The Friday Faxline Issue 503

Press Release

The Friday Faxline Issue 503

Energy Department predicts moderation in gas prices

The Energy Department had good news this week for drivers dealing with steadily rising gas prices since the beginning of the year. Despite the recent price surge, the department predicts a moderation in the coming months. Predictions show prices peaking in May at $2.87 per gallon and then declining during the summer driving season. This is welcome news for budget-minded travelers, but, in the volatile global energy market, the forecast could easily change. For more lasting energy security, Congress needs to get serious about weaning America off of foreign oil and developing alternative technologies to replace petroleum-based energy. Making significant strides in these areas would give Americans far greater confidence about our future energy security.

House caucus focuses on organic agriculture industry

I recently joined the House Organic Caucus, a bipartisan group of 42 House Members focused on promoting a greater understanding of the nation's growing organic agricultural industry. Nutrition Business Journal estimates that by 2010, sales of organic foods could reach $23.8 billion, more than double the $10.4 billion in sales in 2003. With a growing number of farmers in my district taking up organic farming, I want to stay informed on the issues that affect the industry. On Friday, I visited Forrest Stricker's organic dairy farm near Wernersville to learn more about how the industry is affected by federal agriculture policies. Pennsylvania's rich farmland is allowing more and more local farmers like Stricker to meet the new consumer demand for organic products, and I'm glad to support their efforts as a member of the Organic Caucus.

Sen. DeMint still seeking earmark transparency

Sen. Jim DeMint (R-SC) and a handful of fellow budget hawks in the Senate have been trying since the beginning of the year to ensure greater transparency for earmarks included in Senate spending bills. Last month, DeMint offered a measure that would require Senators that sponsor earmarks to publicly disclose any financial conflicts of interests they may have with the earmark request. Democrats blocked his effort, however, claiming they weren't given enough notice before DeMint brought his measure forward. This week, DeMint sent a letter to Democrat leaders announcing his intention to reintroduce his transparency measure in the coming week. If they decide to block his efforts again, it won't be for a lack of advance notice. DeMint's effort would add accountability to federal spending, something everyone should be able to agree on, and I'm hopeful Senate Democrats will allow a vote on it this time around.

Unemployment rate hits 5-month low

Employment numbers released recently by the Labor Department have countered some analysts' predictions that we could be headed for an economic slowdown. Employers added 180,000 jobs to U.S. payrolls in the month of March, marking the largest single-month job gain since December. The Labor Department also revised the unemployment rate downward - it now stands at 4.4 percent, a five-month low. Counting March's job gains, our economy has added 7.8 million new jobs since the summer of 2003. Meanwhile, House Democrats have recently proposed the largest tax increase in American history - nearly $400 billion over five years. Such a move would deprive the economy of the raw material it needs to create the strong job growth we've been experiencing for over 36 straight months. Congress must balance the budget, but it should do so by reining in wasteful spending, and not by enacting tax hikes that threaten economic growth.

Quote of the Week

"In my view, this disclosure indicates his seriousness as a potential candidate."

- Former Senate Majority Leader Bill Frist (R-TN), commenting on former Sen. Fred Thompson's announcement this week that he was diagnosed with lymphoma two and a half years ago. The cancer is in remission.

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