1/4% Tax on all stock trades pushed in NY Times today

Quote from rc8222:

It doesn't matter what Stark does, as a FTT proposal wouldn't pass the Senate. The Republicans would be able to filibuster and stop it. Since the Democrats are using reconciliation to pass health care, they can not use this procedure again until next year. By January 2011, the House and Senate will have a significant number of Republicans, so Stark won't be able to get a transaction tax proposal passed, either this year, next year, etc.......
*The reconciliation process can only be used once a year.
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I hope you are right, however, there are 7 months before the election. Alot can change between now and then.
 
Quote from TPCS:

Regarding the Ways and Means Committee, the best chance for the bill to die without ever coming up for a floor vote is here. It is currently chaired by Charles Rangel. However, if he steps aside for whatever reason then Pete Stark becomes Chair. He is a co-sponsor of 4191. Kind of bad luck on that since there are only 2 co-sponsors on that Committee. The composition of the 41 members is 26 Democrats and 15 Republicans.
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I warned everyone about this back on January 10.

Quote from listedguru:

From the sounds of it we're stuck with Pete Stark as Chairman of the Ways and Means until the end of the year (unless Pelosi acts to have him replaced). If Dem's retained the house then there would be a bunch of folks gunning for the position and if the Repub's win then I believe they would name a new chairman?

Either way it's doubtful Stark will be Chairman past the end of this year. I guess we'll have to wait and see what he does in that role. I would think he will probably try and advance Defazio's bill out of committe. Does anyone remember how many Dems signed onto that "NO" letter for the FTT bill?

-Guru
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As far as I know, 36 lawmakers signed the letter. Three of them were confirmed House Democrats. No word on who the others were. My current guess as to how many supporters 4191 has in the House is 101, based on sponsorship, confirmed statements, and membership in various factions (such as the Communist group DeFazio founded). If anyone has confirmed information on where any politicians stands on 4191 or 2927, then please PM me so I can update my spreadsheet.
 
Reposting another of my comments from January 10, which becomes more relevant now:

Quote from TPCS:

A note on the composition of the Rules Committee:

It has 13 members: 9 Democrats, 4 Republicans. It also has 4 co-sponsors of 4191 (all Democrats). The Chair of the Committee is Louis Slaughter, one of the co-sponsors. This effectively means that the Committee will be able to set the rules for how the bill will be handled on the floor and it will be biased towards passage of 4191.
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Richard Neal, a Democrat that heads a tax-writing subcommittee, who is against the FTT, was in conversation with Rangel about it. Suppose he'll be speaking to Stark about it now.
 
Quote from TPCS:

Reposting another of my comments from January 10, which becomes more relevant now:
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People need to relax. The Democrats are going to ram health care through via reconciliation, which means they can't use that tactic to pass anything again until 2011. By Jan. 2011, a new Congress will be sworn it, and will include a significant number of Republicans in both chambers.
As far as Stark getting any sort of FTT proposal passed this year. Ain't happening in a million years!!!!!! If Obama rams through health care, the Republicans have already said that Obama will not get a single vote for any other piece of legislation on his agenda. Since the Dems. are using reconciliation on health care, they won't be able to use it this year for any FTT proposal. So any bill submitted this year will require 60 votes in the Senate to break a filibuster, so it would never pass, and by January 2011, I expect the GOP to pick up enough votes in the House to derail a FTT. The GOP should also pick up a significant number of Senate seats, although probably not enough to prevent reconciliation, but with the GOP gains and at least 5-6 Senate Dems. opposed to a FTT, it's doubtful a reconciliation bill on a FTT would pass the Senate in 2011.
Also, many Democrats are not happy with Stark holding this temporary position. I read on Politico that after the November elections, several Democrats are expected to compete for the spot on this seat, which leads me to believe that Pelosi will not keep Stark in that positon. Of course, all of this could be moot if the Republicans win the House in November, which is a very strong possibility, especially if health care is shoved down our throats.
 
Quote from rc8222:

California's Stark Takes Over Ways and Means Panel for now, as Democrats consider other candidates for the position.




http://online.wsj.com/article/SB100...6.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsThird
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Well they say jobs in the next thing up after they finish with healthcare so they might try and push the FTT to fund some sort of jobs bill with Stark now at the helm. I highly doubt it would be successful (no way it would pass the Senate) but it's just something to keep an eye on. I have a feeling this healthcare deal is going to get very messy and might take up a lot of time (which is good for us)...

It's also interesting that the article said Stark was a former banker?

-Guru
 
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