CD079: The June Bills

This episode highlights the laws and bills that passed the House of Representatives in June. Most of the bills this month were dedicated to cutting corporate taxes and keeping us hooked on fossil fuels. Laws S 1044: WWII Memorial Prayer Act The bill originated in the Senate, where it passed unanimously; it passed the House on June 23 by 370-12 and was signed into law a week later. A plaque will be installed at the Washington D.C. World War II memorial that says that President Roosevelt prayed on the morning of D-Day. The plaque will be privately funded. Written by Sen. Rob Portman of Ohio. No Republicans voted against it. HR 316: Collinsville Renewable Energy Production Act Allows the Federal Energy Regulatory Commission to reinstate a license for two hydro-electric projects in Connecticut and allows the license to be transferred to the town of Canton, Connecticut. Written by Elizabeth Esty, a Democrat from Connecticut. The bill passed unanimously in the Senate and was supported by every Democrat in the House; only three Republicans voted against it. It was signed into law on June 30th. Bills HR 4457: America's Small Business Tax Relief Act of 2014 Makes permanent a four year business tax cut that allowed businesses to deduct up to $500,000 in property from their taxes. This is supposed to revert back to $25,000 in 2014. Adds things that can be deducted such as air conditioning, heating, and computer software. Eliminates some limits on what can be deducted. The amounts that can be deducted would increase yearly with inflation. The effects this bill would have on the budget would not be counted. Written by Rep. Patrick "Pat" Tiberi of Ohio. The bill passed with a vote of 272-144. HR 4453 S Corporation Permanent Tax Relief Act of 2014 Lowers the number of years that a kind of corporate income is taxable from ten years to five years. The effects this bill would have on the budget would not be counted. The bill passed 263-155 with the same two Republicans who voted against HR 4457 - Walter Jones of North Carolina and retiring Congressman John Campbell of California- voting against it. Forty-two Democrats said yes to this bill. The bill was written by Rep. David Reichert of Washington. HR 4413: Customer Protection and End User Relief Act Title I requires traders to have enough money to pay out customer bets and adds reporting requirements, but implements no punishment for non-compliance. Title II makes the Commodity Futures Trading Commission publish the costs and benefits of proposed regulations and creates a new Office of the Chief Economist within the Commodities Futures Trading Commission which has no specific purpose. The Commodity Futures Trading Commission could taken to court by a person - or corporation - that doesn't like their rules. The court can overturn the rules. Exempts some swaps gamblers from having to set aside money. Classifies fewer gamblers as "financial entities", which would effectively exempt them from some regulations. These changes are retroactive to July 21, 2010 (the effective date of the Dodd-Frank financial reform law). Walter Jones of North Carolina was the only Republican to vote against this bill (John Campbell didn't vote) and 46 Democrats joined the rest of the Republicans to pass it 265-144. The White House didn't issue a veto threat but said they "strongly oppose" the passage of this bill. It has little chance of becoming law. Written by Frank Lucas of Oklahoma. HR 3301: North American Energy Infrastructure Act Gives the Secretary of State, instead of the President, the authority to approve cross-border oil pipelines and forces them to make a decision within 120 days of the final environmental impact statement. No permit will be required to modify existing cross-border oil or gas pipeline. Allows the export and import of natural gas to Canada and Mexico without approval by the Federal Power Commission, which is required now. Allows the United States to transfer electricity to other countries without approval by the Federal Power Commission, which is required now. These provisions would be effective July 1, 2015. Written by Rep. Fred Upton of Michigan, who has taken over $2 million from the Energy and Natural Resources sector. The only Republican to vote against this bill was once again, Walter Jones of North Carolina. Seventeen oily Democrats joined the vast majority of the Republicans to pass this bill 238-173. HR 6: Domestic Prosperity and Global Freedom Act The Department of Energy would have to make their final decision on applications for gas export facilities within 30 days of the finished NEPA review. The public would have to be told where the gas is being exported. This bill was written by Rep. Cory Gardner, who is currently running for the Senate in Colorado. The bill passed 266-150. HR 4899: Lowering Gasoline Prices to Fuel an America that Works Act The government must lease at least 50% of the outer Continental Shelf that is thought to have the most oil and gas (according to the Minerals Management Service Assessment of Undiscovered Technically Recoverable Oil and Gas Resources of the Nation's Outer Continental Shelf, 2006). Forces lease sales off of Virginia, South Carolina, and southern California, with rigged environmental reviews that are not allowed to analyze and compare alternatives to drilling. Gives 37.5% of the money the Federal government gets from offshore fossil fuel drilling and gives it to the oil States. Abolishes the Minerals Management Service, which no longer exists. Prohibits implementation of an Executive Order issued during the Deepwater Horizon disaster that says that we'll take care of the oceans. Considers territories to be "States" to force drilling off their shores. Limits the amount of time citizens have to challenge fossil fuel decisions in court to 60 days. Deems approval of drilling permits if they are not decided in less than 60 days. Citizen's will be charged a $5,000 "protest fee" to challenge a drilling permit in court. We would spend $50 million per year to map fossil fuels for the industry. Congress would be given less information about drilling leases. Would pass the PIONEERS Act - again - would would bring back the Bush administration rules for oil shale development, which require fewer environmental studies and allows oil companies decide which new regulations to obey. Would force oil and gas leasing in Alaska and deem approval of permits not decided in under 60 days. Deletes a completed environmental impact statement for drilling in Alaska. This bill was written by Rep. Doc Hastings of Washington, who is retiring at the end of this term. The bill passed the House on June 26 by a vote of 229-185. Weed, CA Fire Music Presented in this Episode Intro and Exit Music: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) June Gloom by 4-Track Glo (found on Music Alley by mevio) Taxes by Nashville Session Players (found on Music Alley by mevio)