Setting the income threshold for ending the George W. Bush-era tax cuts at $1 million instead of $250,000 would raise $366 billion less over 10 years than the $829 billion envisioned under President Barack Obama’s proposal, according to a report released yesterday.
Former U.S. House Speaker Newt Gingrich rebuked House Minority Leader Nancy Pelosi for suggesting she would offer details of a 1990s ethics probe against him if he becomes the Republican presidential nominee.
The Republican chairman of the U.S. House tax-writing committee questioned why Obama administration spending estimates for insurance subsidies under the health-care law rose by $111 billion from a year ago.
The Republicans are poised to retake the U.S. House and narrow Democrats’ margin in the Senate, delivering a rebuke to President Barack Obama ’s party in a campaign shaped by voter anxiety over jobs and the economy.
The U.S. House of Representatives should support a Senate amendment to the financial overhaul bill that limits “swipe” fees charged to retailers who accept debit cards, a group of lawmakers told Speaker Nancy Pelosi .