Republicans

Tax showdown clears way for yearend deal

Tax showdown clears way for yearend deal

Senate Republicans derailed legislation Saturday to extend expiring tax cuts at all but the highest income levels in a political showdown that paradoxically clears a path for a compromise with the White House on steps to boost the economy. “We need to get this resolved and I’m confident we can do it,” President Barack Obama […]

To spend or not to spend…that is Obama’s question

To spend or not to spend…that is Obama’s question

In less than three hours, the extraordinary forces tugging at Barack Obama‘s presidency — and the Republicans who will soon take more control of Congress — came into sharp relief: a sky-high jobless rate, an out-of-control deficit and pressure to keep taxes down. Together, they illustrate the difficulty of balancing immediate, costly fixes for the […]

Suddenly, a rally behind tax cuts

Suddenly, a rally behind tax cuts

Defying expectations, a bipartisan majority of President Barack Obama‘s deficit commission has rallied behind the panel’s controversial deficit-slashing proposals. A key Obama ally, liberal Democratic Sen. Dick Durbin of Illinois, endorsed the plan Thursday night, joining two of the Senate’s most conservative Republicans. The plan now has public commitments of support from a majority of […]

Obama, Republicans to meet but don’t expect much

Obama, Republicans to meet but don’t expect much

A House Republican leader heading into a postelection meeting with President Barack Obama Tuesday said the GOP remains steadfastly opposed to any tax increases. House GOP Whip Eric Cantor said his party wants to “make sure no one gets a tax hike while we’re trying to create jobs in the private sector.” Cantor, who will […]

Obama plays Annie: ‘The sun will come out tomorrow’

Obama plays Annie: ‘The sun will come out tomorrow’

Saying America has a history of doing what it takes to make a better tomorrow, President Barack Obama is calling on a country climbing out of its worst economic slump in decades to summon that spirit again this holiday season. “This is not the hardest Thanksgiving America has ever faced. But as long as many […]

Reid ready to deal on Bush-era tax breaks

Reid ready to deal on Bush-era tax breaks

The top Democrat in the Senate said on Tuesday he was willing to consider a temporary tax cut extension for all income levels, a step that could pave the way for a possible deal with Republicans on Bush-era tax cuts. “This is something we will take a look at,” Senate Majority Leader Harry Reid told […]

Democrats cut deal to avoid leadership battle

Democrats cut deal to avoid leadership battle

House Democrats averted a messy leadership struggle, clearing the way for Maryland Rep. Steny Hoyer to become second in command of their new minority without a challenge from South Carolina Rep. James Clyburn. Under an arrangement worked out in private, officials said late Friday that Clyburn would instead receive a new position, title unknown and […]

Deficit commission challenges conventional wisdom on budget

Deficit commission challenges conventional wisdom on budget

The leaders of the deficit commission are baldly calling out the budget myths of both political parties, challenging lawmakers to engage in the “adult conversation” they say they want. Their plan — mixing painful cuts to Social Security and Medicare with big tax increases — has no chance of enactment as written, certainly not as […]

GOP plans full-scale attack on Obama’s agenda

GOP plans full-scale attack on Obama’s agenda

Victorious at the polls, congressional Republicans asserted their newfound political strength on Thursday, vowing to seek a quick $100 billion in federal spending cuts and force repeated votes on the repeal of President Barack Obama‘s prized health care overhaul. At the White Houses, Obama said his administration was ready to work across party lines in […]

Obama to GOP: Let’s extend middle class tax cuts

Obama to GOP: Let’s extend middle class tax cuts

President Barack Obama is appealing to victorious Republicans to go along with his plan to extend tax cuts for the middle class, saying the election is over and it’s time to down to business. But it’s not fair, he says, to make permanent the Bush-era cuts for the wealthiest because that would require the U.S. […]