WASHINGTON, Nov 4 (Reuters) – The U.S Congress fell to new
depths of public disapproval in the past two years, yet no big
shake-up of the Senate or House of Representatives is expected
in Tuesday’s general election.
With days remaining before the vote, Democrats were expected
to fend off what is seen as a fading Republican challenge for
control of the Senate, with a 50-50 tie also a possibility.
(Reuters) – Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of Atlantic City, but the resort’s casino companies wager they could be back in business within days.
The storm that swept up the East Coast of the United States on Monday made landfall near Atlantic City, ripping up several blocks of its famous boardwalk and tearing roofing off casinos and hotels.
WASHINGTON (Reuters) – A U.S. debt-ceiling increase could be headed for a Wall Street-rattling showdown in 2013 if Congress, as expected, shuns a quick and easy fix at the end of this year in favor of another round of last-minute brinkmanship.
Regardless of who wins the November 6 elections, many congressional aides and Capitol Hill observers are predicting that lawmakers will go right up to the deadline – probably around mid-February or early March – before increasing the $16.4 trillion limit on borrowing that is nearly exhausted.
WASHINGTON (Reuters) – An idea percolating in the Congress, aimed at helping avoid the “fiscal cliff,” would scrap the steep across-the-board spending cuts of $109 billion set to start on January 2 and replace them with more targeted savings of about $55 billion, according to aides familiar with the discussions.
Further measures to reduce the deficit would be considered later in 2013 under this approach.
WASHINGTON, Oct 12 (Reuters) – The Obama administration said
on Friday it has not changed its stance on letting tax rates
rise at year-end for high-income Americans, despite comments
from Vice President Joe Biden in Thursday night’s debate that
seemed to suggest a shift.
“Our position on the Bush tax cuts has not changed,” White
House spokesman Jay Carney told reporters on Friday, referring
to the expiration in 2013 of tax cuts enacted a decade ago under
Republican President George W. Bush.
WASHINGTON, Oct 12 (Reuters) – Did Vice-President Joe Biden
shift on the Obama administration’s tax increase plan for the
And if he did, was it a signal that Democrats are offering
to strike a quick deal with Republicans on one of the most
difficult year-end fiscal decisions Washington faces?
WASHINGTON (Reuters) – The U.S. Capitol is nearly empty, President Barack Obama is spending most of his time away from the White House in a final push for re-election and top American CEOs are getting nervous.
Unlike the typical election year, however, Congress faces a December 31 deadline for coming up with some sort of substitute for the dreaded “fiscal cliff” – about $500 billion worth of tax increases and $109 billion in government spending cuts due to start on January 2.
WASHINGTON (Reuters) – The independent watchdog group Taxpayers for Common Sense will unveil a $2 trillion deficit-reduction proposal in hopes of averting an economic debacle at year’s end known as the fiscal cliff.
On Monday, the group plans to detail about 130 specific deficit-reduction steps the U.S. Congress could take to replace across-the-board spending cuts of $1.2 trillion that are scheduled to take effect on January 2. These would occur just as tax increases for all income groups are due to kick in.
WASHINGTON, Sept 19 (Reuters) – A third Republican U.S.
Senate candidate on Wednesday rejected Mitt Romney’s
characterization of nearly half the country as slackers, but
other party lawmakers voiced support for their struggling
Republican members of Congress said Romney was making a
valid point, though not artfully stated, when he said that 47
percent of Americans pay no federal income tax and feel entitled
to federal assistance.
WASHINGTON (Reuters) – The top Republican in the U.S. Congress said on Tuesday he had no confidence a divided Washington could avoid a “fiscal cliff” that threatens to push the nation into a recession, but the top Democrat voiced optimism there would be a deal.
“I’m not confident at all,” House of Representatives Speaker John Boehner said, accusing President Barack Obama of failing to provide needed leadership.