• An effort is building in Congress to change marijuana laws, including moves to legalize the industrial production of hemp and establish a federal pot tax.

  • Obama Seeks Closed Loopholes, 'Smart' Reductions Sunday, 3 Feb 2013 | 5:33 PM ET
    President Barack Obama addresses immigration reform on Jan. 29. 2013 in Las Vegas, Nevada.

    President Barack Obama said on Sunday more tax revenue would be needed to reduce the U.S. deficit and signaled he would push hard to get rid of loopholes such as the "carried interest" tax break enjoyed by private equity and hedge fund managers.

  • Obama Energy Secretary Steven Chu Resigning Friday, 1 Feb 2013 | 4:25 PM ET

    Energy Secretary Steven Chu, the Nobel-winning physicist who survived the uproar after the solar energy company Solyndra went bankrupt, is stepping down.

  • Tax Reform Will Be a 'Death Struggle': Alan Simpson Friday, 1 Feb 2013 | 1:56 PM ET
    Alan Simpson (l.) and Erskine Bowles

    Congress has done the easy part of deficit and debt reduction, but the more difficult decisions on controlling health care costs, reforming the tax code and fixing entitlements still lie ahead, Alan Simpson and Erskine Bowles told the TD Ameritrade conference on Friday.

  • Automatic Spending Cuts Threaten National Parks Friday, 1 Feb 2013 | 9:28 AM ET
    Mount Rushmore National Park

    If Congress can't agree on a deficit-reduction plan soon, vacationers heading to the country's national parks this spring and summer could find reduced staffs, shorter visiting hours and even closings.

  • Congress Clears Increase in Debt Limit Through May 18 Thursday, 31 Jan 2013 | 4:17 PM ET

    The Democratic-led Senate on Thursday approved must-do legislation to permit the government to borrow hundreds of billions of dollars more to meet its obligations, putting off one Washington showdown even as others loom in coming weeks.

  • The Five Highest Tax States for the Highest Earners Thursday, 31 Jan 2013 | 4:13 PM ET
    New Jersey Gov. Chris Christie struggles to balance his budget despite taxing his wealthiest citizens at one of the highest rates in the nation

    Virtually every state's tax system unfairly takes from those who make the least, says a new report. But which states take the most from their richest residents?

  • Hagel's Long, Bumpy Road to Confirmation     Thursday, 31 Jan 2013 | 4:00 PM ET
    Chuck Hagel testifies before the Senate Armed Services Committee during his confirmation hearing to become the secretary of defense.

    Former Nebraska Senator Chuck Hagel (R) faces a confirmation hearing in front of the Senate Armed Services Committee to become Defense Secretary. The decorated Vietnam War veteran faced tough questioning regarding some of his past votes and statements.

  • Kudlow: Spending Sequester Will Grow Private Economy Wednesday, 30 Jan 2013 | 5:06 PM ET

    The latest GDP report shows that falling government spending can coexist with rising private economic activity, Larry Kudlow says.

  • New Hawks and Doves at Fed Likely Won't Alter Policy Wednesday, 30 Jan 2013 | 9:01 AM ET

    The cast of voting members on the Fed's policy committee is changing, but Ben Bernanke will likely retain a solid majority for his drive to keep interest rates low well into the future despite critics who worry about the risks.

  • Obama: 'Now Is the Time' to Fix Immigration Laws Tuesday, 29 Jan 2013 | 3:48 PM ET
    President Barack Obama addresses immigration reform on Jan. 29. 2013 in Las Vegas, Nevada.

    President Obama called on Congress to make good on plans to overhaul the immigration system and offer a path to citizenship for millions of illegal immigrants. He said that if Congress is unable to act quickly, he will propose legislation and demand lawmakers vote on it.

  • Obama Transportation Secretary Ray LaHood Leaving Tuesday, 29 Jan 2013 | 10:04 AM ET
    Ray LaHood, U.S. secretary of transportation

    Transportation Secretary Ray LaHood, the only Republican still left in President Barack Obama's first-term Cabinet, says he plans to leave the Obama administration.

  • Stuck in Reverse, Detroit Edges Closer to Bankruptcy Tuesday, 29 Jan 2013 | 1:58 AM ET
    Bentley GT Speed Convertible

    At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered - including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.

  • A petitioner holds a US flag during a naturalization ceremony.

    A bipartisan group of leading senators unveiled an agreement Monday on the principles for a sweeping overhaul of the nation's immigration laws, including a path to citizenship for the 11 million illegal immigrants already in this country.

  • Pres. Obama's Recess Appointment Backlash     Monday, 28 Jan 2013 | 8:40 AM ET

    Sen. Mike Johanns, (R-NE), explains why he wants President Obama's recess appointments to the NLRB and CFPC to tender their resignations immediately.

  • Obama Recess Appointments 'Invalid': Appeals Court Friday, 25 Jan 2013 | 4:14 PM ET

    A federal appeals court has invalidated President Obama's "recess" appointments to a labor board last year, ruling that the move was unconstitutional and dealing a blow to Obama's strategy of bypassing Senate Republicans.

  • Obama Picks McDonough as White House Chief of Staff Friday, 25 Jan 2013 | 12:58 PM ET
    President Barack Obama (C) and White House Chief of Staff Jack Lew (R) applaud as Deputy National Security Adviser Denis McDonough (L) look on during a personnel announcement at the East Room of the White House

    President Obama has chosen longtime adviser and national security expert Denis McDonough as White House chief of staff.

  • Republican governors are moving to cut income taxes, including proposals that would increase reliance on state sales taxes, setting up ambitious experiments in tax reform that could shape what is possible on a national level.

  • Timothy Geithner

    To many, Geithner deserves credit for helping steady the banking system and helping restore investor confidence. Yet his toughest critics say his policies consistently favored big banks over struggling Americans.

  • Senate Leaders in Deal to (Sort of) Muzzle Filibusters Thursday, 24 Jan 2013 | 4:07 PM ET
    Mr. Smith Goes to Washington

    The Senate's senior Democrat and Republican reached a tentative agreement to impose modest limits on the filibuster, the delaying tactic that minority parties have long used to kill legislation and was immortalized in the film "Mr. Smith Goes to Washington."

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