Senate Analysis:
After 7 weeks of working on the Small Business bill, Senator Reid is finally moving on to other items – like taxing oil companies via the Close Big Oil Tax Loopholes Act (S. 940). This is a clear attempt on the part of the Democrats to punish oil companies, even though they know that taxing them won’t lower gas prices one penny.
Senate Floor Action:
- Vote on nominee Susan Carney to be U.S. Circuit Judge for the 2nd Circuit
- S. 940 – Close Big Oil Tax Loopholes Act
Senate Committee Action:
- The Senate Foreign Relations Committee will hold a hearing on the “Strategic Implications of Pakistan”
- The Senate Energy and Natural Resources Committee will hold a hearing on “Oil and Gas Development”
- The Senate Homeland Security and Governmental Affairs Subcommittee on Federal Financial Management will hold a hearing on the “Postal Service Financial Crisis”
The House is in recess this week.