In December, the Republicans passed the ‘Cromnibus’ spending bill that fully funded Obamacare and mostly funded Obamamnesty, they did, however, draw one line in the stand and that was that they were absolutely committed to subsidizing megabanks like JP Morgan and CitiGroup with taxpayer-funded back-up funds for gambling on risky derivatives.
Now that the Corporatist John Boehner has been safely installed as Speaker of the House, the first bill the Republicans are going to take up is apparently going to be another massive taxpayer subsidy to big business, one favored and promoted by outgoing Democrat Majority leader Harry Reid.
Reid instructed Republicans to put TRIA — which created a taxpayer backstop for property insurers after 9/11 — at the top of their agenda. Joining Reid in this cry was a chorus of industry lobbies. And Republicans have responded.
And Republicans have put reauthorizing the bill at the top of their legislative agenda.