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OVERNIGHT MONEY: Hearings continue on GSA scandal
TUESDAY'S BIG STORY:
No more words: Hopefully lawmakers won't have to call in a mind reader on Tuesday to convince General Services Administration (GSA) officials to cough up details about their lavish spending at a Las Vegas conference.
During the first day of hearings, Jeff Neely, the GSA official at the center of the scandal, opted to invoke the Fifth Amendment on pretty much every question asked by lawmakers on the House Overnight and Government Reform Committee.
The House Transportation and Infrastructure Committee will take another stab on Tuesday at GSA officials to see if they are willing to detail the who, what, where, why and how the agency spent more than $822,000 on a fancy Las Vegas conference complete with a mind reader, spreads of catered food and expensive team-building activities.
A report issued by the GSA inspector general released earlier this month detailed the spending, which led to the resignation of GSA's Administrator Martha Johnson and brought immediate rebukes of the spending from Capitol Hill from both parties and the White House.
On Tuesday, Neely and Johnson will be back to testify along with Acting GSA Administrator Daniel Tangherlini, GSA Inspector General Brian Miller and and David Foley, deputy commissioner of the GSA's Public Buildings Service, among others.
On Monday, Johnson and Foley spent the majority of their time repeatedly apologizing for the scandal that occurred under their watch.
Miller said that while his office was able to issue the report without political interference, he urged more to be done to protect tax dollars.
"While a private business may use its profits to reward employees in a lavish fashion, a government agency may not," he said.
Rep. Elijah Cummings (Md.), senior Democrat on the Oversight committee, didn't hold back his disdain.
"I do not support granting Mr. Neely immunity at this time," Cummings said.
The grilling continues on Wednesday at panels headed by Sens. Barbara Boxer (D-Calif.), head of the Environment and Public Works Committee, and Dick Durbin (D-Ill.), chairman of the Senate Appropriations subcommittee on Financial Services.
"The outrageous misconduct described in the IG report by a few GSA employees follows no less than three other major scandals at GSA spanning four decades and involving three presidential administrations," Boxer said Monday.
“It is really sad that the good people at GSA who work hard every day to fulfill their mission have been overshadowed by a few bad employees who abused the public trust and misspent hundreds of thousands of dollars,” she said.
WHAT ELSE TO WATCH FOR
EX-IM chat: The Senate Banking Committee will open its doors to a number of industry representatives Tuesday for a friendly chat about the Export-Import Bank. The bank's authorization is set to expire at the end of May, and getting it reauthorized is shaping up to be a big political fight, as conservatives are harshly critical of a program they see as doling out government subsidies. Business executives representing a range of business groups, including the U.S. Chamber of Commerce and the National Association of Manufacturers, will testify to offer a different take.
Two cents: A House Financial Services subcommittee will spend Tuesday talking about common cents. Specifically, lawmakers will be discussing what role coins have in the future of the nation's money supply. Canada announced recently that it is ditching the penny, leading to questions about whether the United States will follow suit regarding the copper Lincoln.
Dynamic duo: The International Monetary Fund and World Bank will join forces tomorrow, as the two start off their 2012 spring meeting. With the European debt crisis still percolating, and the U.S. economic recovery still chugging along slowly and not so surely, the take from the global groups will garner attention.
Catch me when I fall: The House Budget Committee has a Tuesday hearing on how Congress could go about strengthening the nation's safety net, even as Washington looks for ways to whip the budget into shape. A number of budget experts are set to testify.
Mark it up: A pair of Senate Appropriations subcommittees are set to mark up their respective spending bills tomorrow — the subcommittees on Commerce, Justice, Science and Transportation will each be hashing out legislation, a day ahead of a Senate Budget panel markup of a fiscal 2013 budget blueprint.
All about taxes: The House Ways and Means Committee will meet to discuss tax reform and tax-favored retirement accounts with a group of experts including Jack VanDerhei, research director of the Employee Benefit Research Institute; Judy Miller, chief of actuarial issues and director of retirement policy at the American Society of Pension Professionals and Actuaries; and David John, senior research fellow in retirement security and financial institutions at The Heritage Foundation.
On to taxes and jobs: The Joint Economic Committee will take on the topic of how taxes affect economic growth and employment with Kevin Hassett, senior fellow and director of economic policy studies at the American Enterprise Institute, and and Jane Gravelle, senior specialist in the Congressional Research Service's Government and Finance Division.
Heading south: Secretary of State Hillary Clinton is in Brazil for the U.S.-Brazil Global Partnership meetings and will meet with Brazilian President Dilma Roussef as the two nations discuss improving their economic and trade ties.
Let's hear it for Tax Day: While the Tea Party might have used Tax Day 2009 as a springboard, folks on the left side of the ideological spectrum are trying to do the same in 2012. A group that was once loud and raucous on Tax Day will be drowned out by a different call this year.
In an effort led by the AFL-CIO, several protests will take place around the country in opposition to the tax breaks afforded the 1 percent of income earners and corporations. In Washington, that includes a rally outside the of office of Grover Norquist, head of Americans for Tax Reform, calling on lawmakers to reject Norquist’s anti-tax "pledge to protect the 1 percent" and advocate for proper funding for Medicare and Social Security, not tax cuts for millionaires.
BREAKING NEWS
Waiting in the Buffett line: Senate Democrats might have lost their first crack at moving forward on the so-called "Buffett Rule" on Monday — the vote was taking place at press time — but the issue is taking center stage for the election season. Democrats expected to fall short of the 60 votes they needed to begin debate on the legislation, but lawmakers on both sides of the aisle suggested they were comfortable having an extended debate on the policy, which would raise rates for relatively small pool of taxpayers making more than $1 million a year.
Related stories:
McConnell: Obama is 'misleading' the public with the 'Buffett Rule
U.S. Chamber of Commerce to score 'Buffett Rule' vote
Top Democrats defend urge support for 'Buffett Rule' ahead of vote
Budget time approacheth: The Senate Budget Committee on Monday moved to mark up the fiscal 2013 budget, renewing pressure from Republicans to bring the resolution up for a floor vote.
The budget panel announced it would hold a markup of the budget on Wednesday, even though Committee Chairman Kent Conrad (D-N.D.) has said a budget proposal for 2013 is unnecessary because the debt-limit law passed in August sets the discretionary spending limit at $1.047 trillion.
Senate Majority Leader Harry Reid (D-Nev.) has said he has no intention of bringing a budget resolution to the floor, arguing there is no reason to consider a plan.
World Bank chooses director: The World Bank on Monday picked Dartmouth College President Jim Yong Kim as its new director despite pressure to break the long-stranding precedent of awarding the job to an American.
President Obama nominated Kim to the post last month.
ECONOMIC INDICATORS
Industrial Production-Capacity Utilization: The Federal Reserve will release its report showing the physical output of the nation's factories, mines and utilities along with a measure of capacity utilization.
Housing Starts-Building Permits: The Commerce Department releases its report on the number of residential units under construction along with building permits, which allow work to start and are a forward-looking indicator of the sector's activity.
WHAT YOU MIGHT HAVE MISSED
— Retail sales rise in March despite high gas prices
— Romney tosses out details on fiscal proposals
— Builder confidence drops for the first time in seven months
— Survey: Uncertainty, gas prices slowing hiring by small business
— Barney Frank: Wall Street reform critics missing the mark
Catch us on Twitter: @VickoftheHill, @peteschroeder, @elwasson and @berniebecker3
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