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White House Fires Back On Ads Against A Consumer Agency
WASHINGTON: A top White House adviser said Friday that business opponents of President Obama’s plan to create an agency to protect financial consumers are trying to “scare people.”Larry Summers, director of Obama’s National Economic Council, criticized an ad campaign by the U.S. Chamber of Commerce for suggesting that a new consumer agency will hurt small… »
White House May Push Health-care Reform Without Republicans
WASHINGTON (CNN) — The Obama administration is looking hard at pushing through a health-care reform bill without Republican backing, top Democrats close to the White House have told CNN.The Democratic majority in the Senate has been stymied in the health-care debate by Republicans and conservative Democrats, leaving them short of the 60-vote “filibuster-proof” margin needed… »
House Democrat Got Countrywide Loans
NEW YORK (Reuters) — A leading Democrat in the U.S. House of Representatives who has rebuffed Republican efforts to subpoena records of a mortgage program for favored borrowers at Countrywide Financial Corp. got home loans from that lender, the Wall Street Journal reported Friday.Representative Edolphus Towns, chairman of the House Oversight and Government Reform… »
US House Backs Bill To Slap Curbs On Executive Pay
WASHINGTON (Reuters) — Government regulators could prohibit incentive-based pay packages at large U.S. financial institutions that encourage “inappropriate risks” under a bill approved Friday by the U.S. House.Heading next to the Senate, where its outlook is uncertain, the bill would also give shareholders in public corporations the right to cast annual, non-binding votes on executive… »
House OKs 2 Billion More For Cash For Clunkers Program
NEW YORK: The House on Friday passed a bill to allocate another 2 billion to the Cash for Clunkers program.The move came after reports on Thursday had raised concerns that the program was out of money.The bill which diverts 2 billion from a U.S. Department of Energy program loan guarantee program, passed 316-109. The bill… »
White House Hits Report Seeing Few Savings In Medicare Plan
WASHINGTON (CNN) — The White House has criticized the Congressional Budget Office’s findings that the Obama administration’s proposal to control Medicare costs would yield a moderate savings of 2 billion over the next decade.White House Budget Director Peter Orszag said the CBO’s analysis — which it relayed to House Majority Leader Steny Hoyer on Saturday… »
White House Staffers Safe From Obamas Proposed Tax Hike
WASHINGTON (CNN) — President Barack Obama’s White House staff appears to be safe from a tax increase, for now.The White House on Wednesday issued its annual report to Congress listing the salaries of all staff, revealing that everyone gets paid less than 200,000.During the election campaign, Obama promised no income tax increase for anyone making… »
House Passes Sweeping Energy Climate Change Bill
NEW YORK: The House approved a sweeping energy and climate bill Friday which could for the first time usher in widespread government restrictions on greenhouse gases and help renewable energy become cost competitive with fossil fuels.The central part of the legislation limits the amount of carbon dioxide, the main gas behind global warming, that companies… »
House GOP Outlines Health Care Reform Bill
WASHINGTON (CNN) — House Republicans on Wednesday presented what they called a “sorely needed” alternative to Democrats’ proposals to overhaul health care.Republicans want to make sure all Americans have access to affordable coverage, Rep. Eric Cantor, the House minority whip, said Wednesday.”We do so by making sure we keep down costs and incorporate the ability… »
House Passes cash For Clunkers To Boost New Car Sales
WASHINGTON: The House on Tuesday waded deeper into the rescue of the troubled auto industry when it passed a 4 billion plan to subsidize new cars sales for consumers who scrap old ones.By a vote of 298-119, the House approved the “cash for clunkers” program. The measure would give consumers vouchers worth as much as… »