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...affordable housing, vital transportation systems, clean and clean water and the repair and replacement of deteriorating water infrastructure and investing in kids, leaving no child behind.
Economic Stimulus
The President's $694 billion ten-year Economic Growth Plan was introduced last week in the House and hearings will begin next week.
In a meeting with majority staff on the House Ways and Means Committee, NLC lobbyists were told that the speed of the tax rate cuts (established in the 2001 $1.3 trillion tax cut) would go forward as well as expensing allowances for businesses. We understand that there may be changes in the proposed tax exemptions for dividends; possibly a cap on the total amount exempted from federal taxes. Bush's Growth Plan is expected to pass the House with limited changes as part of the 2004 House Budget Resolution.
However, the future of this plan is less certain in the Senate where there are several economic stimulus proposals and concepts being considered. Senate Finance Committee Chairman Charles Grassley (R-Iowa) is planning three hearings and will solicit comments from all stakeholders.
Also, a group of moderate Republicans and Democrats has been meeting to try to hammer out a stimulus compromise that would attract bipartisan support.
NLC has met with the staffs of leading members of the Senate Finance Committee to communicate our support for state and local fiscal relief in any final stimulus agreement.
NLC leaders will be meeting with key players in the Senate economic stimulus debate during the Congressional City Conference.
Making American Safe--Homeland Security and Public Safely
President Bush signed the fiscal year 2003 consolidated spending bill (H.J. Res. 2) earlier this month and criticized Congress for not providing enough funding for local and state first responders in this final massive appropriation bill.
The bill provides about $1 billion in new funding for the President's $3.5 billion First Responder Initiative. There is also a .65 percent across the board cut affecting homeland security funding and many other programs.
Through the Federal Emergency Management Agency (FEMA), $25 million is available for grants for interoperable communications equipment; $25 million for emergency operations centers; $60 million for existing Urban Search and Rescue Teams; $165 million for state and local emergency planning grants; and $20 million for Community Emergency Response Teams. No funding was provided for emergency responder training programs, mutual aid agreements or security...
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