Democrats made a very big deal about all the bills they passed in the House during the first 100 hours of the new Congress. Their legislation addresses key business issues, such as taxes, energy and the minimum wage. Seems like a lot in a short time, but guess what? The next 100 hours might be even more important. CNBC’s Sue Herera found out why.
During the first 100 hours, House Speaker Nancy Pelosi and the Democrats passed six major bills. They do the following:
Lower interest rates on student loans
Expand stem cell research
Raise the minimum wage
Increase cargo inspections (in the fight against terror)
Change rules dealing with lobbying and budgeting
Restore $15 billion in fees, royalties and taxes on the oil industry.
Of course, none of these items are a done deal. “The first 100 hours will quickly collide with Senate and with White House reality,” explained Ruth Marcus, an Editorial Page Columnist at The Washington Post. “It’s easy to keep the House together and muscle through legislation. It’s a lot harder to do that in the Senate because there’s more opportunities for procedural blocks and then you have a President who still has a veto pen.”