After internal party debate, Democrats have decided to call for a revote on the budget reconciliation bill which recently passed the House by an extremely close vote of 216-214. The bill ran into trouble when it became known that the President signed a different version than that which was passed by Congress. Because the cuts passed in the bill are so contentious, Democrats have chosen to put the spotlight back on the issue by calling for a revote, as opposed to allowing the fixed bill to pass easily under unanimous-consent agreements.

February 13 President Bush issued his 2006 Economic Report to Congress. The eleven chapters cover many issue areas including the workforce, retirement savings, the U.S. tax system, and the financial services sector. The chapter on taxation discussed the U.S. tax system's high corporate tax rate and double taxation of corporate profits. This attention reflects the Bush administration's dedication to extending low investment tax rates.

Sen. John McCain (R-AZ) introduced a bill yesterday -- called the "Pork Barrel Reduction Act" -- meant to crack down on the use of earmarks in appropriation bills and conference reports. The bill would allow senators to oppose earmarks by raising a point of order. Senate rules require 60 votes to waive a point of order, and if one is waived the earmark would stay in the bill or conference report. The bill is being co-sponsored by Sens. Russ Feingold (D-WI) and Evan Bayh (D-IN), and it would also:

Much has been made of the secret computer run published in the Washington Post yesterday that shows detailed and substantial program cuts over the next five years and the contrast between proposed increases for defense and military spending and cuts to pretty much every other domestic investment (read here, here, here, and here).