Global overcapacity in steel production can no longer be ignored. Foreign governments' intervention in steel markets has had a devastating impact on the U.S. industry.

The legislative chamber had a one-seat Democratic majority that became a one-seat Republican majority. He supports Democratic leadership in voting against oil and gas subsidies and Arctic National Wildlife Refuge drilling as well as by voting in favor of national standards to reduce oil consumption and spur the use of hydrogen-powered cars. Baucus admitted a few weeks later in June 2009 that it was a mistake to rule out a single payer plan because doing so alienated a large vocal constituency and left President Barack Obama’s proposal of a public health plan to compete with private insurers as the most liberal position.

As the current chairman of the Senate Committee on Finance Baucus has played an influential role in the debate over health care reform in the United States. Before his election to the Senate Baucus was a member of the United States House of Representatives from 1975 to 1978 representing Montana's (now defunct) 1st congressional district. He previously served in the Montana House of Representatives from 1973 to 1974.