11 Key Congressional Committees for Advisors to Worry About
As the election approaches, not just the White House and Congress are in play, but also control of congressional committees important to advisors and others in the financial services sector.
Moving Beyond the Supercommittee: Schwab Responds
The Schwab Center for Financial Research released a statement, 'Beyond the Supercommittee,' late Tuesday following the Joint Select Committee on Deficit Reduction’s failure to reach an agreement on how to reduce the debt over the next 10 years.
Shakespeare Nails the Supercommittee: News Analysis
Of the whole sorry saga, from the debt-ceiling deadline to the supercommittee deficit impasse, Shakespeare seemed to say of our national economic life that it is “a tale told by an idiot, full of sound and fury, signifying nothing."
Deficit Supercommittee: Are You Ready for More Political Football?
Everything you wanted to know about the Congressional supercommittee, and when its recommendations need to be made.
Lawmakers Push Financial Transaction Tax as Deficit Deadline Nears
With only two weeks left to reach a deal, lawmakers supporting the bill that would levy a tax on financial transactions urged the Joint Select Committee on Deficit Reduction in a Nov. 8 letter to adopt their proposal.
Bowles, Simpson Warning: Deficit Committee Must Cut More Than $1.2 Trillion
The two co-chairmen of the National Commission on Fiscal Responsibility and Reform warned lawmakers on Tuesday that any deal to reduce the federal budget deficit by no more than $1.2 trillion would “merely delay” the nation’s fiscal problems.
Social Security’s 3.6% Benefit Increase Scorned as Not Enough
For the first time since 2009, the U.S. government said Wednesday that it will raise Social Security benefits with a cost-of-living adjustment, up 3.6%, and the announcement was followed by praise—and criticism.
Senate Republicans on Finance Committee Urge Deficit Panel to Make Changes
Republican senators' recommendations to the Joint Select Committee on Deficit Reduction include repealing the Alternative Minimum Tax and the health-care law and reforming Social Security.
Bernanke Warns Congress: Weak Recovery in Danger of Dying
Fed Chairman Ben Bernanke testified before the Joint Economic Committee on Tuesday, telling Congress the recovery isn’t what he hoped, and is now in danger of faltering.
CBO Chief Warns Deficit Committee: Tax Policy on Road to Ruin
CBO Director Douglas Elmendorf testified before the congressional super committee on deficit reduction, saying the economy will not be able to sustain its current level of spending with the tax cuts now in place as the population ages and health-care costs grow.