Capital Roundup
Apr 1, 2010
| BILL NAME | SUMMARY OF BILL AND WHAT IT MEANS TO YOU | U.S. CHAMBER'S POSITION | STATUS |
|---|---|---|---|
| HEALTH CARE H.R. 3590 Patient Protection and Affordable Care Act |
This bill, projected to cost nearly $1 trillion over 10 years, levies more than $500 billion in new taxes on consumers and businesses, creates insurance exchanges for individuals and small businesses, and expands Medicaid while subsidizing lower-wage Americans. Firms with more than 50 workers have to offer government-approved coverage or pay a fine. The bill also cuts Medicare spending, taxes high-value insurance plans, and raises Medicare payroll taxes. | The Chamber strongly supports health care reform but opposes H.R. 3590 and a separate package of amendments because they would make health care more expensive, create onerous new burdens for businesses, hamper economic recovery, and implement a vast array of unwarranted new taxes. |
Last Action Signed by the president March 23, 2010. |
| CLIMATE CHANGE S. J. Res. 26 H.J. Res. 76 Congressional Review Act Joint Resolutions of Disapproval |
These resolutions would reject an EPA finding that greenhouse gases endanger human health and welfare and therefore should be regulated by the EPA under the auspices of the Clean Air Act (CAA). EPA said that it plans to use CAA to regulate all emitters, large and small. EPA regulation of greenhouse gases could impose federal permitting requirements on millions of businesses, restrict fuel choices and energy use, and require expensive installation of new equipment for businesses of all sizes, including small businesses. The resolutions would halt EPA’s eff orts to expand the CAA beyond its intended boundaries. | The Chamber strongly supports both resolutions. It remains supportive of passing climate change legislation this year and believes that these resolutions will give Congress the time it needs to get this important issue right. |
Last Action |
| TOURISM PROMOTION H.R. 1299 Travel Promotion Act of 2009 |
The Travel Promotion Act will help increase overseas travel to the United States by creating a private-public partnership without any U.S. taxpayer funds to communicate changes to U.S. travel policies and to promote the United States as a travel destination abroad. The initiative is funded through a matching program featuring up to $100 million in private sector contributions and a nominal fee on foreign travelers who do not pay for a visa to enter the United States. | The Chamber strongly supports this legislation because it will help the United States inform and compete for visitors in an increasingly competitive global marketplace. |
Last Action |
| TAXES H.R. 4213 Tax Extenders Act of 2009 |
Th is bill would extend expired pro-growth tax provisions, including the research and experimentation (R&E) tax credit. It would also allow companies to accelerate the use of alternative minimum tax (AMT) credits to create and maintain U.S. jobs and stimulate new investment in American plants and equipment. The bill, however, would eliminate the tax credit for alternative fuel use and require a transaction to have an economic purpose other than reducing tax liability. |
The Chamber supports provisions of the bill that would encourage job growth and economic recovery but opposes provisions to raise taxes on businesses. | Last Action Passed the Senate March 10, 2010. Next Step House Vote |
| ENERGY Home Star Act of 2010 |
This bill would establish a $6 billion rebate program to encourage immediate investment in energy efficient appliances, building mechanical systems and insulation, and whole-home energy efficiency retrofits. | The Chamber recommends limited do-it-yourself rebates for insulation and Tier III energy efficient appliances, among other ideas for improving the bill. All told, however, the Home Star Act discussion draft provides a solid framework for a worthwhile, incentive-based program to create American jobs while saving energy. | Last Action Discussion draft introduced March 10, 2010. Next Step Bill Introduced |
