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 2^nd Circuit
• S. 940 ^[1] – Close Big Oil Tax Loopholes Act

Senate Committee Action:

• The Senate Foreign Relations ^[2] Committee will hold a hearing on the “Strategic Implications of Pakistan”
• The Senate Energy and Natural Resources ^[3] Committee will hold a hearing on “Oil and Gas Development”
• The Senate Homeland Security and Governmental Affairs ^[4] Subcommittee on Federal Financial Management will hold a hearing on the “Postal Service Financial Crisis”

The House is in recess this week.