The Leader's Ledger

Posted by Brian Patrick on

Good morning,

Yesterday, the House passed the Small Business Tax Cut to allow small businesses to keep more of their own money to grow and create jobs. At a time when Americans are facing high gas prices, high taxes, and slow job growth, the House Republicans are doing everything we can to reduce barriers to job creation and economic growth, starting with the small businesses that are the engines of job creation. As Leader Cantor said yesterday, “Tax policies should encourage economic growth, investment and job creation – not stifle it. We need to stop and think about what kind of country we want to be: and do we want to be one with lower taxes, more growth and more jobs? Or do we want to be one of more government control and fewer opportunities?” House Republicans will continue to take steps to get the economy back on track, so more Americans can get back to work and have the opportunity to succeed.

Today In History: In 1841, Edgar Allen Poe's story, The Murders in the Rue Morgue, first appears in Graham's Lady's and Gentleman's Magazine. The tale is generally considered to be the first detective story.

Birthdays: Rep. Dan Benishek, Fenway Park, Miranda Kerr, George Takei, Carmen Electra, John Paul Stevens, and Don Mattingly

Here is what’s in today’s Ledger …

State Of Play: House Passes Cantor’s 20% Small Business Tax Cut In A Bipartisan Vote Of 235-173

Speaker Boehner: The 20% Small Business Tax Cut Empowers Small Business To Make Decisions On Expanding Their Business and Hiring More Employees. House Speaker John Boehner said the cut takes “the opposite approach of the stimulus” by empowering employers to make decisions on how more of their hard-earned money is spent. … “This week, Democratic leaders in the Senate demonstrated their desire to continue the spending binge that’s hurting our economy by punting on a budget for the third straight year,” Boehner, R-Ohio, stated. “With millions of Americans still asking, ‘Where are the jobs?, I hope the president and Senate Democrats will relent and work with Republicans to find common ground so we can help the private sector put people back to work.” ABC News

Leader Cantor: Plain and Simple, The 20% Small Business Tax Cut Puts More Money In The Hands Of Small Business Owners So They Can Invest, Grow, and Create Jobs. House Majority Leader Eric Cantor's proposal to give businesses a 20 percent tax deduction won approval Thursday in the U.S. House of Representatives, though its future is uncertain with the warning of a possible veto from the White House. It passed the Republican-dominated House 235-173. … Cantor's plan would apply to businesses with fewer than 500 employees, regardless of how they are organized … He argues that his bill will help small businesses create jobs, and it has gained support among companies in Cantor's district as well as from business executive Steve Forbes, who on Wednesday threw his support behind the plan. "Our bill puts more money into the hands of small-business owners so they can reinvest those funds to retain and create more jobs and grow their businesses, plain and simple," Cantor said on the House floor Thursday. Richmond Times-Dispatch

Chairman Dave Camp Issues A Stark Reminder: Small Businesses Are Hurting Because Of President Obama’s Failed Economic Agenda. "We should not be picking winners and losers," he said. "The fact is, small businesses are hurting because of the failed policies of the Obama administration." CBS News

The 20% Small Business Tax Cut “Draws An Increasingly Clear and Critical Distinction” Between Republicans and Democrats and Their Approaches To Pro-Growth Tax Reform. “Our bill puts more money into the hands of small business owners so they can reinvest those funds to retain and create more jobs and grow their businesses – plain and simple,” House Majority Leader Eric Cantor said during his remarks on the floor. … Coming one day after the tax deadline, Thursday’s vote draws an increasingly clear and critical distinction between the two parties’ plans for tax reform during this election year. Thursday’s vote essentially foils the Senate’s failed attempt to pass a so-called “Buffett Rule” measure earlier this week, which would have raised taxes on individuals making more than a million dollars a year. The Washington Post


The Road Ahead: More Democrats Begin To Align With GOP, Against President Obama On Keystone

