US capitol.jpg

The U.S. Capitol, as seen from above the below-ground visitors center.

(J. Scott Applewhite/AP)

Some of this week's news from Oregon's congressional delegation:

TAX REFORM

:

Senate Finance Chairman Ron Wyden, D-Ore.

, cited a new report showing a big increase in untaxed U.S. corporate profits held overseas as another important reason for serious tax reform.

The new report from a private research firm showed that profits held overseas to avoid U.S. taxation

, according to a report in Reuters.

The new figures "certainly highlight what is one of the key challenges for tax reform.

I do think there need to be some reforms in this area," Wyden said, according to Reuters.

Wyden has previously called for changing tax law to avoid the offshore deferral along with a one-time lower rate to bring past profits back to the U.S.

The senator, who became chairman earlier this year, has long promoted a sweeping rewrite of the U.S. tax code, which he has famously complained is " a rotten carcass that the special interests feast on .

"

UNEMPLOYMENT INSURANCE :

Not surprisingly, Wyden and Sen.

Jeff Merkley, D-Ore.

, both voted for Senate passage of a bill extending long-term unemployment insurance .

Merkley, in particular, helped negotiate the deal that brought Senate passage and called it "a stronger bridge for periods of high unemployment.

"

The measure now faces an uncertain fate in the Republican-led House.

HOUSE BUDGET :

Speaking of the House, the chamber passed a proposed federal budget authored by Rep.

Paul Ryan, R-Wisc.

, that spark strong partisan divisions.

Check out these quotes from the Oregon delegation.

Today, I voted for a budget that will reduce spending by more than $5 trillion and lead to a balanced budget without raising taxes on working Oregonians. Of all the threats that face our nation, few loom larger than the ever-growing federal debt and the impact it has on jobs and our economy.

“This budget cuts nutritional programs, child care, and housing assistance,” Bonamici said. “There’s no investment in the middle class; instead the proposal indiscriminately slashes programs like Head Start and Pell grants in order to make way for large tax cuts for the wealthy. ”

MOUNT RONALD REAGAN :

The House Natural Resources Committee passed a bill to name a a part of Frenchman Mountain near Las Vegas after former President Ronald Reagan.

Rep.

Peter DeFazio, D-Ore.

, never one to pass up a good moment for snark, had a different suggestion:

After all, he said, that was where the Reagan administration fought mightily to put a nuclear waste repository over the objections of Nevadans.

Not surprisingly, DeFazio's amendment to do exactly that was rejected by the Republican majority on the committee.