Policy Papers
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Expiring Provisions
Starting in January, the new Republican Senate finished the remaining business left by the previous Democrat Senate. The Republican Senate then acted on important priorities for the American people like a balanced budget and education reform. The Senate is prepared to tackle the high profile issues that must be resolved during the fall. The Senate has been working more and better than it did under Democrat control, and more work remains to be done. This includes a long list of things to take... Continue Reading
August 7, 2015
July 2015 Jobs Report
Unemployment Rate: 5.3 percent Unemployed Americans: 8.3 million Employment and Unemployment The Department of Labor reported an unemployment rate of 5.3 percent for July, unchanged from last month. It reported an increase of 215,000 nonfarm jobs in July. Employment for May was revised up from 254,000 to 260,000 jobs created; and June was revised up from 223,000 to 231,000. Unemployment in July among those ages 16-19 was 16.2 percent, down 1.9 percentage points from last month. Among... Continue Reading
August 4, 2015
A Senate Working for the American People
Republicans have delivered on their promise to lead the Senate responsibly. Congress has been reenergized, and it’s working again on bipartisan bills. Under Republican leadership, the Senate is now known for its record of accomplishment, not the gridlock of the past. The American people asked for a Senate that works as hard as they do. After seven months, the record is clear: Senate Republicans are making good on their promise to govern. A Record of Success Last month, National Journal... Continue Reading
July 30, 2015
Q2 Economic Growth Disappoints
Today the Commerce Department’s Bureau of Economic Analysis reported that inflation-adjusted GDP grew at an annualized rate of 2.3 percent, below expectations, in the second quarter of 2015. The Wall Street Journal had predicted 2.7 percent growth. BEA also upgraded the first quarter estimate to a paltry 0.6 percent. This news is disappointing in that growth seems to be stuck in a range somewhere between disappointing and barely acceptable. Very good growth levels remain elusive. This is... Continue Reading
July 28, 2015
A Solution on Highways
The Highway Trust Fund has had 33 short-term extensions since 2009; current authorization for funding expires on July 31. The bipartisan DRIVE Act is the first long-term highway bill since 2005. The DRIVE Act authorizes federal surface transportation programs for six years. It requires $47 billion in offsets to keep the Highway Trust Fund solvent for three years. On July 31, authorization for funding the Highway Trust Fund expires. Since 2009, Congress has passed 33 short-term... Continue Reading
July 20, 2015
Greece Should Be a Lesson for the U.S.
Greece’s primary fiscal problem is the same as the U.S. – they spent more than they took in for far too long. Washington should heed the warning and take care of our debt problem before it gets completely out of control. It appears that Greece will eventually receive an 86 billion euro bailout from other European governments. This is in exchange for raising taxes, raising the retirement age, privatizing some public-sector activities, and making market reforms. However, Greece has... Continue Reading
July 2, 2015
June 2015 Jobs Report
Unemployment Rate: 5.3 percent Unemployed Americans: 8.3 million Employment and Unemployment The Department of Labor reported an unemployment rate of 5.3 percent for June, a decline of 0.2 percentage point from May. It reported an increase of 223,000 nonfarm jobs over last month. Employment for April was revised down from 221,000 to 187,000 jobs created; and May was revised down from 280,000 to 254,000. Unemployment in June among those ages 16-19 was 18.1 percent, up 0.2... Continue Reading
June 22, 2015
CBO Offers Sobering Look at the Long-Term
CBO’s latest report on the long-term budget outlook shows debt skyrocketing to a point higher than the record level set after World War II. High debt levels hurt workers, seniors, and future generations. Such a large debt also makes it more difficult to respond to military or economic crises. The Congressional Budget Office has released its annual report on the long-term budget outlook. Since the federal government has not put in place any long-term budgetary savings since last... Continue Reading
June 9, 2015
Dodd-Frank Agency’s Massive Data Collection
Far less scrutiny has been given to the massive data collection of the Consumer Financial Protection Bureau created by Dodd-Frank than to the data collection under the Patriot Act. CFPB is currently amassing data on nearly 600 million consumer credit card accounts. The CFPB is unchecked, unaccountable, and lacks real transparency in the collection of Americans’ financial information. “The CFPB’s massive data collection effort is an unwarranted, unwelcome intrusion into the... Continue Reading
June 5, 2015
May 2015 Jobs Report
Unemployment Rate: 5.5 percent Unemployed Americans: 8.7 million Employment and Unemployment The Department of Labor reported an unemployment rate of 5.5 percent for May, an increase of 0.1 percent from April. It reported an increase of 280,000 nonfarm jobs over last month. Employment for March was revised from 85,000 to 119,000 jobs created; and April was revised down from 223,000 to 221,000. The number of unemployed people in May was 8.7 million, an increase of 125,000... Continue Reading
