Today’s Agenda
Senator Lee will return to Washington DC today where procedural votes on the continuing resolution are expected.
From the Senator’s Desk
Why is Coca-Cola receiving taxpayer money?
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Recent Votes
On the motion top table the House continuing resolution, Senator Lee voted yes because the bill was not consistent with spending levels passed in the Ryan budget plan earlier this year.
Around the Water Cooler
And although a major part of the policy seems to be directed to increasing demand for home mortgages, a low-yield on 10-year Treasurys is not automatically linked to cheaper 30-year mortgages. Bernanke and friends seem to have forgotten that there are two sides to the mortgage — borrowers and creditors. The lower yields go, the less likely investors are to finance mortgage-backed securities.
Reid faces difficult task in winning leverage with spending vote
Reid’s bill is identical to the continuing resolution approved by the House last week, with one exception: his legislation provides $3.65 billion in disaster funds to the Federal Emergency Management Agency without offsetting any of the money through spending cuts. The bill moved by the House included a $1.5 billion cut to a green-energy program and a $100 million cut to the program that provided a loan to Solyndra, the bankrupt California-based solar company at the center of administration controversy.
A Look Ahead
If the senate adjourns as expected, Senator Lee hosts two town halls this week in Draper and Provo. See more details here:
http://www.lee.senate.gov/public/index.cfm/townhall-meetings