Renewing Bush tax cuts may slip to 2011: GOP Camp

WASHINGTON (Reuters) – The incoming Republican chairman of the powerful tax-writing committee in the House of Representatives said on Wednesday extending Bush-era tax cuts for all income groups could slip into next year if Democrats don’t compromise with Republicans. Read the full story from Reuters

Obama still hopes to repeal military ban on gays

WASHINGTON (Reuters) – President Barack Obama said on Wednesday he still hoped to end the ban on gays serving openly in the military, despite big electoral gains by Republicans, many of whom oppose repealing the restrictions. Read the full story from Reuters

Obama reaches out to Republicans on tax forms

WASHINGTON (Reuters) – President Barack Obama on Wednesday suggested working with Republicans on a provision of the new healthcare law that requires businesses to file tax forms on transactions worth more than $600. Read the full story from Reuters

Somber White House tries to put brave face on defeat

WASHINGTON (Reuters) – So much for criticism that Barack Obama doesn’t show emotion. On Wednesday the Democratic president’s mood was clear: somber, resigned, and chastened by the biggest political drubbing of his career. Read the full story from Reuters

Republicans capture House, gain in Senate

WASHINGTON (Reuters) – President Barack Obama faced a bleak political landscape on Wednesday after voters punished Democrats over high unemployment and a sluggish economic recovery, delivering a divided Congress in Tuesday’s midterm elections. Read the full story from Reuters

Sen. Harry Reid says willing to tweak healthcare law

WASHINGTON (Reuters) – Senate Majority Leader Harry Reid on Wednesday said he was willing to make tweaks to the landmark healthcare reform law enacted earlier this year over united Republican opposition. Read the full story from Reuters

Clinton warns of "resource curse" in Papua New Guinea

PORT MORESBY (Reuters) – Secretary of State Hillary Clinton on Wednesday offered to help Papua New Guinea create a sovereign wealth fund to manage its resource revenue and avoid a “resource curse” which could fuel conflict and corruption. Read the full story from Reuters

U.S. says open to fair criticism at U.N. rights forum

GENEVA (Reuters) – The United States is open to fair criticism of its human rights record, including racial discrimination and counterterrorism policies, when it is under U.N. scrutiny this week, a U.S. envoy said on Wednesday. Read the full story from Reuters

Republican election wave hits state houses

CHICAGO (Reuters) – The surge that gave Republicans control of the House of Representatives on Tuesday also hit state legislatures, giving Republicans power to potentially cement their hold in Congress for the next decade. Read the full story from Reuters

South Korea’s Lee says trade deal key test of U.S. will

SEOUL (Reuters) – South Korean President Lee Myung-bak said on Wednesday the United States will be sending an important message on its commitment to free trade if it finally advances a pact it signed with Seoul on opening their markets. Read the full story from Reuters