DAILY FISCAL POLICY REPORT -- 02-27-08

Budget Resolution (BR) -- Weapons of Instruction: Senate Budget Committee Chair Kent Conrad hasn't yet decided whether to separate the tax and spending reconciliation bills or include reconciliation instructions in the FY09 BR his committee is to mark up next week. (FY09 Instruction, see p. 44) Among the instruction items under consideration:
  • extending renewable energy tax credits
  • money for state infrastructure
  • delaying a June 30 Medicare physicians pay cut
  • Medicare Advantage funding cuts
  • education legislation
  • a one-year offset AMT patch
  • and, perhaps...
Earmarks -- DeMint Moratorium Amendment: Sen. Jim DeMint (R-SC) said yesterday that he would propose a one-year moratorium earmarks in all FY09 spending bills via amendment to or instruction in the budget resolution. Press Release. Farm Bill -- Waiting for Paygo: Negotiations on a new five-year farm bill that would cost $10 billion more than current law are stalled until Congress's tax-writing committees to find a way to pay for it... Conrad has said offset would come from an increase in customs duties and user fees rather than tax increases... The 2002 farm bill expires Mar. 15. More from AgWeb.
back to Blog