| Jamie Dupree |
Legislative Xmas Tree Returns
While Senate Majority Leader Harry Reid stripped a bunch of legislative extras out of a jobs bill back in mid-February, he never said the various tax and special interest provisions were dead. And on Monday, they returned to the Senate floor.
Sen. Max Baucus (D-MT), Chairman of the Senate Finance Committee brought the "tax extenders" package back, giving no indication on the Senate floor as to whether certain special items like aid for poultry farmers in Arkansas had been kept in the plan or not.
But a little digging turned up the revised 269 page plan, and there it was, the same provisions dealing with a specific "poultry integrator" that declared bankruptcy in December of 2008.
For those who don't remember, that would be Pilgrim's Pride. This bill would give emergency loans to specific chicken farmers who lost out on contracts with that company - with Arkansas the likely destination of most of this $75 million provision.
Other interesting items include an exemption from the brand new PAYGO law, which requires that Congress Pay-as-you-go for new spending and tax cuts.
On page 268, it says nice and clearly that "Sections 201, 211, and 232 of this Act are designated as an emergency" - for those of you not familiar with that, it means the money just gets added on to the deficit.
Section 201 deals with the extension of unemployment insurance benefits - Section 211 is the COBRA health benefits extension.
Those two provisions should cost around $10 billion per month combined. This plan would extend them for ten months, meaning approximately $100 billion would be added to the deficit and not paid for.
The other provision is something new. Section 232 deals with "Extension of ARRA increase in FMAP."
ARRA is the Stimulus law. In that, there was a temporary increase in the "federal matching percentage" (FMAP) for Medicaid.
The plan was designed to help states pay the costs of swelling Medicaid rolls, while their budgets were being squeezed from lower amounts of tax revenues.
As usual, this stuff is written in Legislative Hieroglyphics. To me, it looks like this bill would extend the temporary FMAP increase for Medicaid for another 6 months, through the end of this year.
The original Stimulus FMAP plan was estimated to cost just over $86 billion for 30 months of expanded federal contributions, which averages to just under $3 billion per month.
So if this is adding on another six months, that would be about $17 billion.
That makes my back-of-the-envelope estimate of what would be exempted from the PAYGO law, about $117 billion in extended jobless and COBRA health benefits, plus Medicaid money for the states.
Of course, there is no official cost estimate available as yet for this bill, but maybe one will surface in coming days.
But a little digging turned up the revised 269 page plan, and there it was, the same provisions dealing with a specific "poultry integrator" that declared bankruptcy in December of 2008.
For those who don't remember, that would be Pilgrim's Pride. This bill would give emergency loans to specific chicken farmers who lost out on contracts with that company - with Arkansas the likely destination of most of this $75 million provision.
Other interesting items include an exemption from the brand new PAYGO law, which requires that Congress Pay-as-you-go for new spending and tax cuts.
On page 268, it says nice and clearly that "Sections 201, 211, and 232 of this Act are designated as an emergency" - for those of you not familiar with that, it means the money just gets added on to the deficit.
Section 201 deals with the extension of unemployment insurance benefits - Section 211 is the COBRA health benefits extension.
Those two provisions should cost around $10 billion per month combined. This plan would extend them for ten months, meaning approximately $100 billion would be added to the deficit and not paid for.
The other provision is something new. Section 232 deals with "Extension of ARRA increase in FMAP."
ARRA is the Stimulus law. In that, there was a temporary increase in the "federal matching percentage" (FMAP) for Medicaid.
The plan was designed to help states pay the costs of swelling Medicaid rolls, while their budgets were being squeezed from lower amounts of tax revenues.
As usual, this stuff is written in Legislative Hieroglyphics. To me, it looks like this bill would extend the temporary FMAP increase for Medicaid for another 6 months, through the end of this year.
The original Stimulus FMAP plan was estimated to cost just over $86 billion for 30 months of expanded federal contributions, which averages to just under $3 billion per month.
So if this is adding on another six months, that would be about $17 billion.
That makes my back-of-the-envelope estimate of what would be exempted from the PAYGO law, about $117 billion in extended jobless and COBRA health benefits, plus Medicaid money for the states.
Of course, there is no official cost estimate available as yet for this bill, but maybe one will surface in coming days.
advertisement
Current conditions for Dayton
Last Updated on Jul 31 2010, 9:56 am EDT
Humidity: 55%
Wind: SE 9.2
Pressure: 29.91
Forecast
advertisement
Marketplace
Shop for cars, find a dealer, and get the latest automotive news in our Local Car Buying Guide powered by AutoTrader.com
WHIO Radio features expert advice from our weekend hosts.
Dayton is not a dying city. Just ask us, we'll tell you.
Gift Cards 1/2 price: Buy valuable gift cards and certificates at half price every day! View them NOW!
WHIO Presents the Sean Hannity Freedom Concert August 7th, 2010. Lynyrd Skynyrd headlines at Kings Island.advertisement
Join Larry Hansgen for his 5th Annual Golf Marathon benefiting the MS Society. Find out how you can help.
Celebrate 75 years of WHIO Radio. Check out our historical vault for classic audio and pictures from the past 75 years.
From fast food to fine dining, find it all in our Local Business Directory .
WHIO Radio is Dayton's Official station for Fox News. We Report, You Decide.
Subscribe to the Dayton Daily News, and you'll always know about Miami Valley happenings!
Find out when your favorite WHIO-TV or CBS programs are airing. Get up-to-date program schedules.
A salute to beer. Past, present and future. Learn more.
