A bipartisan group of U.S. senators is closing in on an agreement to expand background checks for gun purchases, a test of how far lawmakers may go to address gun violence after the shootings in Newtown, Connecticut.
President Barack Obama embraced much of the business community’s agenda last night, calling for progress on stalled trade pacts, investments in roads and education, reworking the corporate tax code, and freezing discretionary spending to cut the deficit.
Senator Saxby Chambliss said the U.S. House’s 2012 budget proposal by fellow Republican Paul Ryan is “not going to work” because it relies too heavily on spending cuts and doesn’t raise tax revenue to help cut the deficit.
Vice President Joe Biden set a goal of at least $1 trillion in budget cuts from negotiations with congressional leaders on the federal debt as talks turned to Medicare, a contentious issue that risks replicating a partisan divide on Capitol Hill.
With the U.S. government on the verge of a historic default, the country’s largest business lobbying group took to the halls of Congress last week to press lawmakers to support the Panama Free-Trade Agreement.