The president vowed to focus the rest of his presidency on reducing income inequality.
On The Money
The House Democratic Steering and Policy Committee will hold a hearing Thursday morning on the looming expiration of federal emergency unemployment benefits.
House and Senate Democrats have introduced legislation that would provide for a yearlong reauthorization of the federal program that is available in all states, except North Carolina, and sets in once a worker has exhausted his or her state-level benefits, in most cases at around six months.
The program is set to lapse Dec. 28, leaving 1.3 million long-term unemployed workers without a weekly check.
The House voted Wednesday to amend the Dodd-Frank financial reform law with the help of 36 Democrats, even though the White House has threatened to veto the bill.
Sen. Patty Murray said an agreement could come soon after meeting with Rep. Paul Ryan.
A trio of financial industry groups have filed a lawsuit against the Commodity Futures Trading Commission, pushing back against new rules aimed at cracking down on derivatives abroad.
New home purchases rose sharply in October as the housing recovery chugs along, showing signs of picking up pace.
Sales of new homes increased 25.4 percent to a seasonally adjusted annual rate of 444,000, bouncing back from three months of declines, the Commerce Department said Wednesday.
The Treasury Department circulated new proposed regulations on Wednesday that seeks to end a tax loophole on dividends that helps offshore hedge funds.
Obama says reducing income inequality will be focus of rest of presidency.
Senate Agriculture chairwoman said Boehner’s pressure and comments were “not productive."
Three new Republicans on Wednesday were named to the powerful Appropriations Committee ahead of work on a possible omnibus spending package for fiscal 2014.