Senate resumes consideration of H.R. 3606, the bipartisan House-passed JOBS Act. At 4 PM, the Senate will vote on cloture on a Democrat liberal substitute amendment from Sen. Jack Reed (D-RI) that would weaken the JOBS Act. If cloture is not invoked, the Senate will vote on cloture on an amendment from Sen. Maria Cantwell (D-WA) concerning the Export-Import Bank. If cloture on that amendment is not invoked, the Senate will proceed to a cloture vote on the underlying JOBS Act, H.R. 3606.
The House is expected to take up HR 665 — Excess Federal Building and Property Disposal Act and HR 2087 — Removal of deed restrictions in Accomack County, Virginia.
This morning, Rep Paul Ryan, House Budget Committee Chairman, unveiled a new House budget plan called A Roadmap for America's Future. The House continues to do its prescribed responsibility whereas the U.S. Senate led by Democrats continue to scrap all proposed budgets and to advance Continuing Resolutions. And before Ryan finished his introduction to the proposed plan this morning, the democrats had already marshaled their attack. In a statement Tuesday, White House Communications Director Dan Pfeiffer said the plan "once again fails the test of balance, fairness and shared responsibility."
Business Insider summed up Paul Ryan's budget plan as "Change The Tax Code And Balance The Budget." They add, "Here are the big things: Ryan would redraw personal income taxes into two brackets, 25 percent and 10 percent. The plan doesn't exactly specify yet what income would qualify you for the higher bracket. There would also be a massive drop in corporate taxes from 35 percent to 25 percent. And there would be hardly any tax deductions either.The plan also includes an enormous overhaul to Medicare and Medicaid, cutting benefits for the most wealthy, and introducing competition at the lower levels. Oh, and Ryan's plan includes repealing Obama's health-care reform law too."
Now if you want to see the simplest summary, view the following chart. At the rate things are going America under President Obama and the Democrats, not considering State and local government spending, Federal Government Spending is on the road to consuming the entire wealth of America, the Gross Domestic product. The Ryan plan seeks to stabilize and slightly reverse the trend. A few very relevant charts from the Roadmap:
Last year, Congressional Budget Office Director Doug Elmendorf acknowledged that his office estimates that under President Obama’s health care law, “there would be a reduction of 800,000 workers.” Across the country, companies are being forced to lay off workers, including medical device manufacturer Medtronic, drug maker Abbot Laboratories, artificial joint maker Stryker Corp, medical insurer American Enterprise Group, and orthopedics device maker Zimmer Holdings. An owner of 9 tanning salons in Wisconsin called the new tanning tax imposed by the health care law “a death sentence for many small salons.”
In an op-ed for Politico today, two of the Senate’s doctors, Sens. John Barrasso (R-WY) and Tom Coburn (R-OK) write, “Based on our combined 50 years of practicing medicine, we warned [two years ago] that his health care law would be bad for patients, bad for providers and bad for taxpayers. The law focused on some of the symptoms in our health care system but failed to address the underlying disease. As the Obama administration began implementing its overhaul, we continued examining the data and the conclusions of nonpartisan experts, including the Congressional Budget Office and the Congressional Research Service. We have compiled our findings into a new oversight report about the law’s negative side effects. We found fewer choices, higher taxes, more government and less innovation. . . . We found that American families are paying higher premiums than they did when the law passed. If all this were not enough, the law’s costs continue to soar. Expanding health insurance coverage will cost at least $1.76 trillion over the next 10 years, according to the CBO. That’s double what the president said his entire program would cost. The president and Democrats in Congress made specific promises to sell their health care plan. Over the past two years, the evidence in our report shows they have not kept their word.”
They conclude, “As physicians, we know firsthand that we cannot go back to the system we had before. We believe that we can — and we must — fix what was not working in our health care system. However, an honest solution cannot be built on a failing law. Real reform starts with repealing the health law and then replacing it with solutions that really lower costs, increase coverage, empower patients and reduce government interference. Only then can Congress help Americans receive the care they need, from the doctor of their choice, at a price they can afford.”
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