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TPMDC Morning Roundup

Senate To Vote On Short-Term Funding Bill
CNN reports: " The Senate plans to vote Wednesday on a bill that would extend funding for the federal government by two more weeks while cutting $4 billion from current spending levels...Senators and aides from both parties said they expected it to pass Wednesday's vote and proceed to President Barack Obama for his signature to prevent a government shutdown after Friday, when the current spending resolution expires at midnight."

GOP Freshmen Flex Their Muscles
Politico reports: "A new POLITICO analysis of the 105 votes on amendments and final passage of the spending bill offers an accelerated introduction to the political leanings and policy preferences of a class that often moves in near lock step. The votes paint a portrait of a freshman class that is more aggressive on budget cutting than the Republican Conference as a whole, more hostile toward organized labor, less accepting of federal environmental protections and divided over how and when to cut funding for national defense, police forces and firefighting. And it's clear the vote-a-rama gave the freshmen a strong sense of both the potential and limits of their own collective clout."

Conceding Defeat This Time, Senate Dems Pledge To Win Next Round
The Hill reports: "Senate Democrats conceded Tuesday that House Republicans won round one of the budget fight, but they are vowing a bigger battle later this month. Anticipating that showdown, Senate Democratic leaders are scrambling to unify their caucus as their colleagues express starkly different opinions on the best strategy to pursue."

Obama To Propose Federal Property Board, Save $15 Billion
Reuters reports: "President Barack Obama on Wednesday will propose saving billions of taxpayer dollars through creation of an independent board to recommend the sale of federal property, an administration official said. Obama, who previewed the plan in his 2012 budget and State of the Union Address, will suggest naming the board from the private and public sector to make recommendations to Congress for rationalizing federal civilian real estate holdings."

A Tax Cut May Carve Into The Budgets Of 19 States
The New York Times reports: "Struggling states could lose as much as $5.3 billion in tax collections during the next few years in an unintended consequence of one of the lower-profile federal tax cuts that President Obama signed in December, according to a report released Tuesday. The tax-cut package the president signed in December is best known for extending the Bush-era tax rates for two years and giving a one-year payroll tax cut to most Americans. But it included a business tax cut that could blow a hole in state budgets: a provision allowing businesses to deduct the full value of new equipment purchases from their taxes through 2011."