Washington Week Ahead: Buffett, Budget, and Farm Bill

WASHINGTON, April 15 – Just as millions of hardworking Americans are trying to finish up their tax returns in time for the April 17 filing deadline, the House and Senate return from their two-week recess to debate tax reform proposals.

President Obama is leveraging the tax deadline to raise awareness that not everyone pays their fair share of taxes and push for what he calls the “Buffett rule” proposal. Omaha billionaire investor Warren Buffett has frequently lamented that he pays a lower rate on his earnings from dividends and investments than his secretary, who pays taxes on wages earned.

The Senate is scheduled to tee up a procedural vote on the Buffett rule on Monday afternoon. The bill would require individuals with an adjusted gross income over $1 million and married individuals filing separately with an adjusted gross income over $500,000, to pay a 30 percent minimum tax rate.

GOP critics point out that the politically-charged measure, which would generate about $47 billion, is more about election-year politics than substance and should be considered as part of a much larger package of tax reform.

House Democrats are expected to offer some of the same criticism when House leaders push for a small business tax reform message later in the week. House GOP leaders will push legislation that would cut small business taxes by 20 percent, a measure they say will boost job creation.

In the midst of the tax debate and election-year posturing, Sen. Kent Conrad, D-ND, is expected to start marking up a new budget plan in the Senate Budget Committee this week. GOP lawmakers have been consistently pointing to the fact that this is the third consecutive year that Senate Democrats have gone without passing a budget resolution, as required by law.

The North Dakota Democrat, who has earned a reputation as a budget hawk, disagrees. He maintained that Congress passed the Budget Control Act last summer which stands in place of a budget resolution.

“I am glad that the Chairman is moving forward with this mandatory process despite the apparent wishes of his leadership,” noted Jeff Sessions, R-AL, ranking minority member of the Senate Budget Committee. “ But the great question before us now is whether Majority Leader Reid will reverse his unconscionable stance that no budget – even his Chairman’s - should receive consideration on the Senate floor.”

Both the House and Senate Agriculture Committees will be working on different aspects of the 2012 Farm Bill.

On the Senate side, staff members have been working to put the finishing touches on all of the 2012 Farm Bill titles, in preparation for review by their respective Senators. Depending on how that review goes, and whether or not there is consensus on the commodity title, final language could be released later this week. The tentative date for marking up the bill is April 25.

The House Agriculture Committee scheduled a vote for April 18 on a package of policy changes to current U.S. farm law to satisfy its reconciliation directive under the House passed FY 2013 budget resolution.

Agriculture is one of six authorizing committees instructed to modify policies and programs under their jurisdiction to produce savings totalling $18 billion in 2013 and $261 billion over 10 years.

For other hearings and events this week:

Monday, April 16

Secretary Vilsack will speak at the North American Ag Journalists Luncheon in Washington, DC

4:00 p.m., House Energy and Commerce Subcommittee on Energy and Power Markup of “H.R. __, the Gasoline Regulations Act of 2012, and H.R. __, the Strategic Energy Production Act of 2012”

Tuesday, April 17

Secretary Vilsack will join Education Secretary Arne Duncan at the White House Rural Education Summit in Arlington, VA

Deputy Secretary Merrigan will hold a farm-to-school event near Annapolis, MD

Conference to Examine Economics of Environmental Services at Resources for the Future, 1616 P St. NW, Washington, D.C.

10:00 a.m., House Committee on Energy and Commerce | Subcommittee on Energy and Power,  Markup: Gasoline Regulations Act of 2012 and Strategic Energy Production Act of 2012, 2123 Rayburn HOB

10:00 a.m., House Committee on Science, Space, and Technology | Full Committee, Hearing: Tapping America's Unconventional Oil Resources for Job Creation and Affordable Domestic Energy: Technology and Policy Pathways, 2318 Rayburn HOB

10:00 a.m., House Joint Economic Committee | Full Committee, Hearing: How the Taxation of Capital Affects Growth and Employment, 216 Hart Senate Office Building

10:00 a.m., House Committee On The Budget | Full Committee, Hearing: Strengthening the Safety Net, 210 Cannon HOB

2:00 p.m., House Committee on Natural Resources | Subcommittee on Water and Power, Hearing: Legislative Hearing on H.R. 460 and H.R. 2664, 1324 Longworth House Office Building

2:00 p.m., House Committee on Foreign Affairs | Subcommittee on Africa, Global Health, and Human Rights, Hearing: The Increasing American Jobs Through Greater Exports to Africa Act, 2172 Rayburn HOB

Wednesday, April 18

Secretary Vilsack will host an event on creating jobs through the biobased economy, in Madison,WI. In the afternoon, he will be joined by Education Secretary Duncan at Pioneer Farm in Platteville, Wis. where they will hold a White House Rural Council event at University of Wisconsin—Platteville followed by a press availability (open press).

Conference to Examine Economics of Environmental Services at Resources for the Future, 1616 P St. NW, Washington, D.C.

National Cattlemen’s Beef Association (NCBA)  Legislative Conference, The Dupont Circle Hotel 1500 New Hampshire Avenue N.W. Washington D.C.

9:30 a.m., House Committee on Appropriations | Energy and Water Development, and Related Agencies, Markup: Subcommittee Mark Up - FY 2013 Energy and Water Appropriations Bill, 2362-B Rayburn

10:00 a.m., House Committee on Transportation and Infrastructure | Subcommittee on Water Resources and Environment, Hearing: How Reliability of the Inland Waterway System Impacts Economic Competitiveness, 2167 Rayburn HOB

10:15 a.m., House Committee on Energy and Commerce | Subcommittee on Health, Hearing: FDA User Fees 2012: How Innovation Helps Patients and Jobs, 2123 Rayburn HOB

11:15 a.m., House Committee on the Judiciary | Subcommittee on Immigration Policy and Enforcement, Hearing: Document Fraud in Employment Authorization: How an E-Verify Requirement Can Help, 2141 Rayburn HOB

2:00 p.m., House Committee on Homeland Security | Subcommittee on Transportation Security, Hearing: Building Secure Partnerships in Travel, Commerce, and Trade with the Asia-Pacific Region, 311 Cannon HOB

Thursday, April 19

Secretary Vilsack will join Education Secretary Duncan for a White House Rural Council event in Waterloo, IA

Secretary Vilsack will give a speech on the Obama administration’s record on agriculture and rural America in Cedar Rapids, IA

Deputy Secretary Merrigan will speak at the 22^nd Annual Office of Small and Disadvantaged Business Utilization meeting in Washington, DC  

Deputy Secretary Merrigan will speak at 2^nd Annual National Women in Agriculture Association Symposium in Tuskegee, AL  

NCBA Legislative Conference, The Dupont Circle Hotel 1500 New Hampshire Avenue N.W. Washington D.C.

9:30 a.m., Host: Committee on Transportation and Infrastructure | Subcommittees on Investigation and Oversight and Energy and Environment, Hearing: Joint Hearing-Impact of Tax Policies on the Commercial Application of Renewable Energy Technology, 2318 Rayburn HOB

Friday, April 20

Secretary Vilsack will host an event on creating jobs through the biobased economy, Des Moines, IA  

Deputy Secretary Merrigan will speak at the National Good Food Network Food Hub Collaboration on the release of the new Food Hub Resource Guide in Chicago, IL

10:00 a.m., House Committee on Agriculture | Full Committee, Field Hearing: Farm Bill, Magouirk Conference Center 4100 W. Comanche Dodge City, KS 67801

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