CNN and Roll Call are reporting that Michele Bachmann is set to form a Presidential exploratory committee. The committee could be formed as early as June and would allow Bachmann to participate in early debates. Bachmann is a favorite of the Tea Party and has proven fundraising abilities.
To read the CNN article, please click here:
To read the Roll Call article, please click here:
http://www.rollcall.com/news/-204298-1.html
Jim Sutliff
The Bureau of Ocean Energy Management, Regulation and Enforcement, is expected to issue more oil and gas deep water drilling permits in the Gulf of Mexico. The drilling permits may be issued within the next week. In addition, some offshore leases that were effected by the five month drilling ban will be extended. Geopolitical risk has moved crude oil above the $100 a barrel mark and that may be a factor in the decision to issue more drilling permits.
To read a related Wall Street Journal article, please click here:
James Sutliff
The House Ways and Means Committee on tax writing will propose tax rate cuts for individuals and corporations. The highest tax rate proposed will fall from 35% to 25%. There are no specific details regarding a timeline or which offsetting tax breaks would face elimination. Michigan Republican Congressman David Camp is the Chairman of the tax writing committee.
To read a related Bloomberg article, please click here:
Jim Sutliff
The Drudge Report is a premier site that provides coverage of business, politics, and world events. The Drudge Report has valuable links to sites and articles in an easy to read format.
To visit The Drudge Report, please click here:
James Sutliff
Dean Heller has stated that he will seek the Nevada Senate seat held by Senator Ensign. Last week, Senator Ensign announced that he would retire and not run for re-election. The Ensign departure could trigger a crowded Republican field but Heller is expected to be a strong favorite. Nevada is likely to support the Republican Presidential candidate in 2012 and the GOP Senate candidate will benefit from the political tide.
To read a related Roll Call article, please click here:
http://www.rollcall.com/news/Dean-Heller-Senate-Bid-Official-204116-1.html
Jim Sutliff
Chicago reached an agreement with United and American Airlines for a $1.17 billion dollar plan. The expansion and modernization program would help to reduce flight delays by adding and reconfiguring runways.
To read a related Reuters article, please click here:
http://www.reuters.com/article/2011/03/14/us-chicago-airlines-ohare-idUSTRE72D5N020110314
James Sutliff
Another short term funding bill is being considered by Congress to prevent a government shutdown. The measure is expected to provide three weeks of funding past the current March 18th deadline. It is also expected to cut $6 billion of spending over the three week period.
To read a related MSNBC article, please click here:
Jim Sutliff
The Wisconsin Assembly passed the bill removing collective bargaining rights from state workers. The bill was moved forward without Senate Democrats who had left the state. There are expected to be several recall elections for Republican and Democratic Senate seats. Wisconsin only allows recall elections for officials that have held office for at least one full year.
To read a related Wall Street Journal article, please click here:
James Sutliff
The 2012 Senate races are likely to shift majority control to the Republicans. Democrats are facing an uphill battle in competitive states and a growing number of retirements. A recent Roll Call article by Stuart Rothenberg discusses the dynamics behind eight competitive races. The Presidential election may have a strong influence on results in Ohio, Michigan, Missouri, and Wisconsin.
To read the Rothenberg article on Roll Call, please click here:
http://www.rollcall.com/issues/56_94/-203993-1.html
Jim Sutliff
Bankrate.com provides a tax guide that can be of assistance this tax season. A recent article discusses that Making Work Pay tax credit. The article outlines the income limits for the tax credit and the reasons to file a schedule M with your return.
To read a related Bankrate.com article, please click here:
http://www.bankrate.com/finance/taxes/claiming-the-making-work-pay-credit-1.aspx
James Sutliff
Democratic Senator Daniel Akaka has joined a growing list of Democrats that will not run for re-election in 2012. The decision not to run makes the Senate seat for Hawaii a competitive race. Republicans are likely to run former Governor Linda Lingle for the seat. Potential Democratic candidates are Lieutenant Governor Brian Schatz and Congresswoman Collen Hanabusa.
To read a related Bloomberg article, please click here:
Jim Sutliff
The Senate passed a stop-gap bill that provides 2 more weeks of funding. The measure passed the Senate by a vote of 91-9. The bill prevents a government shutdown of some services starting on March 5th. Spending cuts of $4billion came from funds for member projects.
To read a related Wall Street Journal article, please click here:
James Sutliff
The Government Accountability Office (GAO) released a 345 page report on government programs that duplicated efforts. Republicans and Democrats embraced the report as a guide to cut government spending. Republican Senator Tom Coburn requested the report and estimated savings that could exceed $100 billion dollars.
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Jim Sutliff
Last week, the Senate approved approved a $35 billion dollar aviation bill. The legislation is expected to bring more competition to routes from the west coast to the Washington DC area. The bill passed the Senate with an 87-8 vote.
To read a related Wall Street Journal article, please click here:
http://online.wsj.com/article/SB10001424052748703561604576150871155244528.html
James Sutliff
Rahm Emanuel won the Chicago Mayoral race with over 50% of the vote. There will not be a run-off election because Emanuel carried more than 50% of the vote. The race began last fall after Mayor Richard Daley announced that he would not run for re-election after serving six terms.
To read a related Yahoo! News article, please click here:
http://news.yahoo.com/s/ap/ap_on_go_ot/us_chicago_mayor
Jim Sutliff
