Submitted by Conor Kenny on
By Congresspedia Assistant Managing Editor Avelino Maestas
Congress wrapped up the first term of its 110th session this week, finally passing a massive spending bill covering the federal budget for 2008 and sending an energy bill to the White House as well. Lawmakers also extended an alternative minimum tax exemption that will help millions of taxpayers. In addition, Congress gave Bush another blank check on Iraq war funding, appropriating $70 million.
While the road to a budget bill was marked with speed bumps and slippery conditions, the final, $555 billion product is far from uncontroversial. Between it and a defense spending bill (approved last month), more than 11,000 earmarks have been doled out by legislators. Many of the earmarks – allocations for special projects within a member’s district – were included at the last minute, and now President Bush has threatened to ignore or cancel some of them.
On Iraq, following months of tough talk on the part of Democratic leaders, Congress approved a $70 billion spending bill for the Iraq War. The money was attached to the spending bill, which Bush has indicated he will sign. One group estimates the cost of the Iraq and Afghanistan wars now tops $700 billion.
The Senate will have to wait until after the break to take up surveillance reform legislation, because Sen. Chris Dodd successfully fought a bill that would have given some telecom communities legal protection for helping the government intercept domestic communication without a warrant. Dodd slowed progress on the RESTORE Act, which reforms the Foreign Intelligence Surveillance Act of 1978.
President Bush signed the 2007 CLEAN Energy Act of 2007, raising fuel efficiency standards for carmakers for the first time in 30 years. The bill was weaker than one supported by the House, as the Senate was forced to keep a tax subsidy for oil and gas companies. Senators also stripped a renewable fuel standard, which required utility companies to provide a portion of their energy output from non-fossil fuel sources.
Finally, ignoring earlier promises to pay for tax cuts, the Democratic-controlled Congress approved a "fix" to the alternative minimum tax. Originally designed to make sure ultra-rich families paid at last some taxes, about 25 million tax payers are now eligible for the rule. The House on Wednesday approved the exemption, which the Senate had already adopted.
With Congress now on a month-long break for the holiday recess, look for committee schedules to return in mid-January. Also, stay tuned for our year-in-review post next week.
Printer-friendly version