Deficit Reduction News
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Treasury Secretary Jacob J. Lew said in an interview with Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, that he was briefed in March on an investigation of selective IRS screening of nonprofit groups though he didn’t learn details of the findings until last week.
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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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The scandal at the Internal Revenue Service reinforces the case for revising the U.S. tax code, Congress’s top tax writers said in an interview with Bloomberg Television.
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Fiat SpA, Renault SA and PSA Peugeot Citroen gained more than 5 percent on signs that governments may take measures to spur growth after the euro-area economy contracted more than forecast in the first quarter.
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French President Francois Hollande’s first anniversary in office today was marred by confirmation of France’s second recession in two years.
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The German economy expanded less than forecast in the first quarter and France slipped into recession, increasing pressure on the European Central Bank to do more to stimulate growth.
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Lawmakers who last year failed to complete a rewrite of U.S. agricultural policy will restart their effort this week with pressure building for even bigger cuts for farmers and food-stamp recipients.
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European policy makers expressed a willingness to consider new ways to revive their ailing economy as they confronted fresh U.S. pressure to take action.
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Global finance chiefs clashed over the correct speed of budget cutting as they sought fresh ways to rally the slowing world economy.
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Prime Minister David Cameron marks the third anniversary of his coalition government tomorrow and the U.K. economy is only starting to gather momentum.
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