Economy & Budget

Even in Washington, miracles can happen. For the first time since 2009, the Democrat-led Senate Budget Committee actually met to discuss their budget proposal, and it is scheduled to be debated. But not all talk is cheap. The Senate budget would increase spending by $265 billion and increase taxes by $923 billion – and their budget never balances. When looking at this proposal, it’s clear that we’ve yet to see leadership from the Democrats in the Senate or President Obama. Last year, the president’s budget didn’t receive one single vote of support in the House or Senate, which could be why he’s yet to submit his budget blueprint to Congress.

When the U.S. tax code was last overhauled, the Soviet Union still existed, the Internet was almost unknown, and a cell phone was the size of a dust buster.  In the nearly 30 years since, the energy tax framework has become a complicated patchwork of technology-specific benefits, with their size, scope, and duration varying wildly. In energy, as elsewhere, the current tax code is confusing, wasteful, and not geared to achieving results.

In his State of the Union speech President Obama talked about “smart savings” instead of “reckless cuts” and “smarter government” rather than “bigger government.”  For the last two years, a proposal has been under review by the White House Office of Management and Budget (OMB) that, if modified, could become an example for the administration of “smart regulation” as opposed to overregulation or ineffective regulation.

As a conservative I know that, as Justice Oliver Wendell Holmes once wrote, “The power to tax is the power to destroy.” As a former local elected official, I also know that tax revenues need to come from somewhere, and that they should be levied on as fair a basis as possible.

It’s a delicate balance, one that does not come easily. Government must be responsible in its spending and should not abuse its authority to effect change in the marketplace, whether through its taxing authority or its ability to impose regulations. There are times when new businesses or new technologies may be given a break until they are established, but those breaks should be temporary rather than permanent.

For the past 40 years, America’s farming and ranching heritage has been officially recognized on National Agriculture Day, which this year falls on Tuesday, March 19. Across the country, farmers, ranchers and agriculture groups use this moment-in-time to bring others – many of whom may have never stepped one foot on a farm or ranch – closer to the work they do to produce food for our nation. Here in Washington, D.C., the Ag Day experience has been a long-standing tradition of farmers and ranchers meeting with their representatives in Congress to share information about the vital role of American agriculture.

When President Obama met last week with key GOP senators to discuss the financial future for America they had dinner in a restaurant. Just like millions of Americans all across this country do every day. For centuries, business deals, political decisions and family milestones have been made and celebrated sharing a meal, because you can have an actual conversation in a restaurant. Instead of lobbing sound bites at each other through the media, some issues need to be discussed.

It’s budget week in Washington – the nerd’s version of the Super Bowl – when the House and Senate compete over what gets funded, what does not, how much the taxpayer will be on the hook to pay, and – most importantly at this moment – how the dangerous debt explosion will be restrained and reduced. This year, the matchup shows sharply divergent choices, as yesterday the Senate Democrats unveiled a dangerous mix of budget gimmicks that disguise greater spending, higher taxes, and more debt – a painfully unbalanced approach.

With the enactment of the “sequestration” spending cuts, the latest manufactured crisis has come and gone – with those on the side of sensible fiscal policy in the losers’ column. With only a few short weeks until the next self-induced crisis – the expiration of the Continuing Resolution – now is the perfect time for our leaders in Washington to get serious about addressing our fiscal problems, before the pressure of another deadline leads both parties back to finger-pointing and name-calling.

I am encouraged to see evidence that our leaders may, in fact, be heading in the right direction this time. With reports that the White House has been speaking with Senate Republicans and Democrats about the possibility of coming together, there seems to be hope that this time, finally, they may get it right.

The head of the United States Copyright Office has suggested that it may be time to start considering “the next great Copyright Act.” The last general revision to U.S. copyright law passed in 1976 at the end of a process that took over twenty years. Looking back, that time may seem like a completely different world. Since then, incredible technological advances and an ever-shrinking world have brought new opportunities and challenges. Copyright law has not been immune to these developments.

For several years, the prevailing narrative across the country is that our nation’s Capital has gone from bad to impossible, with each side willing to cut off its nose to spite the other’s face. But after spending time recently with congressional leaders and the president, the tech sector sees reason for cautious optimism that progress is possible. In our discussions last week, there were encouraging signs that both parties recognize the magnitude of the challenges facing the country and are willing to take the first tentative steps toward solutions that advance our national interest.