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Climate Progress

Video Short: As Wind Tax Credit Dominates Presidential Campaign, A Look At What’s At Stake

How important is the wind industry to the U.S. economy? Since 2009, the wind industry has doubled its capacity, installing enough projects nationwide to power 12 million homes and supporting 75,000 jobs. Each year, the industry attracts $20 billion in private capital to the U.S. And most importantly, nearly 70 percent of all equipment used for wind farms comes from domestic manufacturers, according to the Department of Energy.

Mitt Romney has made his position clear on the campaign trail: He wants to increase taxes on the wind industry by eliminating a key federal credit — potentially threatening 37,000 jobs — and maintain nearly $40 billion dollars in tax credits for the mature oil and gas industry. Romney’s campaign admits this. And this stance has made a lot of Midwestern Republicans upset.

“The whole issue here is about fairness and equity. The older, carbon-based forms of generation have enjoyed benefits and tax subsidies within the tax code for 90 years,” says Harold Prior, Director of the Iowa Wind Energy Association. “While wind and solar and a lot of other renewables depend on highly visible, short-term tax subsidies that face expiration…and it really does not create a very predictable situation for the industry’s growth.”

So what’s at stake in the Midwest? Business leaders in Iowa — a swing state that gets 20 percent of its electricity from wind — explain why the tax credit is so important to local economies there:

Health

How Mitt Romney Would Quickly Bankrupt Medicare

Despite endorsing Paul Ryan’s proposal to maintain Obamacare’s $716 billion in Medicare cuts and reduce overall Medicare spending from 7 percent of GDP to 3.5 percent by 2023, Mitt Romney has announced that he would restore the ACA’s reductions — and avoid future Medicare reductions.

“My commitment is, if I become President, I’m going to restore that $716 billion to the Medicare trust fund so that current seniors can know that the trust fund is not being raided and get Medicare on track to be solvent long-term on a permanent basis,” Romney told CBS on Wednesday morning. But in replenishing the funds, Romney would actually be making the program worse off, not better.

The Obamacare savings slow the growth of Medicare over the next decade by, in part: eliminating overpayments to private insurers in Medicare Advantage, reforming provider payments to encourage greater efficiency, tying reimbursements to improvements in economic productivity, and reducing fraud and abuse. The law does not impact patient benefits. CMS offers a partial breakdown:

As a result of these savings, “growth in spending will be restrained” and the life of the Medicare trust fund is expanded by eight years, the government estimates. Sixteen million seniors are also benefiting from the savings by receiving preventive benefits without deductibles or co-pays and saving more than $3.9 billion on prescription drugs.

Should Romney restore the $716 billion — and unless he institutes other yet to be specified reforms — we would move back to the old system of overpaying private insurers and providers. He’d be re-inserting inefficiency back into the system, jeopardizing the benefits that seniors are currently enjoying, and shrinking the solvency of the Medicare trust fund from 2024 under current law to 2016.

“All of the demonstration and pilot programs aimed at payment and delivery system reform would also be eliminated,” Steve Zuckerman of the Urban Institute told ThinkProgress. “Definitely, the 8 year extension in the life of the Medicare HI trust fund would be gone.”

He added, “If I could ask Romney-Ryan one question on this topic it would be: After you repeal the ACA and restore the cuts in Medicare payments, would you then reinstate the Medicare cuts as part of your own budget plan?”

Economy

Romney: ‘No One Is Talking About Deregulating Wall Street’

Vice President Joe Biden said yesterday during a speech that a Romney administration would “let the big banks once again write their own rules, unchain Wall Street.” “He is going to put y’all back in chains,” Biden added.

During an interview on CBS Wednesday, Romney was asked for his reaction to the comment. Romney responded by claiming that Biden’s charge is “factually inaccurate” because “nobody is talking about deregulating Wall Street”:

ROMNEY: Of course, we have to have regulation on Wall Street and on every street to make sure that our economy works well, so it’s factually inaccurate to begin with. [...] The comments of the Vice President, as I heard them, were one more example of a divisive effort to keep from talking about the real issues. Look, no one is talking about deregulating Wall Street.

