House Defies Obama, Blocks Two-Month Payroll Tax Cut Extension

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Article By Richard Rubin, Bloomberg The U.S. House of Representatives rejected a two-month extension of an expiring payroll tax cut, escalating a clash with the Senate and President Barack Obama that may result in smaller paychecks for workers in January. In a 229-193 vote, the House requested formal negotiations on a payroll tax cut extension [...]

Senate Passes Two-Month Payroll Tax Cut Extension

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Article By Richard Cowan and Rachelle Younglai, Reuters The Senate overwhelmingly passed the legislation by a vote of 89-10. It is expected to be voted on by the House of Representatives next week, and if approved, will then go to Obama for his signature. The measure also would extend long-term unemployment benefits for another two [...]

Public Confidence in Congress Plunges to New Lows

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Article By Thomas Ferraro and Richard Cowan, Reuters The United States on Wednesday faced the prospect of an imminent government shutdown for the third time this year as a year-end fight between Republican and Democratic lawmakers in Congress over taxes and spending turned nastier. Democrats, led by President Barack Obama, are refusing to sign off [...]