Archive for the “Money” Category

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WASHINGTON — The Republican National Committee’s $5.5 million in July receipts includes a $900,000 insurance payment, helping boost anemic fundraising by the national party.

Federal campaign reports show that Democratic Party committees maintained a cash on hand advantage over their Republican counterparts as they entered the final three months before the election.

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WASHINGTON — President Barack Obama says Medicare will exist for many more years, thanks to new legislation that helped put the health care program for America’s seniors on stronger financial footing.

Seniors already are benefiting from that new health care law, said Obama, noting that many have received $250 rebates to help buy medicine, for example.

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WASHINGTON — Congress is moving rapidly just weeks before the start of the school year to speed billions of dollars in emergency education aid to states in hopes of reversing the layoffs of tens of thousands of teachers.

Some $10 billion in aid to school districts is set to flow after a 61-39 Senate vote Thursday — to be followed quickly by a House vote next week — in hopes that it will come in time for many school districts to reconsider teacher layoffs.

Thursday’s vote was a hard-earned but partial victory for Democrats and President Barack Obama. Advocates said it could save the jobs of up to 300,000 teachers, police and other public workers.

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Full Story at CNN.com

Washington (CNN) — The Obama administration will push for letting tax cuts for wealthy Americans expire while extending them for the rest of the nation, Treasury Secretary Tim Geithner said.

In interviews broadcast Sunday on ABC and NBC, Geithner called for a balanced approach as the economy recovers from the recession that started in 2008 while facing mounting federal debt.

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Full Story at msnbc.com

WASHINGTON — An epic fight is brewing over what Congress and President Obama should do about the expiring Bush tax cuts, with such substantial economic and political consequences that it could shape the fall elections and fiscal policy for years to come.

Democratic leaders, including Mr. Obama, say they are intent on letting the tax cuts for the wealthy expire as scheduled at the end of this year. But they have pledged to continue the lower tax rates for individuals earning less than $200,000 and families earning less than $250,000 — what Democrats call the middle class.

Most Republicans want to extend the tax cuts for everyone, and some Democrats agree, saying it would be unwise to raise taxes on anyone while the economy remains weak. If no action is taken, taxes on income, dividends, capital gains and estates would all rise.

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Full Story at politicalticker.BlogsCNN.com

Washington (CNN) – Senate Democratic leaders have concluded that the only way to pass critical war-funding before the fast-approaching August congressional recess is for the House to drop its insistence that the measure include billions of dollars for unrelated domestic programs, a top Senate Democratic leadership aide told CNN.

The extra money, which includes funds to help cash-strapped states avoid teacher layoffs, has drawn fire from Republicans who complain it’s a giveaway to the teachers’ unions.

The White House, which doesn’t oppose giving states money for teachers, also objects to the House legislation because it pays for the teacher initiative by cutting funding from President Obama’s “Race to the Top” education reform program.

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Full Story at msnbc.com

WASHINGTON — U.S. Secretary of State Hillary Rodham Clinton started a South Asia tour on Sunday aimed at refining the goals of the nearly 9-year-old war in Afghanistan and pushing neighboring nations to work together in the fight against al-Qaida and Taliban extremists.

Clinton landed in Islamabad where she will underscore the need for Afghan-Pakistani cooperation in winning the war but also announce plans to beef up U.S. development assistance to Pakistan, which is rife with anti-American sentiment.

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Full Story at news.Yahoo.com

WASHINGTON – More than 1.3 million laid-off workers won’t get their unemployment benefits reinstated before Congress goes on a weeklong vacation for Independence Day.

An additional 200,000 people who have been without a job for at least six months stand to lose their benefits each week, unless Congress acts.

For the third time in as many weeks, Republicans in the Senate successfully filibustered a bill Wednesday night to continue providing unemployment checks to people who been laid off for long stretches.

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Full Story at msnbc.com

WASHINGTON – House Democrats reached a compromise that would exempt the National Rifle Association and other large organizations from proposed campaign finance disclosure rules aimed primarily at large corporations, sources said Monday.

The deal paves the way for a House vote as soon as this week on the legislation, which is aimed at pushing back against a Supreme Court ruling

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Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — For the nation’s unemployed, here we go again.

The House voted Friday to extend the deadline to file for federal unemployment benefits, but not before the Senate recessed for a week-long Memorial Day break. So jobless Americans will start running out of benefits after June 2.

The Senate will take up the measure when it returns June 7, according to Senate Majority Leader Harry Reid, D-Nev.

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