The House of Representatives voted 235-189 to cut spending by $61 billion dollars. The vote was along party lines with most Republicans voting for the bill which had deeper spending cuts than originally proposed. Democrats are expected to make significant changes to the bill in the Senate.
To read a related Wall Street Journal article, please click here:
James Sutliff
Senator Bingaman of New Mexico became the fourth Democrat to announce retirement plans for 2012. The democrat served five terms and was expected to face a strong Republican challenge in the next election. The New Mexico Senate seat is considered a toss-up and could fall into Republican hands. Currently, Republicans have 47 Senators are expected to take control of the Senate in 2012.
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To read a related Cook Political report, please click here:
Jim Sutliff
Senate hearings are heating up regarding the funding of the Dodd-Frank bill. Major agencies are requesting funds to implement the bill and are facing resistance from Republicans and some Democrats. Republicans have 47 Senators that are likely to be united in efforts to delay and defund the legislation.
To read a related Reuters article, please click here:
http://www.reuters.com/article/2011/02/17/us-financial-regulation-congress-idUSTRE71G15020110217
Jim Sutliff
The Rothenberg Political Report is a great source for news and analysis on politics. Recently, the Rothenberg Political Report had an article on the challenges that the Democrats will face in the 2012 Senate races. The recent decision by Webb and Conrad not to seek re-election highlights the uphill battle for the Democrats.
To read the Rothenberg Political Report, please click here:
http://rothenbergpoliticalreport.com/news/article/webb-underscores-democrats-2012-challenge
James Sutliff
Maryland is considering a bill that would require the purchase of electricity from offshore wind farms. The Maryland Offshore Wind Act of 2011 set the stage for utilities to purchase between 400 and 600 megawatts from offshore wind farms for at least a 20 year period. The Department of the Interior has identified four areas as potential sites for wind farms. The locations are off the coastlines of Delaware, Maryland, New Jersey, and Virginia.
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Jim Sutliff
The National Commission on the BP Deepwater Horizon Oil Spill released some of their findings to the House Committee on Transportaion and Infrastructure. One finding addresses the need for stricter oversight of drilling by receiving $200 million in funding from the oil industry. The result would cost the oil industry between 7 and 12 cents a barrel.
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James Sutliff
Senator Jon Kyl has announced that he will not run for re-election. The Republican Senator first won the Arizona senate seat in 2006. Arizona will most likely vote for the Republican Presidential candidate in 2012 and that should help the Republican candidate for Senate. However, the Democrats are likely to make an attempt at winning the seat and may have Janet Napolitano as their candidate.
To read a related Bloomberg article, please click here:
Jim Sutliff
Virginia Senator Jim Webb has announced that he will not run for re-election in 2012. The Democrat first won the Senate seat by a small magin in 2006. Webb would have faced a rematch with former Republican Senator George Allen. George Allen is a strong favorite to take back the Senate seat in 2012.
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James Sutliff
Senate Democrats are attempting to eliminate tax breaks for the oil industry. In a recent letter, Senate Democratic leaders asked House Speaker Boehner to remove tax breaks for the oil industry to help cut spending. The letter was signed by Senate Democrats that included Reid, Schumer, and Durbin. The move seems to be mostly political and is not likely to result in any significant change in tax breaks. The Democrats had control of Congress and the White House for two years without eliminating the tax breaks that are referenced in the letter.
To read a related article in The Hill, please click here:
Jim Sutliff
The Senate voted on party lines against repealing the health care overhaul. The outcome was expected with the final vote being 51-47. However, there was a change made to health care law which affects small businesses. The Senate voted 81-17 to remove a requirement that businesses file a 1099 tax form for vendors that they pay $600 or more per year.
To read a related Wall Street Journal article, please click here:
http://online.wsj.com/article/SB10001424052748704775604576120602891006160.html
Jim Sutliff
Three Senate Democrats that are on retirement watch are Herb Kohl, Daniel Akaka, and Jim Webb. Roll Call reports that the Herb Kohl Senate campaign has a $1 million dollar loan. That may or may not indicate a re-election campaign. A better indication would be if the next spending report shows that the funds are actually spent. Both Akaka and Webb posted very low fundraising numbers and will face strong Republican candidates if they seek re-election.
To read the Roll Call article, please click here:
http://www.rollcall.com/issues/56_77/-203097-1.html
Jim Sutliff
Roll Call reports that Republican John Thune will make his decision regarding the 2012 Presidential campaign by the end of the month. Senator Thune would be in a crowded Republican field and he would need to make an early decision to help with the fundraising effort. There is a strong chance that Thune will run for President and he will likely set up operations quickly in Iowa, New Hampshire, and Arizona.
To read the Roll Call article, please click here:
http://www.rollcall.com/news/-203098-1.html
James Sutliff
The Democratic Convention in 2012 will be held in Charlotte North Carolina. Democrats have made gains in recent years and are hoping that the move will keep the state in play in 2012. However, Republicans will most likely win North Carolina and most of the south in the next Presidential race. Cities that were rejected by the Democrats were Minneapolis, St.Louis, and Cleveland.
To read a related Yahoo! article, please click here:
http://news.yahoo.com/s/ap/20110201/ap_on_go_ot/us_democrats2012
Jim Sutliff
Rahm Emanuel is back on the February 22nd Chicago Mayoral ballot. The Illinois Supreme Court ruled unanimously that Rahm Emanuel met the residency requirement and reversed a January 24th appeals court ruling. The former White House Chief of Staff may also have a run-off election on April 5th if no candidate receives more than 50 percent of the vote.
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James Sutliff
George Allen has declared his candidacy for the U.S. Senate in 2012. The former Virginia Senator is the clear favorite to to the Republican primary as well as the general election. A recent Roll call article discusses Senate campaigns by former Senators and the difficulty that they have had in winning back their old seats.
To read the Roll Call Article, please click here:
http://www.rollcall.com/issues/56_72/-202781-1.html
Jim Sutliff