President Obama Is Finding Himself “Boxed In” On Keystone By Republicans and Members Of His Own Party. President Obama is finding himself increasingly boxed in on the Keystone pipeline fight as more Congressional Democrats are joining Republicans in backing the project, which has strong labor support and could generate significant numbers of jobs in economically hard-hit states. On Wednesday, the House passed a short-term transportation bill that included a provision that would pave the way for the construction of the next stage of the oil pipeline, a measure that Mr. Obama has said he would veto. The bill passed 293 to 127, with 69 Democrats supporting it. … Democrats like Senator Bob Casey of Pennsylvania say they would support a highway bill with a Keystone pipeline provision. “I would vote for it, yes,” Mr. Casey said. Democrats beyond Washington — including those who run unions, build pipeline parts and run cities or states — have also been big supporters of the project. “Cool down, cowgirl,” said Gov. Brian Schweitzer, Democrat of Montana, when told about the current situation in Congress. “I am a very large advocate of Keystone, and it disgusts me that instead of solving the issue, the people in Washington just fight.” The New York Times

Obama Faces Dem Pressure Over Keystone Pipeline. President Obama is still facing pressure over the proposed Keystone oil pipeline from Canada to Texas -- and now some of it is coming from fellow Democrats. This week the Republican-run Housed passed a transportation bill that includes a provision requiring approval of the pipeline, with 69 Democrats joining in a 293-127 vote. … "The president is becoming increasingly isolated in his opposition to this job-creating energy project," said House Speaker John Boehner, R-Ohio. "He should listen to the voices of the American people and unlock the project so we can get Americans working and address high gas prices." Boehner and the Republicans have used the issue to attack Obama on two fronts: Jobs and high gas prices. USA Today


ObamaCare Update: It’s So Unpopular Even Democrats Regret It …

A Growing Number Of Democrats Are Expressing Buyer’s Remorse Over ObamaCare. An increasing number of Democrats are taking potshots at President Obama’s healthcare law ahead of a Supreme Court decision that could overturn it. The public grievances have come from centrists and liberals and reflect rising anxiety ahead of November’s elections. “I think we would all have been better off — President Obama politically, Democrats in Congress politically, and the nation would have been better off — if we had dealt first with the financial system and the other related economic issues and then come back to healthcare,” said Rep. Brad Miller (D-N.C.), who is retiring at the end of this Congress. Miller, who voted for the law, said the administration wasted time and political capital on healthcare reform, resulting in lingering economic problems that will continue to plague Obama’s reelection chances in 2012. The Hill

• Rep. Dennis Cardoza (D-Calif.) also criticized his party’s handling of the issue, and said he repeatedly called on his leaders to figure out how they were going to pay for the bill, and then figure out what they could afford.

• The most recent wave of misgivings from Democrats began with Rep. Barney Frank (D-Mass.), who told New York magazine that Democrats “paid a terrible price for healthcare.” Frank said Obama had erred in pushing the legislation after GOP Sen. Scott Brown’s January 2010 victory in Massachusetts, which took away the Senate Democrats’ 60th vote.

• … Sen. Jim Webb (D-Va.), who this week predicted the law will be Obama’s “biggest downside” heading into the November elections. Such members can afford to be more candid in speaking their minds without offending their leadership, but are also likely to reflect the feelings of other lawmakers in the House and Senate.

• “It did hurt us, there’s no doubt about it. The climate out there was really ugly because of it,” said Rep. Norm Dicks (D-Wash.), who is also retiring at the end of this Congress.


Keeping Tabs

Cantor Shows His Social Media, Tech Side. House Majority Leader Eric Cantor, R-Va., showed his tech geek side Thursday morning at Politico’s Playbook breakfast, chatting about his iPad preferences and his use of social media to involve ordinary Americans in the legislative process, among other things. Cantor quipped that he’s a fan of the Sudoku app for the iPad and that he uses the gadget for everything from official business such as reading staff briefings to reading publications such as Politico and his hometown newspaper The Richmond Times-Dispatch. “This is an unbelievable tool that we have before us,” Cantor said about his iPad. Red Alert Politics





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