CONGRESS: the Republican led House – the Senate proceeds to S.2237,Small biz Jobs/Tax Act


  • Convenes: 9:30amET July 11, 2012
  • Following the prayer and pledge, the Senate will resume consideration of the motion to proceed to S.2237, the Small Business Jobs and Tax Relief Act, post-cloture.
  • The first hour will be equally divided and controlled between the two Leaders or their designees with the Republicans controlling the first half and the Majority controlling the final half.
  • We hope to begin consideration of S.2237 during Wednesday’s session. By unanimous consent, all time during morning business, adjournment and recess will count post-cloture on the motion to proceed to the bill.

All post-cloture debate time has been yielded back and the Senate adopted the motion to proceed to S.2237, the Small Business Jobs bill. Senator Reid offered the Reid for Landrieu amendment #2521 (substitute) and Reid amendment #2524 (text of H.R.9, Cantor bill), filled the so-called amendment tree, filed cloture on the new Landrieu substitute amendment and the underlying bill, and then moved to proceed to S.3364, a Stabenow bill to provide an incentive for businesses to bring jobs back to America.

He then asked consent to vitiate the cloture motions and that at 2:00pm tomorrow the Senate proceed to vote in relation to the Cantor language, the new substitute, and the underlying bill, as amended, if amended; Further, that the Senate proceed to a free standing bill to extend the 2001, 2003, and 2009 tax cuts for 98% of Americans and 96% of all small businesses as outlined by President Obama, that the only amendment in order be an amendment offered by Senator McConnell or designee, which is identical to the text of Hatch amendment #2491 (tax extension); and that upon the use or yielding back of 4 hours of debate, the Senate proceed to vote in relation to the McConnell amendment and on passage of the underlying bill, as amended, if amended.

Senator McConnell objected to the request.

Text of the unanimous consent request, brief summaries of the Cantor bill and the new substitute amendment, and the unofficial transcript of the Reid-McConnell exchange can be found below.

Unanimous Consent Request (McConnell objected)

Reid:   I ask unanimous consent that cloture be vitiated with respect to the substitute amendment and S.2237; that the motion to commit be withdrawn and amendment #s 2525 and 2522 be withdrawn; that at 2:00pm, Thursday, July 12th, the Senate proceed to votes in relation to the following amendments:

Amendment #2524 (Cantor language);

– Reid for Landrieu Substitute amendment #2521;

That there be no other amendments or motions in order to the amendments or the bill prior to the votes other than motions to waive or motions to table; that upon disposition of the two amendments, the Senate proceed to a vote on passage of S.2237, as amended, if amended.

Further, that at a time to be determined by the Majority Leader, after consultation with the Republican Leader, the Senate proceed to the consideration of a bill to be introduced by Senator Reid, or designee, extending the 2001, 2003 and 2009 tax cuts for 98% of Americans and 96% of all small businesses as outlined by President Obama; that the only amendment in order to the bill be an amendment offered by Senator McConnell, or designee, which is identical to the text of amendment #2491, as filed by Senator Hatch, that the amendment not be divisible; that there be 4 hours of debate on the amendment and the bill equally divided between the two Leaders, or their designees, prior to a vote in relation to the McConnell, or designee, amendment; that upon disposition of the amendment, the Senate proceed to vote on passage of the bill, as amended, if amended; that there be no motions or points of order to the amendment or the bill.

Amendment summaries

The Reid amendment #2524, (text of H.R.9) creates a temporary 20% deduction from taxable income for businesses with fewer than 500 employees.  Cost = $46 billion over ten years.

The Reid for Landrieu substitute amendment #2521:.

Landrieu (tax only):  extends five tax benefits for small businesses (Cost = $4.4 billion over ten years):

  • 0% capital gains tax for certain small business stock
  • Expanded carryback of credits to recover prior taxes
  • Relief for corporations switching to Subchapter S corporations
  • Expanded expensing for certain capital investments
  • Higher deductions for start-up costs

In addition to several bipartisan measures aimed at strengthening the SBA, improving small business export promotion, and increasing transparency and oversight, Senator Landrieu’s amendment achieves the following:

Capital

  • Small Business Investment Company Program – Expands the SBIC program authority from $3 billion to $4 billion and raises the amount funds under common control can borrow from $225 to $350.
  • 504 Refinancing – Extends for one year the SBA’s authority to refinance short-term commercial real estate debt into long-term fixed rate loans.

Contracting

  • Permanently increases the SBA surety bond guarantee from $2 million $5 million
  • Creates parity in contracting by eliminating the caps on contracts awarded under the SBA’s women-owned business program and allows contracting officers to award sole source contracts to women-owned businesses.
  • Provides additional tools for the SBA Inspector General to combat contracting fraud, a measure previously passed by Unanimous Consent in the Senate.

Counseling

  • Reauthorizes the Small Business Development Center program at level funding through FY15.
  • Reauthorizes the Women’s Business Center program through FY15.

As a result of Senator Reid filing cloture on the Reid for Landrieu amendment #2251 (substitute) and S.2237, Small Business Jobs, the filing deadline for first degree amendments to the substitute and underlying bill is 1:00pm tomorrow, Thursday, July 12.

Unless an agreement can be reached, the cloture vote would occur 1 hour after the Senate convenes on Friday, July 13.

