Kerry-Boxer Bill Needs Honest Cost-Benefit Assessment, Says Sen. Grassley

At a Senate Finance Committee hearing Tuesday, Sen. Chuck Grassley (R-Iowa) stated that an honest cost-benefit assessment for climate change legislation is necessary.

"An assessment...requires that we first stop trying to sell this policy as if it will have no cost for Americans," said Grassley. (0:16)
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Baucus: Our Unemployment Rate Remains Far Too High

Regarding climate change legislation and job creation, Senate Finance Committee Chairman Max Baucus (D-Mont.) says on Tuesday that "our unemployment rate remains far too high...and we must be diligent to create jobs, including in the energy sector." (0:12)
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Michigan Democrat Believes Excise Tax Is Bad For Public

Rep. Sandy Levin (D-Mich.) says he signed a letter to Speaker Nancy Pelosi urging her to reject the Senate Finance Committee’s proposed excise tax because he feels “pressure to protect the people of the United States of America.” (0:36)
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Connecticut Democrat Says Proposed Excise Tax Will Affect Middle Class Americans

Rep. Joe Courtney (D-Conn.) says the Senate Finance Committee's proposed excise tax on "cadillac" health insurance plans will affect a group of people “far wider than the Paris Hiltons of the world.” Courtney says this tax will affect a much larger group of middle class Americans. (0:45)
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Baucus: Public Option Will Not Pass Senate

Tuesday the Senate Finance Committee voted against the public option amendment. Chairman Max Baucus (D-Mont.) argued that a health care bill with a public option will not receive 60 votes. He vows work to reform health care, but states he can not vote for a public option. (0:22)
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Sen. Ensign: Czars Should Face Senate Confirmation

Sen. John Ensign (R-Nev.) argued that Congress needs to exert its authority stronger in order to restore checks and balances. Ensign goes on to state that Czars should face a senate confirmation. (0:43)
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Democrat Rockefeller Calling For More Organization With GOP Health Care Amendments

Wednesday afternoon during the Senate Finance Committee's markup of the "America's Healthy Future Act 2009," Sen. Jay Rockefeller (D-W.Va.) states that although the GOP is offering ideas on the legislation, their amendments have been unclear and not adequate at meeting the criteria that the Democrats have laid out. Rockefeller also acknowledged that the amendment disposal process has been slow. (1:08)
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Senate Finance Committee Chairman Says Health Care Delivery Method Must Change

Sen. Max Baucus (D-Mont.) says changing the health care delivery method will be the step that will underline all health care reform. (0:19)
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Baucus Hopeful Republicans Will Eventually Back Health Care Reform

Senate Finance Committee Chairman Max Baucus (D-Mont.) says while there are currently no Republicans publicly backing the proposed America's Healthy Future Act, he believes Republicans in the Senate Finance Committee will soon support at least some version of health care reform. (0:26)
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Senate Finance Committee Chairman: Health Care Reform Talks Have Been Bipartisan

Sen. Max Baucus (D-Mont.) discusses the "Gang of Six" and its effort to employ bipartisanship in forming a health care reform strategy. (0:29)
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Senate Finance Committee Chairman: End of Health Care Talks Nearing

Sen. Max Baucus (D-Mont.) suggested Monday that the "Gang of Six" will reach the end of the health care discussion process in "coming weeks." (0:24)
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Gang of Six Senator Says Health Care Reform Package Will Be Fully Paid For

Sen. Kent Conrad (D-N.D.), Member of the Senate Finance Committee, says recent "scoring" shows that the Committee's proposed health care reform package can be paid for under their plan. (0:19)
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Senate Will Have Health Care Reform Bill By End Of Year, Says Sen. Rockefeller

“We’re still struggling in the Finance Committee, and that’s okay, because one thing that I’m very certain about is that we’re going to have a health care bill...and we’re going to have it by the end of this year,” says Sen. Jay Rockefeller (D-W.Va.) during a press conference Wednesday. (0:19)
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Senators bump heads on the vote to nominate Timothy Geithner

by Christina Lovato, University of New Mexico-Talk Radio News Service

U.S. Senators debated in the Senate Finance Committee today as they gathered to vote on the nomination of Treasury Secretary-designee, Timothy Geithner to be Secretary of the Treasury. Geithner from 2001 to 2004 failed to pay $34,000 in Social Security and Medicare taxes while he worked for the International monetary fund.

Senator Carper (D-Del.) who voted for the nomination said “I would just remind all of us as we sit in judgement of this nominee or other nominees in the future, none of us is perfect.” said Carper. “In our positions we need to serve as role-models and we have to subscribe to a higher standard than most ordinary citizens and clearly he needs that, he needs to learn that lesson.” he concluded.

Other Senators didn’t believe in giving Geithner the benefit of the doubt such as Senator Enzi (R-Wyo.). “In previous years nominees that had made less serious errors in their taxes than this nominee have been forced to withdraw.” said Enzi. He went on to say that he wasn’t convinced Geithner is the right man for the job at hand.

Though the nomination for Geithner passed, the process continues, and Senator Kyl (R-Ariz.) who is the Republican Whip will have influence on the decision. Although Kyl believes Geithner has good instincts, he is still not getting his vote. “I very much wanted to support his nomination but at this point I don’t believe that the requisite candor exists for me to indicate my support for him with an affirmative vote.” said Kyl.

Yesterday, there was a 3 hour hearing on the nominee, with the full Senate Finance Committee voting on the nomination today. The Committee ended the meeting by voting 18-5 in favor of Geithner’s nomination.


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Dr. Seiders says he recommends creating a tax credit for home purchase

At the Senate Finance Committee on "The Real Estate Market: Building a Strong Economy," Dr. David Seiders, Chief Economist and Senior Staff Vice President at the National Association of Home Builders, says his recommendations to the finance committee are creating a tax credit for the purchase of a home, expanding the mortgage revenue bond program, expand the net operating loss deducting carry back, and designate housing an eligible investment for tax-preferred retirement accounts. (1:01)
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