Economy

  July 21, 2010, 6:30 pm

House delays final vote on UI until Thursday

By Vicki Needham

The House will delay until Thursday a vote on a $34 billion unemployment benefits extension bill that is expected to pass the Senate momentarily. 

The House is expected to take up the bill first thing Thursday, according to senior Democratic aides. 

The Senate’s late completion on the bill would likely push passage of the measure beyond midnight, House aides said. The House Rules Committee would need to provide an hour’s notice to Republicans to meet. The House would then have to debate the rule, vote on the rule, then debate the bill and take a final vote, probably amounting to at least four or five hours of time, aides said. 

—This story is developing. 

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  July 21, 2010, 6:16 pm

LeMieux seeks tweaks to small-business bill

By Jay Heflin

Sen. George LeMieux (R-Fla.) on Wednesday told reporters that his support for the small-business jobs bill could hinge on Democratic leaders tweaking the legislation to his liking. 

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  July 21, 2010, 5:57 pm

Effectiveness of TARP foreclosure program questioned

By Shira Poliak

Lawmakers and government watchdog groups are questioning the effectiveness of the Obama Administration’s Troubled Asset Relief Program (TARP) to prevent foreclosures.

They say that the Treasury department’s refusal to identify benchmarks, goals and expectations for the mortgage modification program indicates a lack of transparency and accountability. 

“Treasury still has not established proper goals or benchmarks for the program, meaning that there is no effective way for us to know if the $50 billion invested in the program is accomplishing what it set out to do,” said Sen. Chuck Grassley (R-Iowa), ranking member of the Senate Finance Committee. “That’s not accountability, that’s not transparency; it’s more taxpayer money flying out the window.”

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  July 21, 2010, 4:28 pm

Tax writers look to move currency bill in September

By Jay Heflin

The House Ways and Means Committee could move legislation combating currency manipulation when lawmakers return to Washington after the August break. 

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  July 21, 2010, 12:27 pm

Democrats, Republicans on the attack over unemployment benefits

By Vicki Needham
Verbal attacks continued Wednesday over the delay to pass an unemployment benefits extension that is expected to clear Congress later on Wednesday. 

Senate Democrats skewered Republicans for opting to use up all 30 hours of debate on the bill before taking a vote on final passage. 

Republicans launched their own arguments, painting Democrats and their legislative agenda as killing jobs. 

Senate Majority Leader Harry Reid (D-Nev.) called it "a dark day in the United States Senate, and some feel it brings shame to this institution," over Republican insistence to let the debate time expire before taking a final vote. 

"But more than that, it hurts the very people we were sent here to help," Reid said on the floor Wednesday morning.
Reid compared the delay to standing in front of a burning house and waiting to put out a fire. 

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  July 21, 2010, 11:04 am

Senate set to pass small-business bill

By Jay Heflin

Senate Small Business Chairwoman Mary Landrieu (D-La.) on Wednesday said her chamber will pass legislation by the end of the week that creates a $30 billion lending pool for small businesses and provides approximately $12 billion in tax relief for these organizations. 


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  July 20, 2010, 7:27 pm

House tax writers oppose stripping loan provision from small-business bill

By Jay Heflin

Leading tax-writers in the House on Tuesday balked at the notion that the Senate might strip the loan provision from its small-business bill in order to pass the legislation from their chamber. 

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  July 20, 2010, 7:07 pm

Snowe, Collins join Dems to close debate on benefits in 60-40 vote

By Vicki Needham

The Senate voted Tuesday to proceed to a final vote on an extension of unemployment benefits.

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Archived under: Senate, Finance & Economy, Economy
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  July 20, 2010, 6:53 pm

Brown deflects question on Warren

By J. Taylor Rushing

Centrist GOP Sen. Scott Brown (Mass.) deflected a question Tuesday about whether he would support the appointment of Elizabeth Warren to head the new consumer protection agency established by the Wall Street reform bill.

“I’m not comfortable commenting on prospective nominees because she hasn’t been appointed yet,” Brown told The Hill. “Once she is, I might have more to say.”

Meanwhile, Banking Committee Chairman Chris Dodd (D-Conn.), who ushered the Wall Street bill through his committee and the floor debate, said President Obama should resist the urge to appoint Warren during an upcoming congressional recess.

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Archived under: Finance & Economy, Economy
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  July 20, 2010, 4:12 pm

Senate Democrats seek alliance with conservative on small-business bill

By J. Taylor Rushing and Jay Heflin

Senate Democrats have reached out to one of the more conservative members of the GOP caucus to pass small-business legislation.


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