Washington more open to business than usual
Pending legislation reflects the most business-friendly climate in years.
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A bipartisan deal, moreover, is allowing some of Bush's long-stalled judicial nominees could also be a boon to US corporations. Janice Rogers Brown, a conservative judge from California, is slated to serve on the appeals court representing the nation's capital, where most cases that affect government regulation are heard.
"So far, so good," says Bruce Josten, top lobbyist for the US Chamber of Commerce. Much of the remaining business agenda is "ripe" to move through this session of Congress, he says.
The pending highway bill is critical to businesses locked into a "just in time" delivery of goods by truck, he adds. Conferees are working this week on a compromise between the $295 billion Senate bill and the $284 billion House version - the highest the White House says it can support.
On energy, the last time the Senate debated a comprehensive bill, the measure was pulled out of committee by Tom Daschle (D), then the Senate majority leader, and later debated on the floor until it died. This year, the energy bill comes to the floor with a bipartisan endorsement from the Energy and Natural Resources committee - a big assist in getting agreement from the full Senate. Still, passage for the subsidy-packed bill is uncertain. For example, the truce over judicial nominees could break down, affecting other matters.
Early in Bush's second term, Congress passed a law sought by banks and credit-card firms that makes it harder for individuals to declare bankruptcy. Another new law shifts most class-action lawsuits from state to federal courts, a move aimed to reduce huge verdicts against firms.
"President Bush is clearly very business oriented," says Fred Greenstein, a political scientist at Princeton University. "The first big bills in the Bush second term, bankruptcy and tort reform, are tilted toward 'Let's keep jiggering the American legal system so that this is a great country to do business in.' "
Other presidents have cut taxes more sharply. But Bush has lowered taxes every year of the his presidency. Another $70 billion in tax cuts, extending dividend and capital-gains tax cuts, are on a procedural fast track in this year's budget cycle that protects them from a filibuster.
Consumer groups say there are costs to moving a pro-business agenda that may not be obvious.
"The Bush administration wants to deregulate business finances as well as health, safety, and environmental regulation," says Joan Claybrook, president of Public Citizen, a Washington-based public interest group. "The consequences aren't always felt immediately, but whether it's big trucks that aren't regulated adequately and have more crashes or it's unclean air, the consequences will be felt."
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