VOLUME No: 62 Issue No:2

Washington, D.C. - June 11, 2004

At the request of House Speaker Dennis J. Hastert (R-IL), House Republicans included a measure in a major jobs bill that would allow religious leaders more freedom to voice their political opinions without jeopardizing their tax-exempt status. Conservative Christian groups backing the provision believe that prohibiting churches from engaging in political debate denies them of their historical role in United States politics.

The new provision would grant religious leaders the ability to engage in political debate, endorse candidates and commit up to three unintentional violations each year without losing their 501(c)3 tax-exempt status. Some unintentional violations include making partisan statements in church publications and using church funds to endorse or support a candidate. Some Republican House leaders, including Rep. Walter B. Jones Jr. (R-NC), believe the new bill does not go far enough.

A proposal brought to the House two years earlier would have allowed church groups to publicly endorse candidates and help them get elected through financial contributions. Democrats and Republicans against the provision say the new law would ultimately break the line separating church and State. Recent polls suggest a majority of churchgoers vote Republican.

U.S Works to Comply with WTO Agreements

The World Trade Organization (WTO) ruled America's Foreign Sales Corporations (FSCs) and the Extraterritorial Income Exclusion (ETI) export subsidies were found to be in violation of WTO agreements. As of June 1st, tariffs are now at 8 percent which some suggest is imposing heavy damage on the U.S. economy. H.R. 4520, which is a bill introduced by the House Ways and Means Chairman, will bring the U.S. tax code into compliance with the WTO rulings while reforming the US tax code. The hope is that it will spur economic growth in America. Items included in the bill are:

• Allows taxpayers to deduct their State income tax or State and local sales tax (whichever is greater) in 2004 and 2005.
• Provides pro-growth tax incentives for manufacturers, small businesses and farmers to help create more American jobs.
• Enhances the competitiveness of U.S.-based companies engaged in exporting and/or manufacturing by greatly reducing double taxation.
• And allows American companies to repatriate foreign profits back into America

For more information see: http://waysandmeans.house.gov/media/pdf/fsc/4520/4520summary.pdf

http://www.americanshareholders.com/news/asainvestinusa03-04-04.pdf

Citizens for Health hosts the Herbal Alternatives Congressional Briefing

On June 17, 2004, Dr. James Duke will present scientific evidence and safety record pertaining to herbal alternatives. Dr. Duke is a 30 year USDA veteran and considered the nation’s top herbal expert.

Citizens for Health believes that herbal medicines have not received accurate press and Congress needs to be better informed on the benefits of herbal medication.

For more information visit the Citizens for Health website at http://www.citizens.org

Election 2004

Latest Polls

The latest Zogby International polls show the President’s job approval rating up four points to 46%. This contrasts with another finding in the poll where over half of the respondents (54%) disapproved of his overall performance.

President Bush’s handling of the Iraq war is up 3 points to 39% from last month while disapproval ratings are down 4 to 60%.

In the Presidential race Sen. John Kerry’s lead dropped from 47%-42% to 44%-42%.
When respondents were asked if the President deserved to be reelected 42.5% responded yes while 53% believed it was time for someone new.

According to Pollster John Zogby: “This has been a good week for the President. Voters like to see their President on the world stage… With the death of President Reagan, Americans have seen the more compassionate side of George W. Bush.”

Republicans Back Drug Reimportation

Several GOP candidates are distancing themselves from official White House policy on the issue of drug re-importation. Many are now embracing drug re-importation legislation claiming it would dramatically reduce the cost of pharmaceuticals. Congressmen up for re-election this year are especially vocal in their support, believing it will help attract the senior citizen vote. The house bill approving re-importation passed last July and a large number of Senators are eager to vote on it before their terms are up.

DeMint has Edge in South Carolina GOP Senate Race

Although Rep. Jim DeMint (R-SC) came in second to former Gov. David Beasley (R) following Tuesday’s Republican Primary, some Republicans are “privately” predicting DeMint will defeat Beasley for the Republican nomination. Thomas Ravenel, the third place finisher has endorsed DeMint giving him a combined percentage of 51 percent of the vote.

The primary boiled down to the issue of trade. Beasley, a protectionist, believes in keeping jobs in SC instead of moving them overseas. It is thought that this position will help his bid for the election. DeMint on the other hand has expressed unwavering support for free trade. Critics suggest this may backfire for Beasley because employment is up nationwide, according to the May jobs report published by the Labor Department.

The winner of the Republican nomination will face state Education Superintendent, Inez Tenenbaum (D). Tenenbaum, a moderate democrat, faces a tough campaign considering the conservative nature of SC. Republicans are expected to turn out heavily in November to vote for President Bush. The GOP nominee, whichever candidate wins, is expected to win the Senate seat.

Democrats Continue to Support Moran

Northern Virginia Democrats are lining up behind Rep. Jim Moran (D-VA). Moran easily defeated his primary opponent Andy Rosenberg, winning 59 percent of the vote despite allegations of anti-Semitism. Last year, Moran said “the leaders in the Jewish community could have averted the Iraq war.” His opponent in this House race will be Republican, Marie Cheney. She hopes to capitalize on Moran’s comments by reaching out to disgruntled Jewish voters. Despite the district’s democratic leanings, Cheney thinks it will be a competitive race citing Moran’s ability to get less than 60 percent of primary voters on Tuesday.

Washington Group's effort may prove successful in putting
Ronald Reagan on the $10 note

The Ronald Reagan Legacy Project, led by Grover Norquist, is currently working with members of Congress in order to place President Ronald Reagan on the $10 bill. The RRLP was established in 1997 to promote the legacy of our 40th President and it is the leading organization in Washington, DC on this subject. Washington “Insiders” say there is a good chance that the change RRLP is promoting will pass soon.

Why the $10 bill? There was some discussion of replacing Andrew Jackson on the $20 bill, but RRLP did not feel that it was appropriate to replace another President. The $10 bill, however, currently exhibits Alexander Hamilton, who is highly esteemed but is not a former President. Hamilton was the first Secretary of the Treasury as well as an author of The Federalist Papers.

Is there a precedent for this? Presidents Roosevelt, Eisenhower, and Kennedy were all placed on currency or coin within a year of their passing. President John F. Kennedy has over 750 items dedicated in his name. Dr. Martin Luther King Jr. has over 950 items dedicated in his memory. There are currently only 64 items dedicated to President Reagan.

The RRLP's primary goal is to honor Ronald Reagan on the $10 bill. However, if that does not pass, they may push to honor him on half of all dimes in circulation. Presently, there are approximately 88,615,000,000 dimes.

For more information on their efforts and to see a history of currency changes in the past 100 years, visit http://www.reaganlegacy.org