December 11, 2014
No Crony Capitalism Blog
If Yogi Berra were in politics, he’d be going nuts right now, and not for the equivalent of back-to-back home runs by Maris and Mantle.
Congressional leaders are faced with another government shutdown. If they do not reach consensus on the 1,603 page, monstrous $1 trillion-plus spending package nicknamed “#CROmnibus” or some sort of Continuing Resolution to keep the government funded after midnight tonight, the government will be closed tomorrow.
Nobody really wants the government to shutdown, ever. Federal employees and American businesses deserve certainty that comes with government operating efficiently and effectively, and not being subject to the political whims of The White House.
Unfortunately, vast differences over public policy, and the nation’s fiscal policies coupled with strong-arm veto threats from the White House are political realities that over time have turned the traditional budget process of vetting 12 separate spending bills before October first into Congress’ last-minute, pre-holiday cram session on a trillion dollars of government spending.
The massive “#CROmnibus,” pork-laden budget package has something for everyone, of course, adding spending here and cutting some spending there to make it attractive for all.
Passing a gigantic spending-spree, however, at the eleventh hour, without much accountability and vetting isn’t the only fiscal problem vexing Capitol Hill. Last week, the House voted 378-46 for the “tax extenders package,” a critical piece of legislation that provides much needed fiscal relief to businesses and employers large and small.
Outgoing Senate Majority Leader Harry Reid has indicated he might not take up the tax breaks in the Senate before the end of the year. That’s outrageous, and not passing the tax break package holds hard working American families and businesses of all sizes hostage.
Almost blindly spend a trillion dollars, and waiver in the U.S. Senate on a favorable tax package, which helps entrepreneurs create jobs?
Stop the insanity.
The new Congress needs to take up an honest, annual budget process and tax code reform that delivers immediate, permanent, across-the-board tax relief post haste, because we all know as the famed Yankee catcher once said, “a nickel is not worth a dime anymore.”