It looks like the Democrats will introduce the mother of all budget bills by lumping together all the appropriations bills they had failed to pass for fiscal year 2011, which began on October 1. The omnibus package costs $1.1 trillion. Democrats had ducked funding the government all year, fearing the backlash from spending-conscious voters. The government is currently running on a stopgap expenditure that expires Dec. 2. Senate Minority Leader Mitch McConnell (R-KY) has announced his opposition.
Senate Majority Leader Harry Reid (D-NV) will once again try to slip energy legislation through the Senate under a new name: the Promoting Natural Gas and Electric Vehicles Act of 2010. The bill is nothing but pork, including $4.5 billion in tax incentives for purchasing automobiles powered by natural gas or electricity and subsidies for the production of such vehicles. Another $1.5 billion is thrown in for further research and development in this area. How will the government pay for it? It will all be “paid for” by tripling the Oil Spill Liability Trust Fund tax. The tax will mean even less oil exploration in U.S. territory and higher gas prices for consumers. Numerous economic and scientific studies have revealed that there is not, nor will there be, any real demand for these vehicles over the next decade. If there were demand, there would be no need for federal subsidies. Reid continues to through good money after bad in order to please his favorite lobbyists.
Filed under: Economy, Government, Politics | Tagged: Democratic Party (United States), Democrats, Economy, Global Warming, Government, Harry Reid, Health Care, Kentucky, Mitch McConnell, News, Party leaders of the United States Senate, Politics, Republican, White House |