Republican Senator Jon Kyl said he is optimistic that his party can work with President Barack Obama to find common ground on overhauling the U.S. tax system, including changes to corporate and individual rates.
Senator Jon Kyl of Arizona, the No. 2 Republican leader, is withdrawing from today’s deficit- reduction talks with Vice President Joe Biden, one of his aides said, a decision that means the only two Republican party participants won’t attend.
Representative James Clyburn of South Carolina, the third-ranking U.S. House Democratic leader, in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” airing this weekend, predicted that negotiators will agree on a plan to cut $3 trillion to $6 trillion in U.S. spending in time to raise the debt limit before an Aug. 2 deadline.
President Barack Obama likely will directly engage in talks on cutting budget deficits, his spokesman said, after a deadlock over taxes caused two Republicans to drop out of negotiations led by Vice President Joe Biden.
China Development Bank Corp. ’s private-equity unit sports three bronze busts of Communist Party leaders in its Beijing lobby. Chairman Mao Zedong is there, and so is his eventual successor as leader, Deng Xiaoping . Then there’s Chen Yun, once China’s top economic planner.