May 19, 2015
Republicans Pave Way for Transportation Funding
On May 31, authorization for funding the Highway Trust Fund expires. Beginning in October 2009, the Democrat-controlled Senate passed 12 short-term highway bill extensions. Senate Republicans are working to find a long-term solution for funding our nation’s highways and transportation programs. “I am committed to finding a long-term solution on highways. I plan to keep working with my colleagues … on finding a way to get us... Continue Reading
May 8, 2015
S. 995 – Trade Promotion Authority
Noteworthy Floor Situation: On Tuesday May 12, the Senate will vote to invoke cloture on the motion to proceed to H.R. 1314, which will serve as the vehicle for the trade debate, particularly the Trade Promotion Authority bill. Background/Executive Summary: Trade Promotion Authority is the legislative framework Congress created for executive-legislative interaction on international trade agreements. It outlines the legislature’s views on what the negotiating objectives should be in trade... Continue Reading
May 8, 2015
April 2015 Unemployment Report
April 2015 Unemployment Rate: 5.4 percent Unemployed Americans: 8.5 million Employment and Unemployment The Department of Labor reported an unemployment rate of 5.4 percent for April, a decrease of 0.1 percent from March. It reported an increase of 223,000 nonfarm jobs over last month. Employment for February was revised from 264,000 to 266,000 jobs created; and March was revised down from 126,000 to 85,000. The number of unemployed people in April was 8.5 million,... Continue Reading
April 29, 2015
The Economy Stalls Again
First quarter GDP increased at an inflation-adjusted rate by only 0.2 percent. President Obama should work with the Republican Congress on common-sense, bipartisan proposals to increase economic growth. Today the Bureau of Economic Analysis reported that first quarter GDP increased at an inflation-adjusted, annualized rate of 0.2 percent, far below expectations. Economists had predicted growth of one percent for the quarter. In the fourth quarter of 2014, GDP increased at an annualized rate of... Continue Reading
March 24, 2015
Republican Budget Balances, Obama’s Never Does
The Senate budget supports stronger economic growth, balances within 10 years, and makes responsible choices that all American families have to make when they balance their own budgets. The budget resolution that the Senate is debating makes tough choices, which President Obama again failed to do in his budget for fiscal year 2016. By slowing the rate of spending growth over 10 years, the Senate budget balances without tax increases. President Obama proposed $1.8 trillion in tax increases and... Continue Reading
March 23, 2015
S.Con.Res. 11 – Concurrent Resolution on the Budget for Fiscal Year 2016
Noteworthy Background: The budget resolution passed out of the Senate Budget Committee on a 12-10 vote. Chairman Enzi released background information on the budget resolution here. Floor Situation: The Senate will consider the fiscal year 2016 budget resolution during the week of March 23. Debate time is limited to 50 hours. Upon the use or yielding back of the 50 hours, the Senate will begin a “vote-a-rama” on amendments. Some amendments may receive votes during the week... Continue Reading
March 17, 2015
Republicans’ Balanced Budget
Republicans will produce a balanced budget to bring an end to the Obama-era record deficits (on average, more than $1 trillion annually) and ever-increasing debt (now over $18 trillion). Balancing the budget leads to more private investment and job growth. High debt levels subject our economy to foreign borrowing and hurts the U.S. economy. Senate Budget Committee Chairman Enzi will propose a budget resolution that would balance by the end of the 10-year budget window. For six years,... Continue Reading
March 11, 2015
The Debt Limit Is Back
The debt limit will go back into effect on March 16. The Treasury Department can delay the date by which Congress must act until October or November of this year. Leader McConnell: “We’re … not going to shut down the government or default on the national debt.” (CBS, Face the Nation, 3/8/15) After disappearing for 13 months, the debt limit will be back on March 16. In February 2014, Congress passed P.L. 113-83, which suspended the debt limit statute. Beginning on... Continue Reading
March 6, 2015
February 2015 Unemployment Report
February 2015 Unemployment Rate: 5.5 percent Unemployed Americans: 8.7 million Employment and Unemployment The Department of Labor reported an unemployment rate of 5.5 percent for February, a decrease of 0.2 percent from January. It reported an increase of 295,000 nonfarm jobs over last month. Employment for December remained unchanged at 329,000 jobs created; and January was revised down from 257,000 to 239,000. The number of unemployed people in February was 8.7... Continue Reading
February 3, 2015
Same Old Story from New Obama Budget
President Obama’s budget would add $8.5 trillion in new debt, with the national debt eventually reaching $26.3 trillion. Interest on the debt triples from $229 billion in fiscal year 2015 to $785 billion in 2025. The president’s budget would raise taxes by $2.1 trillion over 10 years. The president has already raised taxes on Americans by $1.7 trillion. The fiscal year 2016 budget would spend $4 trillion for the first time in U.S. history. Debt Continues to Skyrocket This budget... Continue Reading