Watch it:

But Romney, on many occasions, has called for the repeal of the 2010 Dodd-Frank financial reform law, the first significant reform of the nation’s financial system since the Great Depression. In it’s place, all Romney’s economic plan calls for is a “streamlined regulatory framework.” The only specific aspects that Romney says he would implement are already in Dodd-Frank, which Romney admits in his plan.

Meanwhile, the House Republican budget written by Romney’s running mate, Rep. Paul Ryan (R-WI), dismantles key parts of the Dodd-Frank law. The GOP budget would render the government once again incapable of dismantling a failing financial firm, forcing it to resort to the same bailouts employed in 2008. Until Romney provides an alternative, his plan is nothing but deregulation of the sort that led to the 2008 financial crisis in the first place.

NEWS FLASH

Tea Party Billboard Compares Obama To Bin Laden | A Tea Party group launched a billboard in Elkhart, Indiana this month comparing President Obama to Osama bin Laden. The billboard is funded by We the People of Marshall and Fulton Counties and reads, “The Navy SEALS removed one threat to America… The voters must remove the other.” The Elkhart Truth reports that 25 residents protested against the offensive comparison, but the leader of the Tea Party group has no plans to take it down before November.

Protesters call for the Tea Party billboard to be taken down. Credit: Evey Wilson, Elkhart Truth

Ohio Secretary Of State Vows Uniform Voting Hours … Eventually

Ohio Secretary of State Jon Husted (R)

Ohio Secretary of State Jon Husted (R)

Ohio Secretary of State Jon Husted (R) said on Wednesday morning that he would unilaterally step in to address what he termed the “political hysteria” over disparities between voting hours across counties. But, while he said he will issue uniform rules for voting hours “long before October 2,” to treat “the largest counties and the smallest counties with equal consideration,” he took no responsibility for his own role in creating the issue.

Last week, ThinkProgress reported that voters in Democrat-leaning urban centers including Cleveland, Columbus, Akron and Toledo will now only be allowed to vote between 8 am and 5 pm on weekdays, when the majority of people are at work. When the counties’ boards of elections, which are split evenly between Democrats and Republicans, deadlocked over a Democratic effort to expand hours, Husted stepped in to deny expanded hours in these counties. At the same time, Republican-heavy counties actually expanded early voting hours on nights and weekends, when most people have time to go to the polls.

In a CNN interview, Husted said that he will “quell” the partisan controversy — which he himself helped create — by establishing uniform hours for all counties.

HUSTED: The issue at hand — it has been in law and in tradition in Ohio that local Boards of Elections have established their own voting hours. This is how it was in the last election. However, it has erupted into a little bit of a partisan controversy and I hope to quell that controversy by moving to establish uniform hours in every county across the state so we can get back to focusing on the candidates. … I am doing the research. I spent last evening talking to Democrat [sic] and Republican local elections officials to try to develop some consensus about establishing uniform hours statewide. This will be a precedent-setting move by myself and the State of Ohio to do this because it’s not been the tradition or it’s not been the standard that has been set previously. But we are trying to make sure that everybody feels like they are being treated fairly in every county. I have been a champion of uniformity. We should have uniform rules.

Watch the video:

While it represents progress that Husted now wants to make sure Republican-leaning counties do not get more hours to vote than their Democratic-leaning counterparts, he could have avoided the entire “partisan controversy” by allowing everyone expanded hours in the first place.

NEWS FLASH

Boehner’s Congress: Least Productive Of Post-WWII Era | The 112th Congress has passed only 61 bills this year, making it the least productive Congress in the post-WWII era, according to a USA Today analysis. Since Republicans gained a majority in the House of Representatives, Congress has passed less than 2 percent of all bills into laws. One of the few things it’s agreed on is renaming post offices, even though the U.S. postal service still requires congressional action to save it. A recent Gallup Poll found that just 10 percent of Americans approve of Congress, the lowest in history.

