U.S. Attorney General Eric Holder said on Tuesday he had ordered the FBI to open a criminal probe in a growing scandal over the Internal Revenue Service's targeting of conservative political groups.» Read More
Nov 27- The U.S. Congress advanced by inches on Tuesday toward compromise on taxes and spending, but a firm deal to avert the "fiscal cliff" at the end of the year still seemed miles away, despite growing pressure from business interests for action. Without action by Congress, the Bush tax cuts will expire at year-end and rates will go up for most taxpayers.
WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.
WASHINGTON, Nov 1- A U.S. government agency has withdrawn a report that challenged Republican ideas about taxes and economic growth- an action that drew fire from Democrats who accused it on Thursday of bowing to political pressure.
WASHINGTON, Oct 28- The United States runs the risk of a recession far deeper than many investors and policymakers may think if lawmakers fail to avert looming tax hikes and cuts to public spending.
WASHINGTON, Oct 24- President Barack Obama says he's confident that if re-elected he will secure within six months a deficit-reduction deal with Republicans equivalent to the ``grand bargain'' he failed to achieve last year. After the newspaper complained in a blog, the White House relented and released a transcript of the interview on Wednesday.
But Jay Carney, the president's press secretary, said it was only a restatement of his long-held position that the cuts were ``never meant to be implemented'' and that Obama is confident Congress will avoid them. ``First of all, the sequester is not something that I've proposed,'' he said. ``It is something that Congress has proposed.
WASHINGTON, Oct 23- President Barack Obama caught Capitol Hill by surprise with his comment that automatic spending cuts looming in January ``will not happen,'' kindling hope among Democrats but doubt among Republicans that he has a viable plan to replace them.
As the presidential election campaign grinds into November, Republican and Democratic lawmakers are busily hammering their own pitons into the fiscal cliff — staking out routes that could either force compromise or snap the economy’s safety lines.
Speaker John Boehner says the House will vote Friday on a GOP bill preventing interest rates on federal student loans from doubling this summer. But the legislation will be paid for by cutting money from President Barack Obama's health care overhaul law.
The Republican presidential primary has practically been decided with an “almost-certain nominee,” Sen. Mitch McConnell said Thursday.
President Obama is set to deliver his annual State of the Union address Tuesday night, but he shouldn’t expect a lot of Republican cooperation. Republicans aren’t interested in doing more things that don’t work, says Senate Minority Leader Mitch McConnell.
Sen Mitch McConnell, Senate Republican Leader, (R-KY) discusses what he hopes to hear from President Obama in his State of the Union address, and whether he expects divisiveness to continue in Congress.
The office of Minority Leader Mitch McConnell has issued a swift response to Warren Buffett's offer to match three-for-one any contribution McConnell makes to reduce the deficit. A spokesman suggests that Buffett should be matching contributions "from those who actually want to pay higher taxes, including Congressional Democrats, the President and the DNC."
Warren Buffett has a challenge for Senate Minority Leader Mitch McConnell, telling Time he'll match three-for-one any voluntary donations McConnell makes to reduce the federal deficit. It's a response to McConnell's criticism of Buffett's call for higher tax rates on the super-rich.
The GOP-led House rejected a Senate bill to extend the payroll-tax cut for two months, putting the two chambers on yet-another collision course with millions of Americans facing tax increases and cuts in jobless benefits if the dispute is not resolved by year-end.
The U.S. House of Representatives will vote sometime Tuesday on a Republican plan calling for new negotiations with the Senate on extending a payroll tax cut now set to expire on Dec. 31, House lawmakers said on Monday.
Republicans are prepared to extend the payroll tax cuts for another year, but Democrats conceding on the so-called “millionaires tax” would not likely be enough to reach an agreement on a deal, says Senate Minority Leader Mitch McConnell.
Are Republicans prepared to extend unemployment benefits, if the Democrats agree to the Keystone pipeline? Discussing the ongoing payroll tax stalemate on Capitol Hill, with Sen. Mitch McConnell, (R-KY).
A wide-ranging discussion on the "millionaire tax", China trade; and creating jobs, with Sen. Mitch McConnell, (R-KY), who says the U.S. is not going to get out of its economic slump with government spending money, and Rep. Eric Cantor, (R-VA) defends his position on the jobs bills.
Republicans are accusing President Obama of waging "class warfare" with his proposal for a new "Buffett Rule" that would create a minimum tax rate for anyone making more than one million dollars a year.