WRAP UP

No ROLL CALL VOTES

LEGISLATIVE ITEMS

Passed H.R.3001, To award a Congressional Gold Medal to Raoul Wallenberg, in recognition of his achievements and heroic actions during the Holocaust.

Passed H.R.4155, the Veterans Skills to Jobs Act.

Completed the Rule 14 proceed of S.3369, the DISCLOSE Act of 2012. (Whitehouse and others)

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The next meeting is scheduled for 10:00 a.m. on July 11, 2012.

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Must See Whitehouse vids …


Ask An Expert: How Will This Impact Local Economies?

Shaun Donovan, United States Secretary for Housing and Urban Development, answers your questions on President Obama’s homeowner refinancing proposal that aims to make it simpler for millions of homeowners around the country to refinance their mortgages and save hundreds of dollars each month.

http://www.whitehouse.gov/refi

 

Announcing the 2012 SAVE Award

President Obama believes the best ideas usually come from the front lines. That’s why in 2009 he launched the SAVE Award (Securing Americans Value and Efficiency), seeking ideas from Federal employees to make government more effective and efficient and ensure taxpayer dollars are spent wisely. Over the past three years, Federal employees have submitted more than 75,000 cost-cutting ideas through the SAVE Award. Dozens of the most promising ideas have been included in the President’s Budget, specifically in the Cuts, Consolidations, and Savings volume.

Between now and July 24th 2012 federal employees can participate in the 2012 SAVE Award by going to :

http://www.whitehouse.gov/save-awardMore

Jay Inslee for Governor – of Washington State


on Jul  8, 2012 by    

Keep Jay’s first ad on the air: http://JayInslee.com/on-the-air. Jay Inslee’s first ad tells Jay’s Washington story and introduces his plans to build a working Washington.

Category:

The greatest number of comments ever received


We recently joined our allies in the climate movement to drop off more than 2.1 million statements in support of the first-ever limit on carbon pollution in the United States.

Millions of people like you sent a clear message: We know climate change is happening. And it’s time for our leaders to do something about it — now.

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Donate $5 today to help The Climate Reality Project fight for even stronger limits on dangerous, climate-altering pollution.

We joined forces with allies from across the country to deliver more than 2.1 million statements of support for the EPA‘s historic limits on carbon pollution. As Assistant Administrator Gina McCarthy told us, “You say 2 million casually, but that’s a lot of people.”

2.1 million is the greatest number of comments ever received for an environmental regulation in history. 2.1 million comments filled more than 50 boxes on the steps of the EPA. To give you some perspective, 2.1 million people couldn’t fit in all of the sports stadiums in the United States.

But you and I both know we need to keep the pressure on the fossil fuel industry and the well-funded interests that deny the reality of climate change.

I’m writing this from my home state, Colorado — where right now, there are nearly unimaginable forest fires we can see right out the window. A winter with little snow, record-high temperatures and a prolonged drought have combined to fuel some of the largest fires in the state’s history.

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Thanks for all you do,

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Congress: the Republican led House – the Senate considers S.2237,small Business Jobs&Tax Relief Act


the Senate Convenes: 10:00amET July 10, 2012

  • Following the prayer and the pledge, the Majority Leader will be recognized.
  • The first hour will be equally divided and controlled between the two Leaders or their designees with the Majority controlling the first half and the Republicans controlling the final half.
  • At 11:30am, the Senate will proceed to Executive Session to consider Executive Calendar #661, the nomination of John Thomas Fowlkes, of TN, to be United States District Judge for the Western District of Tennessee with 30 minutes of debate equally divided and controlled between Senators Leahy and Grassley or their designees.  Upon the use or yielding back of time (at approximately 12:00pm), there will be a roll call vote on confirmation of the Fowlkes nomination.
  • The Senate will recess from 12:30pm until 2:15pm to allow for the weekly caucus meetings.
  • At 2:15pm, there will be 10 minutes of debate equally divided and controlled between the two Leaders or their designees.  At 2:25pm, there will be a cloture vote on the motion to proceed to S.2237, the Small Business Jobs and Tax Relief Act.  As a reminder, cloture was filed on the motion to proceed to Legislative Calendar #341, S.2237, the Small Business Jobs and Tax Relief Act on Thursday, June 29th 

12:00 noon The Senate began a roll call vote on confirmation of Executive Calendar #661, the nomination of John Thomas Fowlkes, of TN, to be United States District Judge for the Western District of Tennessee; Confirmed: 94-2

At 2:25pm, there will be a cloture vote on the motion to proceed to S.2237, the Small Business Jobs and Tax Relief Act.

2:28pm The Senate began a roll call vote on the motion to invoke cloture on the motion to proceed to S.2237, the Small Business Jobs and Tax Relief Act; Invoked: 80-14

WRAP UP

No ROLL CALL VOTES

LEGISLATIVE ITEMS

Passed S.1379, the D.C. Courts and Public Defender Service Act of 2011 with committee-reported amendment by voice vote.

Began the Rule 14 process of S.3364, the Bring Jobs Home Act. (Stabenow and others)

Completed Rule 14 process of H.R.4018, Public Safety Officers’ Benefits Improvements Act of 2012.  (Democratic request)

No EXECUTIVE ITEMS

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