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Author: Christy Gullion

CBO Releases Long Term Budget Outlook

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In its annual long term budget outlook released June 5, CBO projects that by the end of 2012, federal debt held by the public will exceed 70 percent of GDP, a dramatic increase from the end of 2008 when federal debt equaled 40 percent of the nation’s annual economic output. CBO attributes the sharp rise in debt partly to lower tax revenues and higher federal spending caused by the severe economic downturn and from policies enacted during the past few years, but notes “the growing debt also reflects an imbalance between spending and revenues that predated the recession.”

Read more about the report on the Association of American Medical Colleges (AAMC) web site.

Labor-HHS-Education Appropriations

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House appropriators say the traditionally controversial Labor-HHS-Education appropriations measure could move forward in committee in June. Labor-HHS-Education Subcommittee Chairman Denny Rehberg (R-MT) said Thursday that he would like to unveil his measure when the House returns from its recess the week of June 18th. Last year, the measure was not marked up by the House committee and was eventually rolled into a year-end omnibus measure. So far this year, House appropriators have moved 10 measures, leaving only the Labor-HHS-Education and Interior-Environment spending bills to be released.

The Senate has scheduled the mark up of their Labor-HHS-Education bill for June 12th.

Source:  CQRollCall.com

Today in Congress

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The Senate’s in at 9:30am and is expected to hold a key procedural vote on the farm bill at 10:30am. The House is in at 10:00am with first votes expected between 1:30—2:30pm and last votes expected between 10:00—11:00pm. The House is set to repeal parts of the health care act, including the medical device tax. It will also continue consideration of the Homeland Security appropriations bill, and vote on a motion to instruct conferees on the highway bill. The House Transportation-HUD Appropriations Subcommittee marks up its FY2013 spending bill.

DOD Biofuels Efforts Threatened

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The House is also slated to vote on a defense authorization bill (HR 4310), which has a small provision with big implications for future transportation fuels. The Defense Department has been developing advanced biofuels for its ships and planes, helping make a market along with other federal agencies. The DOD’s goal is to curb dependence on oil products, provide reliable home-grown motor fuels with less wild price swings than oil, and perhaps ultimately deploy biofuel facilities that could shrink fuel tanker convoys that make inviting targets for adversaries. Commercial ship lines, railroads, airlines and other motor fuel users are watching, partly because biodiesel and jet fuel could help trim their emissions and partly in hopes of getting fuels with less volatile costs. House conservatives don’t like the DOD paying for alternative fuels when oil-derived fuels may be cheaper, and the authorizing bill would exempt the DOD from the alternatives program. That could cripple the effort since the DOD is the world’s largest buyer of oil fuels and its fleets are key to developing new-era fuel options.

Source:  CQRollCall.com

This Week in Congress

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The House starts its workweek considering several measures under suspension of the rules, including — coinciding with National Police Week — the National Blue Alert Act, which aims to help reduce the threat of violence against law enforcement officers.

Later in the week, the House takes up a bill that would reauthorize the Violence Against Women Act (VAWA). The chamber also considers the FY2013 defense authorization.

The Senate resumes consideration of a House reauthorization of the Export-Import Bank. The measure stalled last week in a dispute about offering amendments.

Appropriators in both chambers continue work on FY2013 spending bills. The House Appropriations Committee marks up Homeland Security and Military Construction-VA draft spending bills.