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Retract his amnesty? we ll know by the end of february. how about extending tax breaks? tax extenders already expired for 2015, new year s day yesterday. the question is when will republicans go back and redo these tax extenders before the end of the year retro actively. the big question is whether or not obama is going to demand increases in revenue, any type of tax reform republicans do. the highway the highway trust fund is expected to go broke at the end of may and a way to change that, or to subsidize that at least is to do something with the gas tax. what s going to end up with this? what do republicans need to do? the highway trust fund has been going broke since about 2008 and there have been short term fixes different congresses put in, the most recent one with pension smoothing and that to expire by the end of may. but there are some republicans that want to ....
To fund transportation and we voted out a six-year bill. the next stop, we have to fund it. and that s not in the jurisdiction of my committee and it went over to the senate fans committee and the house ways and means committee and the house ways and means committee acted and they acted on a package that is the worst possible thing. they shored up the trust fund instead of doing it for the end of this year, so we could act this year and give some certainty, they did until may, which is right up against the next construction season and they use gimmicks like pension smoothing, which we have used that before, but you know what? this is giving the companies another five years where they don t have to fund their employees pensions to keep the highway trust fund going for a few months. ed, you talk about all the challenges we re facing in the world that, we can t control, we can control this. no doubt. and senator, your thoughts on the gas tax, it hasn t been ....
Highway trust fund. the companies will have to put the money into the pension fund but it falls odd the ten year budget window congress uses to decide if the bug is balanced, it doesn t count. you re not creating revenue. you re pulling revenue from the future into the present. exactly. because of the ten-year thing. the amount of revenue this will generate over ten years is enough to fill the highway trust fund back up for five more months. so this buys us five months and then in january we have to come back and find a new gimmick. we can t use the pension thing because we already used it. the funny thing is when you cover congress, where everything has to be paid for, this thing known on capitol hill as pension smoothing is everybody s favorite gimmick paying for. can we do pension smoothing? when you talk to people about this nobody really opposes it. they just want to make sure it s spent on what they want. democrats want to use this to ....
The the companies will eventually have to put the money in the pension funds so later they ll pay less corporate tax. if it falls outside the ten-year window that congress uses to decide whether it s balanced, it doesn t count. you re not creating any new revenue. you re pulling revenue from the future into the present. exactly. because of that ten-year thing. the amount of revenue this will generate over ten years is enough to fill the highway trust fund back up for five more months. so this buys us five months then in january we ll have to come back and find a new gimmick to put money in highway trust fund. can t use the pension thing because we already used it. the funny thing about this, when you cover congress in the era of pay go, where everything has to be paid for, this thing which is known on capitol hill as pension smoothing is like everyone s favorite gimmick pay for. you got new expenses. can we do pension smoothing on that? nobody really opposes doing it. they wa ....
Gregg: right now senate negotiators reaching across the aisle, party lines, that s right, striking a deal to extend federal benefits to long-term unemployed americans. five democrats, five republicans, signing on to the agreement. there they are. to renew benefits for five months and make retroactive payments, they plan on covering the $10 billion plan with pension smoothing and customs fees but even if it does get 50 votes in the u.s. senate, its future in the house is uncertain. speaker john boehner has in the past said that he will not support any. tension of unemployment benefits. so far he has not commented however on this senate proposal. lease viebeck joins us, staff writer for the hill. there was so much self-congratulations going on yesterday, i m surprised nobody broke their arm patting themselves on the back. but when you look at this particular jobless bill, in truth there is not much meat on the bone here, is there. ....