| 来源类型 | Daily Update
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| 规范类型 | 其他
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| Financial Regulation, a Pay Cut for Congress and Kagan Missing in Action |
| Stub
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| 发表日期 | 2010-05-20
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| 出版年 | 2010
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| 语种 | 英语
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| 正文 | 1. FINANCE
The Senate rejects a move to cut off debate and further amendment on the financial regulation bill sponsored by Chris Dodd (D-CT).
CEI Experts Available to Comment: Director of the Center for Investors and Entrepreneurs John Berlau on how the market dodged a bullet during the amendment process.
“CEI and other free-market policy groups, as well as organizations representing the angel investors that put money into innovative entrepreneurial startups, decried the rules that would have more than doubled the threshold for “accredited investor” from $1 million to $2.5 million in net worth — using the ridiculous rationale that “poor millionaires” needed to shielded from startup risk. According to the Angel Capital Association in Kansas City, these provisions would have reduced the number of eligible angel investors by more than two-thirds and made private placements of securities nearly as cumbersome as going public.”
2. BUDGET
Rep. Ann Kirkpatrick (D-AZ) proposes a five percent pay cut for members of Congress.
CEI Expert Available to Comment: Journalism Fellow Ryan Young on why the proposal is largely symbolic.
“The federal government is on track to spend about $3.8 trillion this year. Trimming $4.65 million means that for every $816,502 the federal government spends, it would save one dollar. Rep. Kirkpatrick is proposing a 0.00122 percent spending cut. That’s not even a rounding error. I do not intend to mock Rep. Kirkpatrick. Her spending cut is better than nothing, and I am glad she is proposing it. But placed in proper context, it is very, very small. It is a largely symbolic proposal, and should be treated as such. A 5 percent pay cut for Congress is no austerity measure.”
3. LEGAL
Elena Kagan did not play a role in the Supreme Court case challenging life sentences for juveniles.
CEI Expert Available to Comment: Senior Counsel Hans Bader on why Kagan was shirking her duty as Solicitor General by not defending federal law.
“As dean of Harvard Law School, she banned the military from Harvard, challenging a federal law that granted equal access to military recruiters. She claimed the law, which applied to recipients of federal funds, was unconstitutional — a position unanimously rejected by the Supreme Court. Too bad she didn’t have similar zeal for protecting crime victims in Monday’s Graham v. Florida case, which may well result in dangerous criminals being released who will go on to commit more acts of violence.” |
| URL | https://cei.org/news-letters-daily-update/financial-regulation-pay-cut-congress-and-kagan-missing-action
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| 来源智库 | Competitive Enterprise Institute (United States)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/363034
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推荐引用方式
GB/T 7714 |
Stub. Financial Regulation, a Pay Cut for Congress and Kagan Missing in Action. 2010.
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