House of Representatives

Capital Gains and Tax Reform

Yesterday, the House Ways and Means Committee and the Senate Finance Committee held a joint hearing on tax reform and the tax treatment of capital gains. Base broadening tax reform with the payoff of lower rates is one of the key components of both the Simpson-Bowles and Domenici-Rivlin plans. But in order to get the lower rates in a fiscally responsible way, everything must be on the table, and that includes capital gains. 

Concord Coalition Honors the Brave 38

Tonight, the Concord Coalition will present their annual Paul E. Tsongas Patriot Award to the Brave 38—the 22 Democratic and the 16 Republican Congressman that voted for the bipartisan Cooper-LaTourette budget resolution.

Comparing the Ryan Plan to...the Ryan Plan

There has been much discussion over the "Ryan Plan" since the House Budget Chairman was selected by Governor Romney to be his running-mate. However, there is not just one Ryan plan, but multiple iterations of the Congressman's proposals. They have evolved over time on specifics, although the overall approach has remained clear.

Insights About Legislating from Rep. Chaka Fattah

Yesterday, Rep. Chaka Fattah (D-PA) sent a letter to his House colleagues urging them to adopt Simpson-Bowles as a way to stave off the fiscal cliff.

Council on Foreign Relations Primes Readers on the Fiscal Cliff

The Council on Foreign Relations has joined in on those warning of the dangers of the fiscal cliff due to hit early January and unsustainable rising levels of debt. The helpful "backgrounder" piece explains both the domestic, national security, and economic consequences of the cliff as well as some context to how we got to this point.

Bernanke Once Again Warns Congress on the Fiscal Cliff

Federal Reserve Chairman Ben Bernanke addressed Senate Finance Committee on Tuesday and the House Finance Committee yesterday with more warnings about the fiscal cliff at the end of the year.

Parties Discuss Sequester Working Groups

A few members of Congress are now proposing House-Senate working groups to try and negotiate a compromise that would avoid the squester. From The Hill:

Sen. Kelly Ayotte (R-N.H.) said that forming the bipartisan working groups would be a critical piece in getting lawmakers in both chambers on the same page, regarding the automatic defense cuts under sequestration.

How Is the House Replacing the Sequester?

Update: CBO has posted scores for the Energy and Commerce and Oversight bills. They would save $113 billion and $83.3 billion, respectively, over ten years.

Comparing the House and Senate Agriculture Changes

Recently, both the House and Senate proposed cuts to the Department of Agriculture. Though the proposals are fairly similar in magnitude, they achieve their savings in very different ways. With the 2008 Farm Bill expiring in September, it will be interesting to see how these bills will shape the final outcome for that legislation.

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