Geithner Addresses Economic Relations Between U.S. And China

By Robert Hune-Kalter-Talk Radio News Service

Treasury Secretary Tim Geithner testified before the Senate Finance Committee Thursday on U.S.-Chinese economic relations. Some issues discussed where China’s continued manipulation of their currency, the delayed exchange report policy, and the Chinese piracy of American software.

“Our policy towards China is about protecting the interests of the United States, our national security interests and our economic interests, and our strategy is to expand opportunities for American workers and American businesses,” said Geithner.

Chairman Max Baucus (D-Mont.) expressed concern that there is no strategic and coordinated United States economic policy in respect to China and that different government agencies are using different non-policies.

“It reminds me of a football team. You have a quarterback and fullbacks and running backs, and so forth, and if they don’t all run according to the same play that’s called, that team loses,” said Baucus. “I’m not saying this is a situation we want to win at China’s expense, I’m just saying we don’t want to lose.”

Sen. Ron Wyden (D-Ore.) supported China’s succession into the World Trade Organization. He believed it would be better for the Chinese to be inside a rules based trading system and it would be good for American exports. The Chinese agreed to join the government procurement agreement ten years ago.

“By my calculations, at least five of your predecessors have been slow-danced by the Chinese. We seem to constantly be in this situation, where someone in your position gets slow-danced off the dance floor,” Wyden said.

Geithner did not offer a timetable for when the final report on exchange rate policy would be complete, despite the request by the committee.

“We have put these economic issues at the center of our concerns in the relationship with China,” said Geithner.

Baucus Lukewarm On Kerry-Boxer Bill

By Marianna Levyash - Talk Radio News Service

During a Senate Finance Committee hearing Tuesday, Chairman Max Baucus (D-Mont.) stated that he supports climate change legislation, but holds some qualms over the Kerry-Boxer bill.

“I want our children and grandchildren to be able to enjoy the outdoors the way that we can today. So I’m going to work to pass climate-change legislation that is both meaningful and can muster enough votes to become law,” he said.

While Baucus did make clear that it is important for Congress to to act now on preserving the environment, he noted that the unemployment rate has reached an incredibly high level and therefore lawmakers must also work to create jobs in today’s economy.

Regardless of his reassuring statements, Baucus was the only Democrat to vote against The Clean Energy Jobs and American Power Act - otherwise known as the Kerry-Boxer bill - a vote that signaled his discontent with certain parts of the bill.

“While we must always be mindful of the cost of legislation, that’s particularly true in today’s economy. Our unemployment rate remains far too high. And we must be diligent to create jobs, including in the energy sector,” Baucus said.

Arizona Republican Urges Democrats To Reverse Key Provision In Healthcare Bills

By Meagan Wiseley - University of New Mexico/Talk Radio News Service

Rep. John Shadegg (R-Ariz.) and Sen. Tom Coburn (R-Okla.) urged House Speaker Nancy Pelosi (D-Calif.) and Sen. Max Baucus (D-Mont.) to exclude a provision that exempts insurance companies from tort claims from the proposed health care bills in the House and the Senate.

Section 514 of the Employee Retirement Income Security Act (ERISA) states, among other things, that if an insurance company improperly denies benefits to an individual, it cannot be sued for any resulting injury or wrongful death, regardless of whether it acted in bad faith in denying benefits.

“Why does a health care reform bill continue immunity to insurance companies so they can injure and kill people?” Shadegg asked during a press conference Wednesday.

The intent of the ERISA provision is to prevent the misuse and loss of pension funds to protect American retirees. Section 514 of ERISA contains a preemption that does not allow civil courts to sue insurance companies for injury or wrongful death, because 514 is a federal statute.

Standing alongside Shadegg was Florence Corcoran, who suffered the loss of her unborn baby in 1989. Corcoran took to the podium and explained that she was diagnosed with Toxemia during her 36th week of pregnancy. Her doctor had requested that she be admitted to the hospital for further monitoring of her unborn child, but her insurance company, United Health Care Inc., maintained that she would be adequately cared for while on bed rest at home. Corcoran left the hospital, and the next week her baby went into distress and died.

“Insurance companies, all they look out for is money. That’s all, it’s not the patients health that they are concerned about,” said Corcoran.

Shadegg offered an amendment to strip the immunity in section 514 in the House Energy and Commerce Committee, but said the amendment was rejected by Committee Chairman Henry Waxman (D-Calif.) The Arizona Republican said that he will offer an amendment to remove this language in the House Rules Committee.

“I hope...that the American people will rise up and demand that Nancy Pelosi fix this bill before it’s voted on in the House...or that in the conference committee it be fixed.”

Senate Finance Committee Rejects Amendment For Tighter Abortion Regulations

The Senate Finance Committee voted no today to an amendment introduced by Sen. Orrin Hatch (R-Utah) which states that “federal tax payer dollars will not be used to pay for subsidized abortions or the new plans and programs created in this bill.”

The amendment failed by a 10-13 vote.

Prior to the introduction of the amendment, the America’s Healthy Future Act stated “federal funds continue to be prohibited from being used to pay for abortions unless the pregnancy is due to rape, incest or the life of the mother is in danger.”

In its current state, the bill requires insurance companies to segregate private money, which comes from premiums, and federal money to ensure public funds are not being used to pay for abortions.

Sen. Hatch’s amendment also stated that women would have the choice to purchase a separate policy that includes abortion coverage.

Prior to the Committee’s vote, Chairman Baucus said, “Basically this is a health care bill, this is not an abortion bill. We are not changing current law.”

Czar Debate Enters Baucus Bill Markup

Travis Martinez, University of New Mexico- Talk Radio News Service

Friday morning brought the fourth day of the Senate Finance committee’s markup of the America’s Healthy Future Act. A large portion of Friday’s talks consisted of concerns over health care czars, keeping transparency within the bill and blocking age discrimination for premiums.

Sen. John Ensign (R-Nev.) proposed an amendment evoking the advise and consent clause, stating that any czar associated with health care should face a Senate confirmation process similar to those required for cabinet secretaries.

Chairman Max Baucus (D-Mont.) was once again quick to deny the Republican amendments.

“The job title czar does not exist,” he countered. “Having a czar confirmed by the Senate and the chance to testify would be a waste of time."

The amendment ultimately failed with 10-13 vote.

Sen. John Kerry (D-Mass.) offered a bill that would stop age discrimination, but after more than an hour of debate on whether the amendment was germane, Kerry ultimately withdrew his amendment upon the request of Chairman Baucus.

Friday’s session recessed at noon. It will return Tuesday, September 29 at 9:30