MORNING MESSAGE: No More Hostage Taking
OurFuture.org's Robert Borosage: "Republicans in Congress are intent on creating yet another manufactured budget crisis. This one is timed to come after bruising negotiations over the next weeks to avoid the deep, across the board cuts required by the sequester and the threat to shut down the government with the expiration of the continuing resolution funding government scheduled for March. Now they intend to extend the debt ceiling for only four months ... This is an utterly irresponsible and economic destructive course of action. The deficit is already down 25 percent as a percent of the economy. It is falling faster than any time since the end of World War II. It will continue to fall unless the hostage taking exacts more cuts or creates more instability that drives our weak recovery back into recession. Holding America hostage is no way to negotiate a budget. The president should simply say no more."
WH, Senate Warm To House Debt Limit Proposal
Senate expected to pass House 4-month debt limit suspension, despite condition forcing Senate to quickly pass budget. The Hill: "Senate Democrats are likely to accept grudgingly a House bill to raise the debt ceiling until May 19. Majority Leader Harry Reid (D-Nev.) hinted Tuesday that the Senate would take up and pass the bill ... The House bill suspends the debt ceiling and contains a provision that would withhold lawmakers' pay in the House and Senate until that chamber passes a 2014 budget resolution. The White House said formally Tuesday that it does not oppose the House bill, leaving Senate Democrats with little room to object ... Sen. Charles Schumer (D-N.Y.) on Sunday suddenly announced that the chamber for the first time in four years will vote on a Senate Democratic budget resolution. He said the budget would be used to advance tax code reform."
House plan is for debt limit suspension, not increase. MSNBC's Steve Benen: "Lawmakers are effectively declaring, 'The debt ceiling won't exist until mid-May.' In other words, Congress authorizes federal spending and the administration acts accordingly, but instead of needing congressional approval to borrow the difference, the White House will be able to just borrow as necessary -- without authorization -- for nearly four months without regard for legal limits ... Of course, this raises a related question: can't Congress just make this permanent?"
Tea Party groups complain about lack of spending cuts. McClatchy: "'This proposal is more of the same,' said Dean Clancy, legislative counsel for FreedomWorks, a conservative group. 'Once again, Republican leadership is negotiating with itself to temporarily bail the big spenders out by lifting the U.S. debt limit for four months, with no immediate accompanying budget reforms or spending reductions.'"
House Republicans will pass another Paul Ryan budget before April 15 reports Politico.
Tax the speculators? EU moves ahead. BBC: "EU ministers have given the go ahead for 11 eurozone members, including France and Germany, to prepare a new financial transactions tax. The approval under 'enhanced co-operation' rules allows the smaller group to pioneer the tax. Governments previously failed to agree to impose the tax across the entire 27-member EU or 17-member eurozone."
Crunch Time For Filibuster Reform
Reid warns Republicans on filibuster reform. Politico: "Reid and Minority Leader Mitch McConnell met Tuesday on a proposal to pare back the use of the potent stalling tactic, but the Nevada Democrat then publicly threatened to change the filibuster rules with 51 votes, rather than 67 votes, if a deal can’t be reached soon ... As part of any deal, McConnell wants to ensure he has a guaranteed number of amendments if Reid chooses to speed debate ... [Reid] wants to eliminate filibusters used to prevent debate on legislation from starting. He also wants to end filibusters to prevent the Senate from entering talks with the House. And he’d like to pare back the use of filibusters on certain presidential nominations, particularly district court judicial nominees. He’s also considering requiring 41 senators to vote to sustain a filibuster, a subtle shift from the current practice that requires 60 votes to break [one]. Several Republican senators were cool on that idea on Tuesday ... Reid has made one concession in the talks with McConnell. He’s ready to drop a far-reaching proposal from Sens. Jeff Merkley (D-Ore.), Tom Udall (D-N.M.) and Tom Harkin (D-Iowa): the 'talking filibuster,'..."
Senate Dems react positively to Reid's compromise proposals. HuffPost: "Reaction from some filibuster reform advocates, at least to the 41-vote option, was mostly positive. Merkley called it a 'step in a positive direction.' He said he would continue to advocate for reform that included the talking filibuster ... 'Sometimes you have to settle for the silver or bronze standard, but I’m still advocating for the gold standard,' Merkley said."
