The chances of a deal between Democratic and Republican lawmakers that would overhaul the U.S. tax system, trim government spending and reform safety net spending programs appear to be fading.
And a spate of scandals, involving the Internal Revenue Service, security for the U.S. mission in Benghazi and the seizure of phone records from the Associated Press news agency, has distracted Congress and the White House. But, he said, "the chances that this Congress does anything useful, which were already low, are even lower."
WASHINGTON, Jan 30- U.S. corporations fear they will be the main course on a menu calling for hundreds of billions of dollars in new tax revenue that President Barack Obama is expected to seek in his annual budget proposal, expected within weeks.
WASHINGTON, Jan 19- President Barack Obama starts his second term in office facing unprecedented budget constraints that will challenge his ability to implement his economic vision.