02.04.08
Maria's Monday Memo
Response to the State of the Union
Following President Bush’s State of the Union address last Monday, I addressed a few of the President’s topics:
On the Economy:
For months, the housing crisis, persistently high energy prices, and volatility in the stock market have left millions of Americans feeling uncertain about their own economic future and the economic future of our country. It is during these times that Congress and the President need to address both short-term challenges and long-term needs for our economy and job growth.
While it’s important to focus on the here and now, we also have an opportunity to invest in stimulus measures that can alleviate some of the underlying problems. With gasoline price stuck well above $3 per gallon, and natural gas prices at historic highs, family budgets are being stretched thin every time they fill up their car at the pump or attempt to pay their heating bills.
On the Senate floor last week, I asked Congress to move quickly on the stimulus package and stand up for seniors, disabled veterans, and consumers and businesses. The president asked Congress to act swiftly on a stimulus package, and we are responding on a bipartisan basis to do the right thing in these tough economic times. Doing the right thing for our seniors, disabled veterans, consumers and businesses, means getting real dollars pumped back into the economy NOW, not playing a time-consuming game of ping-pong with legislation as economic conditions get worse. Our goal here is to act on policies that will stimulate the economy now and over the next 12 months. We should not lose focus on that key goal. The Finance package makes significant improvements to the House bill that I believe will strengthen—not undermine—the positive effect our actions in Washington DC will have on the families and businesses in Washington state and in every state in our nation. The Finance Committee bill makes sure that 20 million low-income seniors and 250,000 disabled veterans are eligible for the stimulus rebates.
On Energy:
Just a few weeks ago, Congress passed, and the President signed in to law, a landmark energy bill that raises fuel economy standards for the first time in over 30 years, ensures greater production of biofuels, and makes many of our electronics, appliances, and lighting more efficient. However, there is much much more that needs to be done. If we want to get beyond petroleum, we have to stop subsidizing it. It is time to get to the heart of the matter. We have to level the playing field by taking away embedded subsidies for mature and profitable industries and lending a hand to emerging new alternative technologies and provide competition in the marketplace.
We have to increase our investment in renewable and energy efficiency, protect consumers from price gouging and market manipulation, and make real steps toward increasing our energy independence instead of enabling our dependence. I look forward to working with my colleagues and a new Administration on moving our country forward toward energy independence.
Last week the Senate Finance Committee on which I serve marked up a critical stimulus bill designed to quickly respond to country’s short-term economic challenges. I’m pleased to report that an amendment I offered to extend expiring clean energy tax credits was included in the package. These incentives fit the very definition of stimulus – they are targeted and timely and will lead to tens of billions of dollars in investment and more than a 100 thousand new jobs in 2008. Only by accelerating our investment in clean sources of energy and energy-saving technologies can we get people and businesses real relief from crushing energy costs.
On Global Competitiveness:
For decades, our country has been a leader in innovation, research and development, and technology. In order for us to reinforce our country’s place as a global leader, we have to invest in a skilled, trained workforce, and strengthen basics like math and science education. With the right investments and incentives for innovation, education programs, and entrepreneurship, we can create jobs throughout the country and help stimulate our economy.
Job training should be a top priority, not an afterthought. In tough economic times, we should help workers learn new skills to transition into a new economy. Our nation’s economic recovery will be driven by our ability to compete in the global marketplace. We need to make a downpayment on American workers and ensure they have the tools and skills they need to lift our economy. Finally, we need to renew and expand Trade Adjustment Assistance (TAA). It must be a top priority in our trade agenda.
On Health Care:
Health care in this country must be reformed. Costs are rising and the strain being put on federal, state, and family budgets cannot be sustained much longer. To ensure the long term health of critical programs like Medicare and Medicaid, I will be working in the coming year to advance responsible policies that reward providers for quality, efficient health care.
We must also work to ensure that the uninsured get access to care now. Last year, Congress took real steps to guarantee health care for millions of children across the country through the State Children’s Health Insurance Program. But, President Bush chose to play politics instead of providing children with critical health care, and vetoed the children’s health bill twice. I hope that the President will be willing to reconsider his actions and pass the necessary changes needed to a program that gives millions of low-income children access to care.
