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United States Senate Committee On Finance
Latest United States Senate Committee On Finance Items
BP's humbled CEO sat grim-faced Thursday as a House chairman accused him of being oblivious to the risks of the company's deep water operations. Tony Hayward later told Congress he was "deeply sorry" for his company's catastrophic oil disaster in the Gulf of Mexico.
The Senate on Wednesday rejected a $140 billion tax cuts and spending package in a resounding defeat for President Obama and Democratic leaders, sending a signal deficits are starting to take priority over new stimulus spending on Capitol Hill.
Senators voted overwhelming Thursday to say they don't want to create a new value-added tax, or VAT, in a vote designed to take the wind out of an idea that had been circulating among policymakers for the last several weeks.
Saying the "stars are aligned," President Obama said Wednesday that Congress must send him a health care bill this year, and House Speaker Nancy Pelosi promised her chamber would vote on one before August.
The Senate on Thursday voted unanimously to preserve the full charitable-giving deduction in the tax code, rejecting yet another key part of President Obama's strategy for paying for the ambitious spending programs in his 2010 budget.
With his pledges of bipartisanship hanging in the balance, President Obama visited Capitol Hill on Tuesday to pressure both Republicans and Democrats to support his economic recovery plan.
President-elect Barack Obama's Treasury Secretary nominee, who would oversee the Internal Revenue Service, failed to pay nearly $35,000 in federal taxes from 2001 to 2004 and has a history of mistakes and late-filing, senators preparing to vote on the pick said Tuesday.
RICHMOND (AP) — Balancing a state budget thrown out of whack by a softening national economy and tepid revenue collections is the biggest challenge facing legislators at the procedural midpoint of the 2008 General Assembly.
Top Senate Democrats say they are determined to expand the $146 billion economic-stimulus plan, ignoring White House warnings that it could kill the bipartisan deal brokered in the House.