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Liberals would raise Social Security tax

Liberals in Congress are proposing raising the payroll tax that funds Social Security, but only for people earning more than $250,000 a year.

The legislation is designed to keep the pension program solvent for the next 75 years, which is the standard used by government actuaries. The plan would put an additional $6.5 trillion into the Social Security Trust Fund over that period.

It also is intended to head off other efforts to overhaul Social Security or trim benefits, or to use its funds to help pay for debt reduction.

But with Republicans opposing tax increases, the measure seems to have little chance of passing. Still it does give liberals a chance to show their support for Social Security at a time when it seems under attack.


Black Caucus conference to feature Obama speech

The White House says President Obama plans to attend a Sept. 24 awards dinner at the Congressional Black Caucus Foundation’s annual legislative conference.

The awards dinner will honor Lisa Jackson, administrator of the Environmental Protection Agency; Rep. John Lewis, Georgia Democrat; and former heavyweight boxing champion George Foreman, among others.

The speech adds to the list of appearances before black and Hispanic groups by the president. In July, he spoke at the National Council of La Raza conference, and he was to attend the Congressional Hispanic Caucus gala Wednesday night in Washington.


GOP lawmakers oppose $500 billion in new borrowing

The Republican-controlled House has weighed in against raising the government’s borrowing limit by $500 billion, but the vote was really just a political show.

Legislation that President Obama signed last month raised the debt limit by $400 billion immediately. A second increase, this time by $500 billion, was to take effect this month unless both the House and Senate voted to block it.

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