The Senate is currently making progress on bipartisan legislation designed to shrink the U.S. trade deficit with China and restore up to 2.8 million domestic manufacturing positions. Yesterday, a majority of both Democrats and Republicans in the Senate voted to invoke cloture on the China trade bill, a.k.a. the Currency Exchange Rate Oversight Reform Act, and they're expected to pass it by the end of the week. But that will be the end of the line for the bill.Read Full Article
Two powerful congressmen recently introduced a bill with strong corporate backing to legalize robcalls to cellphones. The bill, which has been titled the "Mobile Information Call Act" would amend the 1991 Telephone Consumer Protection Act, which restricts robocalls to any phone service "for which the called party is charged for the call," including cell phones, by adding an exemption for calls that are "made for a commercial purpose that does not constitute a telephone solicitation." The bill would also pre-empt all state-law restrictions on such calls.Read Full Article
Free-trade deals generally help some American companies increase their exports and create jobs. However, history shows that they tend to do far more to increase imports, which may help consumers access cheaper goods and manufacturers access cheaper parts, but has a net negative impact on jobs in the U.S. In the first decade that NAFTA was in effect, for example, nearly 900,000 U.S. manufacturing jobs were lost due to accelerated trade imbalances with Mexico and Canada, our then-new free-trade partners.
But while workers tend to lose out in the deals, big American companies benefit by gaining access to new markets of cheap labor overseas. That's why the Chamber of Congress and dozens of major U.S. corporations like Wal-Mart, Microsoft and GE have been pushing Congress for years to finalize the free-trade deals with Colombia, South Korea, and Panama that were drafted under the Bush Administration. In recent months, the Obama Administration has begun championing the deals, calling on Congress repeatedly to pass them as a way to boost employment.Read Full Article
The patent-system-reforming "America Invents Act" looks set to sail through the Senate and be signed into law in a matter of days. Last night, the Senate voted 93-5to move it forward towards a final vote on passage, with members on both sides of the aisle hailing it as a bipartisan jobs measure. Sen. Jon Kyl [R, AZ], for example, said on the Senate floor yesterday that the bill would create "a powerful incentive for manufacturers to build factories and create jobs in this country," and Majority Leader Harry Reid [D, NV] said it would "unlock the job-creating potential of each patent."
Say what? Since when do Democrats and Republicans in the 112th Congress agree on a jobs bill? They've already failed to move forward with several jobs measures this year by getting caught up on unrelated, partisan issues, so what's so special about the patent bill that everyone's suddenly playing nice? I don't really know the answer to that for sure, but what I do know is that the other jobs bills that died this year did not have any corporate backing. But this one, on the other hand…Read Full Article
With the giant Defense budget, the tax-cut extensions, the bailouts, and the lack of tax reciepts from the economic crisis, the ceiling on our national debt is going to have to be increased, by the end of March according to Tim Geithner, if we are to avoid defaulting on our debt and destroying whatever modicum of creditworthiness we have left in the international community.
Voting to raise the debt ceiling is always unpopular, and its must-pass nature makes it a perfect tool for the minority party to force the majority to register an unpopular vote. Rep. Michael Simpson [R, ID-2] admitted as much last year, arguing that the unpopular debt ceiling vote was not his party's responsibility. "That is the burden of the majority," he said.Read Full Article
In my article yesterday refuting the claims Republicans are making in their attack ads alleging that conservative Democrats have liberal voting records, several people in the comments asked if I was going to address similar falsehoods in Democratic ads. I responded that of course I would if someone could show me an example of a Democratic attack ad that uses data to bolster lies. The suggestion was that I look at Obama's claim that the Chamber of Commerce is funding ads against Democrats with contributions from foreign entities. So let me address that.
Here's what we know about the Chamber:Read Full Article