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Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
Contact: editor@arranewsservice.com (Pub. Since July, 2006)
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Monday, May 16, 2011

Even More Democrat Skepticism Of Dems' Tax Hike On Energy Producers

Today in Washington, D.C. - May 16, 2011:
No Senate votes are scheduled for today. On Tuesday, the Senate is scheduled to take up the nomination of Susan L. Carney to the 2nd Circuit Court of Appeals. Senate Majority Leader Harry Reid (D-NV) has suggested the Senate could move to S. 940 this week. S. 940 is Democrats’ bill to raise taxes on American energy companies.

Washington Post: The House Armed Services Committee has endorsed the Obama administration’s proposal to raise out-of-pocket costs for working-age retirees in the military health plan known as Tricare, the first increase in 16 years.  Retired service members who are still eligible to work would pay $520 a year for family coverage starting Oct. 1, up from $460. Premiums for individual plans would rise to $260 from $230.

Another key Senate Democrat has thrown cold water on Democrat leaders’ plans to raise taxes on American energy producers. According to The Hill, “Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-N.M.) predicted Friday that a Democratic plan to strip billions of dollars in tax breaks for the largest oil companies will fail in the Senate next week.  . . . Democratic leaders are planning a test vote on their plan to end incentives for Exxon, Shell, BP, Chevron and ConocoPhillips that are worth an estimated $21 billion over 10 years. But Bingaman said the plan – which would steer the savings into deficit reduction – does not have enough votes. ‘I don’t believe it does, and I think the Republicans will come up with some alternative they are going to offer that does not have the votes either,’ he told C-SPAN.”

Not only that, Bingaman isn’t even sure he’d vote for the bill, saying, “Frankly I haven’t decided how to vote. . . .”

Sen. Bingaman’s statement comes on the heels of Sens. Mary Landrieu (D-LA) and Mark Begich (D-AK) calling the bill “laughable” and “a gimmick.” Speaking on the Senate floor last week, Landrieu said, “This will not reduce gasoline prices. So why are we doing it? Will it create jobs? No. It will actually hurt job production in the United States.”

In fact, several leading Democrats, including even a sponsor of the bill, have acknowledged that it simply will do nothing to reduce gas prices. At a Finance Committee hearing last week, Chairman Max Baucus (D-MT) said, “You know, this is not going to change the price at the gasoline pump. That’s not the issue.  I don’t see that as an issue at all.” Mary Landrieu said, “It will not reduce gasoline prices by one penny.” As did Mark Begich: “It won't decrease prices at the pump.” Sen. Chuck Schumer (D-NY), a member of Democrat Senate leadership, admitted, “This was never intended to talk about lowering prices.” And even Sen. Bob Menendez (D-NJ), one of the sponsors of the bill asserted, “Nobody has made the claim that this bill is about reducing gas prices.”

On CNN’s State of the Union yesterday, Senate Republican Leader Mitch McConnell dismissed Democrats’ political proposal and pointed out the serious consequences it could have: “The Senate Democrats, you're right, do want to raise taxes on what they call the big five oil companies which of course will raise the price of gas at the pump, send jobs overseas and make us get even more oil from Hugo Chavez. That’s just a political stunt that Mary Landrieu, Democratic senator from Louisiana, called laughable.”

Tags: Washington, D.C., US Senate, US House, energy tax, oil company, TRICARE, fees, military retirees To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 12:53 PM - Post Link

1 Comments:

Anonymous John Eck said...

If it was not coming into an election cycle those Dems would not be backing off, they'd jump at the chance to raise our energy costs. Raise energy costs plus tax vehicles for every mile driven guess it ain't gonna be so cost effective to drive them there electric cars after all! Plus they will have to hire illegals to ride on the back and keep the extension cords from getting tangled up!

5/16/2011  

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