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Tag: Michigan Congressmen

Walberg Votes To Reduce Power Of Bureaucrats

By JGillman, Section News
Posted on Fri Aug 02, 2013 at 12:05:41 PM EST
Tags: Michigan Congressmen, HR 367, Republicans, Defund, Bureacracies, Tim Walberg (all tags)

OK, but will the US Senate pass, and then see it through for Obama's signature?

Via his official press release.

Washington, D.C. - Today Rep Walberg voted in favor of H.R. 367, the Regulations from the Executive in Need of Scrutiny (REINS) Act, to reform our nation's regulatory system. The REINS Act requires any rule or regulation with an economic impact of $100 million or more and identified by the White House's Office of Management and Budget as a `major regulation' to come before Congress for an up-or-down vote and signed by the President before taking effect.
"Last year, more than 50 regulations were implemented with an annual economic cost of more than $100 million each. The REINS Act allows Congress - not Washington bureaucrats - to determine if new major regulations that threaten job creation will go into effect and in doing so, protect jobs for hardworking taxpayers," commented Rep Walberg following the vote.

Will the president sign this?

No he won't.

Quit wasting yours' and our time Tim. Instead, Defund all those agencies and mandates that have more than that $100,000,000 impact.

Job done.

Right?

(1 comment) Comments >>

Upton & Camp Ready For This?

By JGillman, Section News
Posted on Sun Nov 06, 2011 at 12:04:35 AM EST
Tags: Carried Interest, Michigan Congressmen, Super Committee, Dave Camp, Fred Upton, Real Estate (all tags)

One of the tax increases that Obama is trying to push through as part of his 'jobs plan' is to tax the shares of profits earned by managers of successful investment funds - called "carried interest" - as income rather than capital gains. As his attempt to force the plan through the standard Congressional process has crashed and burned, its looking like the proposal will likely come before the 12-member debt reduction super committee.

NH Journal sums up why this is ridiculous here:

There is a clear reason for this, as carried interest differs substantially from a traditional salary. Under most agreements, the manager of the investment partnership receives no carried interest if the endeavor fails. The manager is also on the hook for returning the principal from the partners, regardless of his performance. Most workers in our economy do not have to return a significant portion of their salary if they do not accomplish what their colleagues and supervisors expect of them.

Now, considering Reps. Upton and Camp having seats on the super committee, well.. below ~

(2 comments, 478 words in story) Full Story