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  • Cloakroom: Taxmageddon Edition

    House Cloakroom: July 30 – August 3

    Analysis: This week, the House will take up its bill to avoid Taxmageddon. HR 8 would extend the Bush-era 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.

    Major Floor Action:

    • HR 8 – Job Protection and Recession Prevention Act of 2012

    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’s (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 Rosenzweig 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.

    Posted in Ongoing Priorities [slideshow_deploy]

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