUNDED IN FY11 OBAMA BUDGET; ADMINISTRATION PROMISES WITHDRAW LICENSE APPLICATION BY EARLY MARCH
The Obama Administration's FY11 budget codifies both the president’s promise to close the Yucca Mountain facility, and his intent to include nuclear energy in the nation’s long-term energy mix; however, to some in the nuclear industry, those pledges are viewed as incongruous.
The budget, if adopted by Congress, would zero out the last remaining funding for development of the Yucca Mountain waste repository. At the same time, the budget includes $54.5 billion in fiscal 2011 for loan guarantees for new nuclear power generation, representing a sizable increase of $36 billion.
The budget also discusses the establishment of a commission to study alternative sites and methods for nuclear waste disposal; the commission was announced late last week by Energy Secretary Steven Chu. The Commission will be co-chaired by former Congressman Lee Hamilton and former National Security Advisor Brent Scowcroft.
JOBS BILL STRATEGY UNCLEAR DESPITE PRESIDENT'S STATE OF THE UNION CALL
The prospect of a "Jobs Bill" received a lot of attention in the President’s State of the Union address last Wednesday, in which he indicated his support for a bill that would: direct $30 billion to community banks to stimulate lending among small businesses, enact a series of tax credits that would encourage small businesses to hire, and eliminate the capital gains taxes on small business investments.
While the House has already passed a bill, the Senate’s strategy is expected to be made clearer this week. It appears the Senate will favor a strategy of advancing multiple pieces of legislation; they will reportedly categorize bill items as having a short-term or long-term impact.
The jobs package that Senators Dorgan and Durbin have been drafting could now be broken up and moved in pieces. Originally, that bill was expected to have a price tag of around $85 billion ($75 billion of that would pull from TARP funding authority and used as an offset) and to consist of four core elements: small business job creation, infrastructure, clean energy, and financial aid to the states.
CONGRESSIONAL LEADERS MULL DEBT COMMISSION
During his State of the Union Address, the President also touted the need for a clean energy and climate bill. He framed the issues as crucial parts of the ongoing investment in American innovation and job creation, signalling his willingness to support nuclear power plants and offshore oil and gas production.
The President acknowledged the difficulty of pursuing a climate
bill in this tough economy, but insisted that pursuing clean energy and
greater efficiency remained good investments for the United States. It
is important to note, however, that the phrase “cap and trade”
has been dropped from Administration talking points on the measure.
Grant notices published in last week's Federal Register are now available by visiting our website.
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