US Chamber Tom Donohue: Better Regulations Can Promote Jobs and Good Government. Santa Barbara (CA) Noozhawk Santa Barbara (CA) Noozhawk publishes U.S. Chamber of Commerce President Tom Donohue’s Examiner commentary, in which he writes that “one of the best government reform efforts would be to modernize our regulatory system,” arguing that it “is increasingly opaque and driven by political agendas, lacks basic accountability, often employs flawed data and questionable science, ignores congressional intent, and too often prevents citizens from effectively weighing in on proposed rules.” Donohue notes that the U.S. Chamber of Commerce supports “regulatory reform that adheres to four commonsense, bipartisan principles,” accountability, transparency, allowing “meaningful participation by stakeholders and citizens,” and a “safe but swift” permitting process. Donohue adds that regulatory reform “will remain a top priority for the Chamber in 2015.” --- Reid, in Diminished Role, Vows Fight With G.O.P. The New York Times The New York Times reports that “After losing nine seats in the election, handing control of the Senate to the other party and facing a minor revolt from inside your own caucus, many majority leaders would probably feel a bit chastened. Not Harry Reid. His somewhat belligerent tone contrasts with that of Senator Mitch McConnell, Republican of Kentucky and the incoming majority leader, who has pledged to be more conciliatory and cooperative with Mr. Reid and his 46 Democrats.” --- Congress reaches spending deal to avoid shutdown. CNN CNN reports that “Negotiators on House and Senate spending panels agreed to $1.1 trillion government funding bill, they announced Tuesday, just two days before federal agencies are due to run out of money. As part of the spending bill Democrats and Republicans have also agreed to attach policy provisions on a range of issues -- including measures to roll back environmental regulations, rules for possession of marijuana in the District of Columbia, and changes to financial regulations for banks.” --- Expected Tax Breaks Dont Go Far Enough for Some Small Firms. The Wall Street Journal The Wall Street Journal reports that some small business owners are pleased that a tax break for spending on R&D and equipment was extended retroactively by the lame-duck Congress, but concerned that the extension only applies to 2014. The provision allows businesses to write off purchases of up to $500,000 in the same tax year, instead of the standard cap of deductions of only $25,000. Matt Turkstra of the NFIB says that the higher expensive provision is the most important item in the tax extender package for small business. --- Top lobbying victories of 14. The Hill The Hill reports that “a legislatively lackluster year forced Washington’s influence industry to fight its battles on all fronts in 2014, as lobbyists grappled with congressional gridlock, and increasingly turned their attention to the executive branch.” The piece notes that the U.S. Chamber of Commerce “lobbied heavily for the changes to the healthcare law” and “helped the U.S. Export-Import Bank (Ex-Im) overcome perhaps its toughest opposition in its 80-year history.” --- Congress could enact rollback of Dodd-Frank limits on derivatives. The Los Angeles Times The Los Angeles Times reports that “Congress is poised to enact the first significant rollback of” the 2010 Dodd-Frank Wall St reform bill “by including in a government spending bill a provision that eases bank trading of complex derivatives.” According to the Times, “Financial reform supporters were outraged...that the provision easing derivatives restrictions, based on legislation that passed the House in 2013 but never got a Senate vote, was included in the spending bill.” Dennis Kelleher, chief executive of Better Markets Inc., is quoted as saying, “This is by far the largest repeal of a significant financial reform provision since the crash.” --- House approves $1.1T bill to fund government despite Dem uprising The Hill The Hill reports The House on Thursday approved a $1.1 trillion bill funding most of the government through September despite an outcry from Democrats and significant defections in both parties. By a vote of 219-206, the House sent the bill to the Senate, where a similar debate may break out between liberal Democrats and the White House. --- Economists See Stronger Growth in 2015 The Wall Street Journal The Wall Street Journal reports The U.S. economy is poised for stronger growth in 2015 thanks to falling gas prices, a tighter job market and expectations of larger wage gains, according to the latest Wall Street Journal survey of economists. But similar enthusiasm a year ago, about 2014, wasn’t matched by reality. --- A Rare Bipartisan Success for Congress The Wall Street Journal The Wall Street Journal reports that “This year’s Congress, best known for polarization and gridlock, ended with a rare bipartisan coalition staggering across the finish line, setting up a test of whether a political center could be sustained on other issues next year. The Senate passed a $1.1 trillion spending bill late Saturday night by a 56-40 vote that crisscrossed party lines, reflecting a desire by both parties to keep the government open and end Congress’s tormented year. It also pointed to some broader political dynamics that could outlast the lame-duck session. The House had approved the spending bill two days earlier.” --- NLRB issues rule to speed up union organizing The Associated Press The AP reported that the National Labor Relations Board issued a new rule Friday that “will shorten the time between when” a union “election is ordered and the election is held, eliminating a previous 25-day waiting period,” in addition to seeking “to reduce litigation that can be used to stall elections” and requiring “employers to furnish union organizers with email addresses and phone numbers of workers.” The AP notes that the U.S. Chamber of Commerce has warned that the new rule will “hamstring employers facing organizing drives and give unions the upper hand.” --- Keystone XL groups wait on Nebraska court The Washington Examiner The Washington Examiner reports that the Nebraska Supreme Court “is expected to decide soon” on whether or not “the state legislature could approve a new route for the controversial oil pipeline,” which would force TransCanada to “resubmit its plan to the Nebraska Public Service Commission.” U.S. Chamber of Commerce Institute for 21st Century Energy Vice President Matt Koch said “he expected TransCanada to follow through with the full review if the court sides against the pipeline law,” adding that he “would be very shocked if they pulled out of the project.” --- Tax extenders expected to win U.S. Senate approval within days. Reuters Reuters reports that the Senate is expected to renew a series of 55 tax breaks this week, known as tax extenders. The House passed legislation extending them through the end of this year on December 3. Most of the extenders, which cover a variety of issues and industries, expired at the end of 2013, and will be reinstated retroactively. However, because they will expire at the end of this year under the House plan, Congress will have to reconsider them next year.
Posted on: Tue, 06 Jan 2015 19:50:39 +0000
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