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Today’s Agenda

Today, Senator Lee will attend a breakfast hosted by the Aspen Institute. He will also meet with representatives of Enefit and the American Association for Homecare. 

From the Senator’s Desk

Courtesy of the Republican Policy Committee:

The White House released a “fact sheet” this morning on a Treasury budget proposal that attempts to expand and simplify Obamacare’s small business tax credit.  The proposal comes after a recent report from the Treasury’s Inspector General finding only 228,000 taxpayers claimed the credit as of May 2011 – far less than the 4 million some outside groups were claiming could receive the credit.

Implementation Failure

The IRS spent nearly $1 million in taxpayer funds to pay for 4 million postcards promoting the tax credit.  The mailings did not help.  The credit, like the President’s health care law itself, is bureaucratic and poorly constructed.  Republicans pointed that out more than a year ago that this credit was too complex to be of much assistance to small businesses.  Independent experts agree – the non-partisan Congressional Budget Office said before the law passed that only 12 percent of individuals with small business coverage would actually benefit from the credit.  The Treasury Inspector General reported that “there are multiple steps to calculate the Credit, and seven worksheets must be completed in association with claiming the Credit.”

Costs on Small Businesses

The President’s health care law’s small business tax credit is having a nonexistent effect on most small businesses.  The law is actually imposing new costs and burdensome regulations on businesses.

This week a Gallup survey found 48% of small businesses are not hiring because of the potential cost of health care, and 46% are not hiring because of concerns over government regulations – and both of these problems are due in large part to Obamacare.

The law imposes nearly $800 billion in higher taxes and dozens of new insurance mandates, each of which could raise premium costs by 1-3 percent.  An article in the New York Times highlighted the skyrocketing premium increases faced by small businesses, profiling small firms hit with premium increases of 20, 40, even 60 percent or more.

Another Failed Promise

The Administration is belatedly admitting that one part of the President’s health care law is bureaucratic, complicated, and harming small businesses.  It would be much better for the Administration to admit that the entire law is, as one analyst put it, “arguably the biggest impediment to hiring, particularly hiring of less skilled workers.”

From the Whip

The Senate will convene at 10:00am and will be in morning business for 1 hour. Following morning business, the Senate will resume consideration of S. 1813, the Highway bill.

As of now, there is no path forward on the Highway bill. Many amendments are filed but the Senate has yet to begin an amendment process.

Reminder - The amendment tree has been filled and cloture has been filed on the Reid amendment #1633. Under cloture rules, this vote will occur on Friday morning one hour after the Senate convenes. Cloture was also filed on executive calendar #366, Jesse M. Furman, of New York, to be United States District Judge for the Southern District of New York. If the cloture vote fails on the Reid amendment #1633, the Senate will immediately move to the cloture vote on the nomination.

As for the Payroll conference report agreement, the House has still not filed the paper work but it is expected to be filed soon. At the moment, it is still unclear when the House will vote. Regardless of when the House votes, it will take unanimous consent in the Senate for the payroll package to come to a vote without going through the cloture process. So, stay tuned for details.

On Twitter

SenMikeLee

President Obama's call for $1.9 trillion in tax hikes = #dropinthebucket of the $11 trillion in new debt he wants:

SenLeeComs

Obama's doormat: the U.S. Constitution http://thedc.com/wHLufO via @DailyCaller #Recessgate

SenLeePressSec

. @SenMikeLee is talking to the Utah #EnergySummit from his DC office http://pic.twitter.com/HDlyV860

SenLeeResearch

#Debt crisis in #Europe "now borders on quantum physics for its complexity": bit.ly/xAwMTx #deficit #BBA #strongBBA #tcot #tlot #euro

Around the Water Cooler

Nigerian underwear bomber gets life in prison

A federal judge ordered life in prison Thursday for a young Nigerian man who turned away from a privileged life and tried to blow up a packed international flight with a bomb concealed in his underwear.

Payroll tax deal heads to final House, Senate votes

A bipartisan group of congressional negotiators signed off on an agreement Thursday to extend the payroll tax cut and unemployment benefits while avoiding a fee cut for Medicare doctors for the rest of the year.

Looking Ahead

Tomorrow, Senator Lee will finish this week’s business in Washington before flying back in Utah to meet with constituents.