10 Updates

'Fair Shot for Everyone' Contains Details for No One

Apr 2 2014, 10:52am CDT | by

Setting a new low for lack of detail and specificity, Senate Democrats unveiled their “Fair Shot for Everyone” agenda last week. Only loosely a set of real proposals, the agenda is merely a series...

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16 weeks ago

'Fair Shot for Everyone' Contains Details for No One

Apr 2 2014, 10:52am CDT | by

Setting a new low for lack of detail and specificity, Senate Democrats unveiled their “Fair Shot for Everyone” agenda last week. Only loosely a set of real proposals, the agenda is merely a series of talking points designed to distract voters from President Obama’s lagging approval numbers and the continuing unpopularity of the Affordable Care Act. The Fair Shot agenda makes Ohio Republican Sen. Rob Portman’s “Jobs for America” plan look fully developed and transparent.

At the March 27 press conference  announcing their election year platform, prominent Democratic senators emphasized that although their plan was designed to proactively aid the middle class, Republicans were determined to defend a status quo skewed toward the rich and multinational corporations. Sen. Charles E. Schumer of New York argued that the press was focused too much on Obamacare, which doesn’t even affect 85 percent of Americans. “You folks all want to ask about Obamacare, but the American people, most of them, are not directly affected by Obamacare,” Schumer said. “They want to hear what we’re going to do for them.” And the Democratic plan is full of small items designed to spur turnout among their base in what is expected to be a dismal round of midterm elections for them.

Most of the Democrats’ Senate agenda is focused on nontax items. Not surprisingly, Senate Majority Leader Harry Reid and Senate Budget Committee Chair Patty Murray want to hold another vote on expired unemployment benefits. They will also propose a higher minimum wage. The Democrats will push for a vote on equal pay for women, something they know will fail. Expect that to be held on April 8 (which has been dubbed “Equal Pay Day”).

Murray criticized Republicans for tinkering with the tax code instead of raising the minimum wage (which was a thinly veiled criticism of House Ways and Means Committee Chair Dave Camp’s comprehensive tax reform plan). Her main tax item is legislation to expand the earned income tax credit. The senators at the press conference railed against tax breaks for companies that locate jobs and profits overseas but, as usual, didn’t reveal what tax provisions they were talking about or how they planned to address those issues. Democratic Sen. Debbie Stabenow of Michigan has introduced a complicated provision that limits deductions for moving jobs overseas and creates a credit for “insourcing,” but that is hardly a serious base erosion and profit-shifting proposal.

Reid did say he hoped to find bipartisan support for energy tax legislation drafted by Portman and New Hampshire Democrat Jeanne Shaheen. The majority leader might hold a vote on Missouri Republican Roy Blunt’s plan for manufacturing incentives. The goal is to show that Democratic control of the Senate can produce legislation with the support of both parties, while still protecting the Democratic base.

Tax reform observers probably expected little from Democrats this year, and that’s exactly what they got. The loss of Baucus means we won’t get something comparable to Camp’s draft. Instead, both parties have decided to cloak campaign puffery in the form of tax rhetoric and small bills that will have little chance of becoming law.

Source: Forbes Business

 
Update
10

6 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

Cambodia's Famous Battambang Circus
KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

6 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

Sydney FC v West Ham United - Football United New Zealand Tour 2014
KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by robb ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

6 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

Federal Aviation Administration Bans All US Flights To Israel
KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Rakyat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

6 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

6 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

INDIA-CHINA-DIPLOMACY-TRADE
PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

Government Weekly Cabinet Meeting
KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Mohamed sai ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

Iskandar Johor Open - Previews
JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

EurAsia Cup presented by DRB-HICOM - Day One
PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sc ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansa ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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