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Economy Archive

Unemployment Extension Vital for Long-Term Jobless | Commentary

Last December, House and Senate Republicans uniformly said they would not consider an unemployment insurance extension unless there was a bipartisan compromise that was fully paid for, contained some unspecified reforms to the program and created jobs. In early April, after three months of negotiations and numerous false starts, they got just that: The Senate finally approved a bipartisan bill that met every one of those demands, while paying benefits through the end of May.

Add Unemployment Extension to Tax or Highway Bills, Speaker Boehner | Commentary

Our economy is facing a long-term unemployment crisis, which new evidence suggests is made worse by the five-month expiration of federal unemployment benefits.

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Senate Democrats Begin Efforts to Amend Constitution

It’s been 22 years since the last amendment to the Constitution took effect, but Senate Democrats are hoping to alter the nation’s founding document once again.

A Constitutional Right to Incumbency? | Commentary

Imagine if, 20 years ago, Congress had passed a law limiting each car manufacturer or retailer to spending no more than a certain amount per year on research and development or expanding its operations. Large, established institutions like General Motors or Walmart might have done just fine. But startups like Tesla and Amazon.com would never have been able to make the capital-intensive investments to get off the ground, and consumers would have been worse off for it.

If it Ain't Broke, Don't Fix it: Grimm Situations May Occur | Commentary

Americans have a funny penchant for “fixin’ things that ain’t broke.” American voters, in particular, really like to “fix” things. We regularly vote elected officials out of office who are doing a fine job in favor of someone else who seems newer and shinier only to find later that we have chosen badly and have to live with the grim results.

Most Americans Agree on Patent Trolls and Keystone. Why Doesn't Government Act? | Commentary

Two critical economic issues that could easily be resolved through legislation — patent litigation and energy efficiency and supply — are needlessly damaging our nation. Anti-oil activists (as well as the Hollywood stars they attract) and patent trolls — lawyers who produce no economic value, yet extort billions from legitimate U.S. businesses — are displaying their uncanny ability to halt rational government action. Whether by drumming up star-studded support or papering Washington with cold hard cash, these special interest groups are persuading government leaders to kowtow to vocal minorities, rather than listen to the majority of voters and enact laws to help our nation.

National Maritime Day: Building on a Strong Past to Ensure a Vibrant Future | Commentary

By nature, we as Americans don’t think very much about how we receive the goods and services we need. And yet so much relies on water transportation — the nation’s safest and most environmentally friendly mode. American maritime helps deliver our bounty of agricultural products, coal that generates our electricity, and gas that fuels our vehicles, for example. This uniquely American industry is as deeply interwoven into the fabric of our country’s history as the U.S. flags that fly above the 40,000 vessels operating on our inland and coastal waterways. As President John Adams noted, “No group  . . .  did more for establishing our country than the American Merchant Seamen . . . [and] their record speaks eloquently of their devotion and sacrifices.” This proud service continues today and is helping make our nation safer, stronger and more secure.

Is Now the Time for Housing Finance Reform? Maybe Not | Commentary

With the Johnson-Crapo housing finance reform bill making its way through the Senate Banking Committee on a 13-9 vote, some may feel the time is finally right for housing finance reform. But a closer look at the dismal housing finance policy in the United States suggests that lawmakers have yet to learn from the mistakes of the past.

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Wasserman Schultz Savors 'Clean' Living and Cooking

“She came out of the house today with her hands full of food,” Sean Bartlett, a spokesman for Rep. Debbie Wasserman Schultz, said of an early morning car ride during which his boss attempted to ply her staff with bites of banana-packed this and cinnamon-spiked that.

The 'Vitter Amendment' Isn't Going Away | Commentary

I get it. My legislation to end Washington’s Obamacare exemption or subsidy doesn’t make me popular in Washington. But if you think it’s going away, I have news for you: There’s only one way to make that happen, and that’s to pass it.

Middle-Class Home Ownership Must Be a Bipartisan Priority | Commentary

In recent years, the dialogue on Capitol Hill has been dominated by a debate about the economic well-being of the middle class. Years of sluggish growth, widening inequality and a deep sense that the nation’s global economic leadership is slipping have rightfully focused the public, policymakers’ and media attention on middle-class economic concerns.

Social Media Innovations in Congress Add to Transparency and Accountability | Commentary

A member of Congress answering letters from constituents via YouTube, another staging a Facebook photo contest on the polluted waterways in his state and a senator candidly sharing on Twitter his recovery from a stroke. These were some of the outstanding practices which won the Congressional Management Foundation’s first Gold Mouse Awards for Social Media.

House Will Push Back Votes on More Permanent Tax Credits

The House, which passed one permanent extension of an expired business tax break, will delay any action on other so-called extenders until at least June following the demise this week of the Senate’s two-year tax break patch.

Republican Online Gambling Ban Sets a Dangerous Precedent for States' Rights | Commentary

Should lawmakers in Washington override state laws and impose their values on the states? Some members of Congress seem to think so, and they are trying to impose a retroactive federal ban on Internet gambling, including in three states that have already legalized the activity. Not only does the proposal trample states’ rights, it will fail to eliminate illegal online gambling while making consumers less safe online, eliminating millions of dollars in tax revenue for states, and favoring a special interest. It is also based on a blatant misrepresentation of existing law.

A Lesson in Fairness From My Mother | Commentary

When I consider issues in Washington, I regularly call on the wisdom and advice my mother gave Carl, my sister and me over the years. She taught us of hard work and persistence, she taught us of the sacrifices that mothers make for children and for our country, and she taught us of fairness.

Bringing Mobile Broadband to Rural Americans | Commentary

In 2012, Congress passed the Middle Class Tax Relief and Job Creation Act of 2012. One of its key goals was to ensure that American consumers get access to the spectrum they need. As the Federal Communications Commission finalizes its design for the Incentive Auction that will buy back 600 megahertz spectrum from broadcasters in order to sell it to providers of mobile broadband, members of Congress continue to express intense interest in the auction. Recent letters from both sides of the aisle encourage the FCC to conduct an auction equally open to all participants.

C-J-S Bill Advances After Democratic Gun Provisions Turned Aside

House appropriators advanced a measure Thursday to fund the Justice and Commerce departments, along with science agencies, after endorsing a GOP gun proposal and sidelining a series of Democratic firearm policy amendments.

Address Patent Flaws or Face the Economic Consequences | Commentary

The U.S. became the world’s largest economy, in part, because its policies supported innovation and entrepreneurship. From Thomas Edison to Steve Jobs, U.S. entrepreneurs invented many of the innovations that drove the 20th century global economy, with patents playing an indispensable role in this innovation process — which may explain the prolonged push for congressional patent reform.

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Manufacturing's Comeback: Numbers Fabricate a Complicated-Yet-Rosy Outlook

American manufacturing hit an important milestone in April, when the Commerce Department reported that the sector had recovered all the value lost in the recession.

The Economy Needs Bitcoin | Commentary

A failure to adopt bitcoin will rob our nation of future economic growth and job creation. This fundamental fact should spur Congress to understand this new currency and create a bright line regulatory environment.

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