Narayana Kocherlakota of the Minneapolis Fed says the FOMC still has not lowered the "real" interest rate sufficiently, reports CNBC's Steve Liesman.» Read More
Narayana Kocherlakota of the Minneapolis Fed says the FOMC still has not lowered the "real" interest rate sufficiently, reports CNBC's Steve Liesman.
Congressional Republicans accused leaders of the IRS of lying as they opened the first in a series of hearings about the agency's targeting of conservative groups.
CNBC's Eamon Javers shares highlights from the hearing on the IRS snooping scandal.
Rep. Lloyd Doggett, (D-TX) asked acting IRS Commissioner J. Russell George, if he found the IRS "rotten at the core." And, Rep. Peter Roskam, (R-IL), queried ousted IRS chief Steven Miller whether he had a "duty" to come forward to the Ways and Means Committee with any information he had about the tax investigation before the Hearing. Rep. Mike Thompson, (D-CA), wanted to know the difference between "inappropriate" and "illegal" actions when reviewing tax cases. And, Rep. Jim Gerlach, (R-PA), challenged the assertion that confidential tax information was not shared outside the IRS.
CNBC's Eamon Javers and John Harwood provide insight from the House hearing on the IRS scandal, with ousted IRS chief Steven Miller and acting IRS commissioner J. Russell George.
Rep. Richard Neal, (D-MA), asks ousted IRS chief Steven Miller and acting IRS Commissioner J. Russell George, about the policies of 501(c) (4) tax-exempt status and political groups. Also, Rep. Pat Tiberi, (R-OH), wants to know why an educational group and book club was targeted by the IRS. "Foolish mistakes were made," said Rep. Xavier Becerra, (D-CA). And, Rep. Dave Reichert, (R-WA), wants to know whether groups were "treated differently" because of their political affiliations.
Rep. Charles Rangel, (D-NY), asks ousted IRS chief Steven Miller and acting IRS Commissioner J. Russell George, who was responsible for the tax scrutiny, and whether the tax law is written for "abuse." And, Rep. Paul Ryan, (R-MI), asks Steve Miller if he is misleading the Committee because he knew in previous testimony targeting was taking place. And, Rep. Jim McDermott, (D-WA), distinguished the difference between "stupid mistakes" and "malicious mistakes." Also, Rep. Devin Nunes, (R-CA), asks Steven Miller if he is willing to release his personal emails, phone records, and personal schedule from 2010 until his resignation.
Rep. David Camp, (R-MI), asks ousted IRS chief Steven Miller and acting IRS commissioner J. Russell George, when they became aware of the tax scandal and who informed them. Also, Rep. Sander Levin, (D-MI), asks if there was "political motivation" involved in singling out organizations for tax-exempt status. And, Rep. Charles Boustany, (R-LA), asks both witnesses if specific "targeting" was not involved, why it seems one political group was singled out. Rep. Joseph Crowley, (D-NY), points out that Steve Miller was not a political appointee of the IRS; and Rep.Kevin Brady, (R-TX), reveals how a tax audit impacted a small business woman and Tea Party member..
House Ways and Means Committee Chairman Dave Camp tells CNBC ahead of his panel's IRS scandal hearing that he wants to know who "hatched" the plan to target conservative groups.
CNBC's Eamon Javers provides the latest details on a House committee hearing with former acting IRS commissioner Steven Miller.
Rep. Charles Rangel, (D-NY), discusses which questions he wants answered when former acting IRS commissioner Steven Miller testifies later this morning before the House Ways and Means Committee.
Rep. Dave Camp, (R-MI), shares what he wants to hear from former acting IRS Commissioner Steven Miller, when he testifies before the House later this morning.
Tim Cook says he'll propose tax changes to encourage firms to bring home more of their offshore funds when he faces congressional queries over Apple's overseas cash holdings.
CNBC's John Harwood wraps up President Obama's comments today on the IRS scandal.
Congress wants answers on why the IRS targeted conservative groups, two senior politicians tell CNBC.
President Obama responds to questions about what he knew regarding the Inspector General report of the Internal Revenue Service. We're going to make sure we hold anyone involved accountable, he says.
Ron Kind and Tom Petri put forward a crop insurance reform plan Wednesday that they say will save the federal government $11 billion over the next 10 years. Kind, a Democrat, and Petri, a Republican, announced their plan as work continued in Congress on a new farm bill.
Rep. Charles Boustany tells CNBC he's confident Congress will follow the "paper trail" to hold to account those responsible for the IRS' targeting of conservative nonprofit groups.
The House is investigating targeting complaints in the wake of the Tea Party tax scandal. Rep. Charles Boustany, (R-LA), discusses.
Just six months after a heady re-election, President Obama's second-term dreams have collided with second-term reality: scandals and foreign setbacks. The NYT reports.