U.S. Representative Jan Schakowsky, an Illinois Democrat and former member of President Barack Obama's deficit commission, discusses the prospects of a federal government shutdown when spending authority expires Friday.
The leaders of President Barack Obama ’s debt-reduction commission unveiled a revised $3.8 trillion savings plan as panel members signaled reluctance to reach a consensus to cut benefits and eliminate tax breaks.
Four months after reaching a bipartisan agreement to extend a payroll tax cut through 2012, U.S. lawmakers and President Barack Obama are showing little fervor for continuing the break, which puts about $1,000 a year in an average worker’s pocket.
Representative Paul Ryan was a pivotal figure in killing the 2010 Bowles-Simpson agreement, which Republican presidential candidate Mitt Romney now points to as a model for putting America’s fiscal house in order.
Two Republican senators on President Barack Obama ’s debt commission endorsed a plan by its co- chairmen, putting half of the 18-member panel on record in support of a $4 trillion budget-cutting proposal.
The pressure on General Motors Co. is mounting as Chief Executive Officer Mary Barra prepares to testify before Congress at 2 p.m. about why the automaker waited more than a decade to recall cars linked to 13 deaths.
A classified video of the assault on the U.S. consulate in Benghazi, Libya, shows a sudden attack by armed men who broke through the compound’s gates within minutes, according to lawmakers who saw the recording.
The U.S. House passed cybersecurity legislation backed by companies including Boeing Co. and AT&T Inc., defying a veto threat by President Barack Obama’s administration over what it called inadequate privacy protections.