House Takes Up Senate’s Fiscal Cliff Bill
Legislation to negate a fiscal cliff of across-the-board tax increases and sweeping spending cuts to the Pentagon and other government agencies is headed to the GOP-dominated House after bipartisan, middle-of-the-night approval in the Senate.
Reid, Boehner Reach Short-Term Spending Deal
The top Republican and Democrat on Capitol Hill have announced an agreement to keep the government running on autopilot for six months when the current budget year ends on Sept. 30.
CBO Report: Wealthiest Americans’ Income Growth Outpaces Middle Class
The CBO reports that the richest 1% of Americans have been getting far richer over the last three decades while the middle class and poor have seen their after-tax household income crawl up in comparison.
Biden ‘Confident’ on Deficit Cuts as Senate Votes to Keep Ethanol Subsidy
Even as Vice President Joe Biden gave his most optimistic assessment yet of budget talks he's leading, President Barack Obama's Democratic allies in the Senate signaled Tuesday a harder line on Medicare.
Senate Sends Obama Stopgap GOP Spending Bill
The Senate on Wednesday sent President Barack Obama a Republican-drafted stopgap funding bill that trims $4 billion from the budget, completing hastily processed legislation designed to keep partisan divisions from forcing a government shutdown.
Senate Democrats Agree to GOP Spending Cuts, Avert Shutdown Through March 18
The House was poised Tuesday to pass legislation cutting federal spending by $4 billion and averting a government shutdown for two weeks--Senate Democrats, yielding to the inevitable, said they would go along.