Senate Analysis:
After 7 weeks of working on the Small Business bill, Senator Reid is finally moving on to other items – like taxing oil companies via the Close Big Oil Tax Loopholes Act (S. 940). This is a clear attempt on the part of the Democrats to punish oil companies, even though they know that taxing them won’t lower gas prices one penny.
Senate Floor Action:
- Vote on nominee Susan Carney to be U.S. Circuit Judge for the 2nd Circuit
- S. 940 – Close Big Oil Tax Loopholes Act
Senate Committee Action:
- The Senate Foreign Relations Committee will hold a hearing on the “Strategic Implications of Pakistan”
- The Senate Energy and Natural Resources Committee will hold a hearing on “Oil and Gas Development”
- The Senate Homeland Security and Governmental Affairs Subcommittee on Federal Financial Management will hold a hearing on the “Postal Service Financial Crisis”
The House is in recess this week.
Memo to America: Stop waiting for Democrats and Republicans to save you.
"WAKE UP!” – JOIN THE REVOLUTION
Read “Common Sense 3.1” at ( http://www.revolution2.osixs.org )
We don’t have to live like this anymore. "Spread the News"
Yes lets close all tax loopholes and lower taxes at the same time. A flat tax and no deductions for anyone. Everyone pays 10% of gross income. We can reduce the IRS and private companies will need less accountants. Lets make the Tax Code simple. Allowing loopholes and special deductions for companies is asking for corruption in government. Why not? Why waste money on "paper work" that doesnt produce any wealth?Accountants will still be needed for keeping track of expense of production. This will reduce the number of Lobbist in Washington and make govenment stick to its real functions.