On Iraq:
While security has improved in some parts of Iraq over the last few months, there still has not been sufficient political progress to resolve the disputes that must be overcome in order to bring stability to Iraq. The President must get Congressional approval for any long term security agreement he negotiates with Iraq. He can not extend the U.S. military commitments in Iraq without Congressional approval or tie the hands of the next administration. Even though President Bush is in the last year of his second term, Congress must still hold this Administration accountable for the war in Iraq and develop a strategy that implements a phased withdrawal of U.S. forces, ensures the Iraqi government takes responsibility for their country’s security, and does not leave permanent U.S. military bases in Iraq.
Providing the Best Possible Care for Seniors
Last Wednesday, I called for a critical examination of Medicare Advantage Private fee-for-service plans in a Finance Committee hearing. I have long been concerned about the rapid growth in the availability of these plans seen in the past few years. These programs simply are not facilitating quality care for patients, and, as a result, we are seeing more providers refusing to accept them. Testifying at the hearing was Dr. Albert W. Fisk, Medical Directorfor the Everett Clinic in Everett, who was asked by myself and the Committee to share the Everett Clinic’s experience with private fee-for-service. The Everett Clinic, a physician-owned group practice serving more than 20,000 Medicare patients, announced last year that it would no longer accept private fee-for-service plans due to their low payment rates and lack of support for added benefits that improve the quality of care for seniors. I will use the information I learned from this hearing to work with my colleagues in the Finance Committee and make needed reforms to Medicare Advantage private-fee-for-service plans.
To see the hearing online, visit: http://finance.senate.gov/sitepages/hearings.htm
On the Senate Floor, I Urged Congress to Act Quickly on Stimulus Package
On the Senate floor last week, I asked Congress to move quickly on the stimulus package and stand up for seniors, disabled veterans, and consumers and businesses. The president asked Congress to act swiftly on a stimulus package, and we are responding on a bipartisan basis to do the right thing in these tough economic times. Doing the right thing for our seniors, disabled veterans, consumers and businesses, means getting real dollars pumped back into the economy NOW, not playing a time-consuming game of ping-pong with legislation as economic conditions get worse. Our goal here is to act on policies that will stimulate the economy now and over the next 12 months. We should not lose focus on that key goal. The Senate Finance Committee package makes significant improvements to the House bill that I believe will strengthen—not undermine—the positive effect our actions in Washington DC will have on the families and businesses in Washington state and in every state in our nation. The Senate Finance Committee bill makes sure that 20 million low-income seniors and 250,000 disabled veterans are eligible for the stimulus rebates.
Some may ask how are these energy provisions stimulative? Let me respond clearly: extending these critical provisions now will prevent the loss of billions of investment dollars and thousands of jobs in 2008 that will be sacrificed if we fail to act. The bill includes a one-year extension of expiring clean energy and energy efficiency tax credits that will help consumers and businesses make stimulative investment decisions in 2008 to address one of their most pressing long-term cost pressures—energy costs. Extending this package of incentives now will enable companies to go forward with renewable energy investments in wind and solar that are on hold waiting for Congress to provide some certainty in the tax code. Mr. President, we have to act quickly, for our seniors, our disabled veterans, our consumers, and our businesses. The quickest way to get a good, effective stimulus package to the president’s desk is to vote for the Finance Committee bill and move it quickly thorough conference.
Record Oil Company Profits Prompt More Aggressive Clean Energy Investments
After another year of record oil company profits, I made it my goal to be more aggressive with clean energy investments. While we, of course, want U.S. companies to succeed in the global marketplace, last week’s announcement of another round of record-breaking oil company profits reaffirmed that hugely profitable companies don’t need continued taxpayer subsidies or overly generous leasing deals. Hard-working Americans and small businesses are fed up and disgusted that oil companies reaped over half a trillion dollars in profits since 2001 while their own purchasing power has declined.Instead of spending tens of billions buying back their stock, oil companies should become part of the solution by investing in alternative fuel sources that can increase supply and drive down prices.
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After another year of record oil company profits, I made it my goal to be more aggressive with clean energy investments. While we, of course, want U.S. companies to succeed in the global marketplace, last week’s announcement of another round of record-breaking oil company profits reaffirmed that hugely profitable companies don’t need continued taxpayer subsidies or overly generous leasing deals. Hard-working Americans and small businesses are fed up and disgusted that oil companies reaped over half a trillion dollars in profits since 2001 while their own purchasing power has declined.Instead of spending tens of billions buying back their stock, oil companies should become part of the solution by investing in alternative fuel sources that can increase supply and drive down prices.
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