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June 2, 2010 - by Donny Shaw

  • President Obama said today that he plans to help push climate change legislation through the Senate this year (MSNBC First Read)
  • Sam Stein looks at BP’s lobbying game and finds 27 former Hill and White House staffers now working for the company to influence federal policy. (Huffington Post)
  • A loophole in last-year’s increase in tobacco taxes has cost the government $250 million so far. (AP).
  • Rep. Steve Cohen [D, TN-9] has a bill called the Tobacco Tax Parity Act to fix the loophole. It involves raising taxes on pipe tobacco by about 775%. (OpenCongress)
  • As of yesterday, the national debt has officially crossed the $13 trillion mark. (Washington Independent)
  • Members of the Black Caucus have introduced a resolution, H.Res.1416, to prohibit the Office of Congressional Ethics from making available investigative reports that didn’t produce any evidence of wrongdoing. (New York Times)
  • Mountaintop mining is having a serious impact on some of West Virginia’s most treasured rivers, yet Rep. Nick Rahall [D, WV-3] has been single-handedly blocking the EPA from taking action. (Washington Independent)
  • House Speaker Rep. Nancy Pelosi [D, CA-8] says she personally supports the stronger derivatives language in the Senate’s financial reform bill. (FDL News Desk)
  • Arianna Huffington on Congress’s efforts to clamp down on offshore corporate tax havens. (HuffPo)
  • Several Republicans will be using tonight’s Taylor Swift concert as a fundraising event. (Party Time)
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  • Chris51 07/01/2010 10:03am

    Corporations have increased their cash reserves to $1.84 TRILLION, THE HIGHEST FIGURE IN HISTORY! Big business and the banks, after an unprecedented bailout by the public treasury, are hoarding the funds (Americans pay this back on their IRS tax bill). BIG CORPORATIONS EXECUTIVES ARE MAKING BIG BONUSES AND GETTING SALARY INCREASES FOR SHOWING HUGE PROFITS. The cash reserves of major corporations have jumped 26 percent in one year, the largest percentage increase in nearly 60 years. The cash reserves of working people, and particularly the unemployed, have not been so fortunate.

    REPUBLICANS bloc, the SENATE vote and defeat sevaral proposed extension of unemployment benefits for unemployed workers. Many of these same Senators rushed through a $700 BILLION bailout of Wall Street in 2008 in a matter of days, cannot bring itself to support even the most meager subsistence for the unemployed workers who are the victims, not the perpetrators, of the economic crisis.

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