House Republicans passed a budget on Wednesday after employing the very unusual “Queen of the Hill” rule. The budget that earned the most votes was the one dubbed “Price 2,” which matches the one passed in the House Budget panel last week but includes a $20 billion increase in defense spending.
Once again risk is shifted from a major American company to the American taxpayer via the Export-Import Bank, but this may be the last time.
In order to pass a 2016 budget, Republican leaders have turned to a rarely used rule that would allow lawmakers to vote on multiple proposals, hoping to appease conservatives and the so-called “hawks.” According to GOP leadership, the goal was to pass a budget in the first 100 days of the new Congress, and they are confident that they will do so.
The heat is on as key Republicans help President Obama and Wall Street execs push TPA Fast Track for quick passage of the secret Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) agreements.
Representatives Steve Israel (D-N.Y.) and Eliot Engel (D-N.Y.) are ignoring the groundswell of feelings against new bans on ammunition, even as the head of ATF resigns.
House Speaker John Boehner (R-Ohio) has once again disregarded the conservative arm of the Republican Party and will forge ahead with two items that will increase the federal budget deficit. Boehner intends to drive a defense spending increase and the so-called “doc fix” through the United States House of Representatives over the next week.
Republicans in Congress have released their first budget outline since the GOP took control of Congress in November. The Republican blueprint calls for a number of ambitious moves, including significant changes to Medicare and increases in defense spending, and reiterates the GOP call for a complete repeal of ObamaCare.
Loretta Lynch's handling of the HSBC money-laundering scandal could mean the end of her chances to become the next U.S. Attorney General.
After voting for “Fast Track” for NAFTA and then for NAFTA itself, then-Senator John Kerry professed total surprise when a NAFTA court trampled U.S. state laws and overruled U.S. courts — precisely as this magazine had warned would happen.
Senator Ron Wyden (D-Ore.) the ranking member on the Senate Finance Committee, is getting pressure from both liberals and conservatives to oppose Fast Track, while crony corporate interests step up lobbying for Obama’s trade agenda.
According to the Congressional Budget Office, the U.S. government will reach its borrowing limit in October or November, after exhausting emergency measures to keep the debt below the limit as long as possible. Without the emergency measures, the growing federal debt would hit the ceiling by the middle of this month. But Republicans who had hoped to use the debt ceiling debate as leverage to pass spending cuts were disappointed to learn that Senate Majority Leader Mitch McConnell has already assured the Dems that the GOP would not threaten a default or government shutdown.