It’s official: Texas Congressman Ron Paul will be the Chairman of the House Subcommittee for Domestic Monetary Policy and Technology when the 112th Congress convenes in January. Rep. Spencer Bachus of Alabama, who is slated to be the Chairman of the House Financial Services Committee, of which the Monetary Policy Subcommittee is a part, announced Paul’s appointment as chairman of that subcommittee on December 9.
Days after President Obama announced an alleged compromise between the White House and Republicans on the Bush era tax cuts, Senate Majority Leader Harry Reid told reporters that the Senate is still in the process of working out the final details of the bill, but should be voting on the final package shortly. In fact, Senate floor debates on the tax cut deal may begin as early as today. (House Democrats, in a voice vote in a closed caucus meeting on December 9, rejected President Barack Obama's tax deal with Republicans in its current form, but it was unclear how much the package might need to be changed to secure approval, after which the bill would be sent to the Senate.)
The lame duck session of the 111th Congress is determined to make a reputation for itself as it continues to pass unpopular legislation for self-satisfactory purposes. The latest installment is the DREAM Act, which was passed by the U.S. House of Representative on Wednesday evening by a vote of 216-198.