After unveiling of the House Budget Committee’s proposal for 2013, this week the House finished consideration of the budget. However, that’s not the only thing going on in Congress. Here’s a quick update on some of the major business before the House.
Transportation
The transportation reauthorization, which uses funds collected by the gasoline tax, authorized federal transportation programs through March 31, 2012. Due to delays, the long-term reauthorization has not been completed. Therefore, this week we voted on a short-term extension which would keep these transit projects funded until a full authorization can be made. Although this extension would allow Congress time to implement full authorization, it may complicate the budgets of transportation programs which will not be able to expect funds more than a few months at a time. However the Committee on Transportation and Infrastructure proceeds, Congress must not let the authorization lapse or jeopardize these transportation programs.
While I do not think that these short term extensions are the way Congress should govern, a lapse in funding in these programs would produce consequences for these industries. I am looking forward to more productive discussion that will help us meet our long-term goals.
JOBS Act
A few weeks ago, I optimistically shared with you that the House had passed the Jumpstart Our Business Startups (JOBS) Act. Today I am happy to report that the Senate quickly passed the JOBS Act, sending it back to the House with an amendment. The House on Tuesday passed the amended JOBS Act, so it is now ready for the President’s signature. What a great instance of the positive work Congress can do when we work together! I now hope that we can keep the momentum and stay focused on job creation with bipartisan solutions. That is why I have authored legislation to make permanent one of the tax exclusions originally found in President Obama’s 2010 tax bill. This exclusion applies to income from small business stock held for more than five years, incentivizing investment in small companies that need capital to grow.
Budget
Yesterday the House considered and voted on a budget for 2013. This is something that the House has done each year under current Leadership, while the Senate has failed to pass a budget in over three years. The House voted on the President’s budget - which increases spending, taxes, and government - but it failed in the House by a vote of 0-414. Not a single Member of Congress voted for the President's budget.
On the contrary, the Budget Committee’s Path to Prosperity authored by Chairman Paul Ryan would reduce spending by $5 trillion compared to the President’s budget; reform taxes by closing loopholes the rich and well-connected take advantage of while lowering the tax rate for everyone; and strengthen our safety nets so that Medicare is intact when you retire – whether you are 65 or 35 or 5.
Healthcare
Although not in Congress, just across the street the Supreme Court heard oral arguments on the constitutionality of the President’s health care law. While a decision is not expected until June, the arguments may play a crucial role in the Justices’ final opinion. You can hear the oral arguments or read the transcripts on the Supreme Court’s website (the arguments are dated March 26-28).
I hope this update is helpful to you and that you will keep in touch with me on the issues important to you.
Sincerely,
Daniel E. Lungren
Member of Congress
Transportation
The transportation reauthorization, which uses funds collected by the gasoline tax, authorized federal transportation programs through March 31, 2012. Due to delays, the long-term reauthorization has not been completed. Therefore, this week we voted on a short-term extension which would keep these transit projects funded until a full authorization can be made. Although this extension would allow Congress time to implement full authorization, it may complicate the budgets of transportation programs which will not be able to expect funds more than a few months at a time. However the Committee on Transportation and Infrastructure proceeds, Congress must not let the authorization lapse or jeopardize these transportation programs.
While I do not think that these short term extensions are the way Congress should govern, a lapse in funding in these programs would produce consequences for these industries. I am looking forward to more productive discussion that will help us meet our long-term goals.
JOBS Act
A few weeks ago, I optimistically shared with you that the House had passed the Jumpstart Our Business Startups (JOBS) Act. Today I am happy to report that the Senate quickly passed the JOBS Act, sending it back to the House with an amendment. The House on Tuesday passed the amended JOBS Act, so it is now ready for the President’s signature. What a great instance of the positive work Congress can do when we work together! I now hope that we can keep the momentum and stay focused on job creation with bipartisan solutions. That is why I have authored legislation to make permanent one of the tax exclusions originally found in President Obama’s 2010 tax bill. This exclusion applies to income from small business stock held for more than five years, incentivizing investment in small companies that need capital to grow.
Budget
Yesterday the House considered and voted on a budget for 2013. This is something that the House has done each year under current Leadership, while the Senate has failed to pass a budget in over three years. The House voted on the President’s budget - which increases spending, taxes, and government - but it failed in the House by a vote of 0-414. Not a single Member of Congress voted for the President's budget.
On the contrary, the Budget Committee’s Path to Prosperity authored by Chairman Paul Ryan would reduce spending by $5 trillion compared to the President’s budget; reform taxes by closing loopholes the rich and well-connected take advantage of while lowering the tax rate for everyone; and strengthen our safety nets so that Medicare is intact when you retire – whether you are 65 or 35 or 5.
Healthcare
Although not in Congress, just across the street the Supreme Court heard oral arguments on the constitutionality of the President’s health care law. While a decision is not expected until June, the arguments may play a crucial role in the Justices’ final opinion. You can hear the oral arguments or read the transcripts on the Supreme Court’s website (the arguments are dated March 26-28).
I hope this update is helpful to you and that you will keep in touch with me on the issues important to you.
Sincerely,
Daniel E. Lungren
Member of Congress
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