The budget President Obama will issue today stands little chance of being adopted, serving instead as his opening bid in a showdown with Tea Party Republicans that will reach a boiling point when the government runs out of money in three weeks. With this year’s deficit estimated at a record $1.5 trillion, newly elected House [...]
The Senate on Saturday rejected President Obama’s proposal to extend the Bush-era tax breaks for all but the wealthiest taxpayers, sealing a triumph for Republicans who have long called for continuing the income tax cuts for everyone. The Senate’s verdict set the stage for a possible deal in the coming days to extend the reduced [...]
Senate Democrats are trying to jump-start their stalled election-year jobs agenda while saving unemployment benefits for hundreds of thousands of laid-off workers. The latest plan combines in one bill the unemployment benefits with an extension of a popular tax credit for people who buy new homes. Democrats are still a vote short of the 60 [...]
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