Tweet Progress is seen in the talks over government funding and payroll tax extension as House Speaker John Boehner, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell met for an hour in the Capitol last Wednesday. They didn’t say whether a compromise was met but the meeting is a good sign that the leaders are working with... 

Tweet The Senate failed to extend the payroll tax break last week but there are renewed efforts to push for a compromise measure. Republicans usually are in favor of any tax cuts but they helped defeat the payroll tax break extension attempts. They don’t like how to pay for the tax breaks. Democratic Senator Ben Cardin said that the Republicans have... 

Tweet Republican Senator Scott Brown of Massachusetts urged Senate Majority Leader Harry Reid to come out with compromise of the jobs bill for a vote. He said that he had a talk with Reid last Friday with regards to the lack of cooperation between the Republicans and Democrats in Congress. He urged the Senate Majority Leader to get the components of President... 

Tweet Senate Democrats amend President Barrack Obama’s jobs bill by adding a 5.6 percent tax on income over $1 million. The proposal will be more likely to be blocked by the Republicans. This new proposal picks up on White House’s lead that suggests that the wealthiest Americans are not paying enough taxes. The Senate Democrats’ $447 billion package... 

Tweet President Barack Obama and the Congressional leaders announced late Sunday that they have agreed on a deal that would cut trillions of dollars in government spending as well as increase its debt limit. The leaders would present the terms of their deal on Monday and they hope that it would be enacted before the August 2 deadline. Just as the President... 

Tweet States will be financially affected by any of the debt reduction deals that Congress would approve. This is according to the Federal Funds Information for States, a nonpartisan organization that records fiscal impact of federal budget deals on the states. The group has been sending questionnaires to governors across the nation to collect data about... 

Tweet Congressional leaders are scrambling to finalize their separate debt ceiling plans so that their colleagues can have the chance to vote on them as the August 2 deadline is fast approaching. Press secretary Jay Carney said that the deadline to raise the debt limit remains and the government could default on its obligations if Congress fails to increase... 

Tweet It looks like the difference between the Democrats and Republicans are narrowing as both parties scramble to prevent a financial default from happening. When the House Republican leadership unveiled its proposal, it was met with different reactions. The conservative members of the Republican Party didn’t like the plan made by Speaker John Boehner.... 

Tweet President Barack Obama wants the Congressional leaders to come out with a deal to decrease the federal definite but this brought uproar from the congressional Democrats who said that the president is backing down with his insistence that revenue increases and spending cuts should be included in the package. The White House told Democratic leaders... 

Tweet Senate’s Majority and Minority leaders proposed a plan that would give President Barack Obama the capability to raise the debt ceiling without the need for congressional approval. This is the best solution to prevent a federal default from happening. The plan was drafted jointly by Senate Majority Leader Harry Reid of Nevada and Senate Minority...