NEWS FLASH

Rudy Giuliani Goes After Biden: ‘He Isn’t Bright’ | On Tuesday, former Mayor of New York City Rudy Giuliani said that Vice President Joe Biden “isn’t bright” and questioned “whether he really has the mental capacity to handle” being President should the need arise. Giuliani, who endorsed and was embraced by Mitt Romney, trashed Biden on CNBC’s “The Kudlow Report” for his recent comment that Wall Street is “trying to put [people] back in chains.” The former mayor rebutted Bident’s comments, saying,”I mean, there’s a real fear if — God forbid — he ever had to be entrusted with the presidency, whether he really has the mental capacity to handle it. …This guy just isn’t bright, he’s never been bright, he isn’t bright,” he said. “People say, ‘Oh he just talks too much.’ Actually, he’s just not very smart.” Watch it:

Justice

BREAKING: Judge Upholds Pennsylvania Voter ID Law; Opponents To Appeal

In a blow to voting rights advocates, Pennsylvania Commonwealth Court Judge Robert Simpson upheld the state’s restrictive voter ID law, which could disenfranchise as many as 750,000 citizens in the state.

Though voter ID proponents were unable to cite even a single case of voter impersonation that would justify the ID requirement, Simpson “didn’t rule on the full merits of the case,” instead limiting his scope to whether it was a proper exercise of the legislature’s authority, according to the AP. They continue:

The original rationale in Pennsylvania’s Republican-controlled Legislature for the law — to prevent election fraud — played little role in the case before Simpson since the state’s lawyers acknowledged that they are “not aware of any incidents of in person voter fraud.” Instead, they insisted that lawmakers properly exercised their latitude to make election-related laws when they chose to require voters to show widely available forms of photo identification.

Voting rights advocates plan to appeal the case to the Pennsylvania Supreme Court, which will likely issue its own ruling before the November election. There is currently an even 3-3 split between Democrats and Republicans on the Court; the 7th Justice, Republican Joan Orie Melvin, is under suspension because of an unrelated corruption scandal.

Since Simpson ruled to uphold the law, Democrats will need one crossover vote to win a majority and strike down the law. Chief Justice Ronald Castille, a moderate Republican from Philadelphia, is most likely to side with the Democrats.

The federal Justice Department is also looking into whether Pennsylvania’s voter ID complies with federal law.

Justice

GOP Rep. Todd Akin Thinks Medicare Is Unconstitutional, Runs Medicare-Based Attack Ad Regardless

Rep. Todd Akin (R-MO)

Rep. Todd Akin (R-MO) believes Medicare is unconstitutional. Indeed, he told a Tea Party group last year that “I don’t find in the Constitution that it is the job of the government to provide health care,” a statement which suggests that he also believes that Medicaid and the veterans health system are also unconstitutional.

So it is a bit surprising to see that Akin is now running an ad attacking Sen. Claire McCaskill (D-MO), the woman he wants to replace in the United States Senate, for being insufficiently loyal to Medicare:

Akin fights to protect and strengthen Medicare and Social Security, defending our Missouri values. Claire McCaskill voted with Obama 98 percent of the time. was the deciding vote to pass Obamacare, voted to cut and gut Medicare by $700 billion.

Watch it:

Again, Todd Akin believes Medicare is unconstitutional. So the truth is that he wants to “protect and strengthen” Medicare in the same way that Luke Skywalker fought to protect and strengthen the Death Star.

Yet while Akin’s ad is impossible to square with his actual beliefs, it is unlikely to be the first such ad from a staunchly anti-Medicare candidate attacking their opponent for somehow undermining Medicare. GOP vice presidential candidate Paul Ryan is the author of a GOP plan to privatize Medicare, slash Medicare benefits and then phase out the Medicare program over time — a fact which the Romney campaign quickly identified as a serious liability to their chances of winning in November. In an effort to neutralize this liability, Team Romney started attacking President Obama for allegedly cutting $700 billion from Medicare almost immediate after the Ryan pick was announced.

The truth, of course, is that President Obama’s Affordable Care Act redirects wasteful Medicare spending, such as billions in unnecessary giveaways to insurance companies, to better uses such as providing prescription drugs for seniors. Paul Ryan’s most recent budget, by contrast, would also eliminate this wasteful spending — but would use the savings to pay for tax cuts for the rich.

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