In a speech before the progressive think tank The Third Way, House Majority Leader Steny Hoyer (D-Md.) on Tuesday appeared to leave the door open to reigning in middle-class tax cuts enacted under President George W. Bush. 

"At a minimum, the House will not extend the tax cuts benefiting taxpayers of incomes above $250,000 despite some suggestions in the Senate that they be extended along with all other Bush tax cuts," he said. 

Senate Minority Leader Mitch McConnell (R-Ky.) took the statement to indicate that tax cuts benefiting those making less than that could also sunset. 

Doug Thornell, a spokesman for Rep. Chris Van Hollen (D-Md.), has called on the U.S. Chamber of Commerce to explain its ad that states the Disclose Act infringes upon First Amendment rights. 

"Let's be clear, the Disclose Act does nothing to limit free speech," he said, adding, "The Chamber should step forward and disclose who funded this piece. What do they have to hide?" 

Van Hollen is the bill's chief author. On Monday the Chamber began running an ad contending it hinders free speech and therefore counters what the founding fathers sought when drafting the First Amendment. 

A possible third iteration of the Senate's tax extenders bill has surfaced on K Street.

White House budget director Peter Orszag will resign, according to several news reports Monday night. 

Federal officials sent their third bill, for $51.4 million, to BP on Monday for the government's response to the oil spill in the Gulf of Mexico, bringing the total cost to nearly $123 million. 

So far, BP and other responsible parties have paid the federal government back for the first two bills, totaling nearly $71 million. That money is borrowed from the Oil Spill Liability Trust Fund, which has a roughly $1.6 billion balance. 

The U.S. Coast Guard is responsible for administering the trust fund to ensure that the groups responsible for oil spills pay the affected individuals and communities.  

BP, which is legally responsible for efforts to stop the oil leak, reduce the spread of oil, protect the shoreline and mitigate damages, as well as long-term recovery efforts, said Monday it has spent $2 billion for the costs of containment, cleanup and for the drilling of relief oil wells. 

Sens. Chuck Grassley (R-Iowa) and Kit Bond (R-Mo.) reiterated their concerns that there may be millions in "waste, fruad and abuse" in spending economic stimulus money on public housing. 

In a recent letter, Grassley and Bond asked Housing and Urban Development Department Secretary Shaun Donovan about the distribution of funds to public housing authorities. 

"Taxpayers deserve an answer to why the federal agency gave tens of millions in stimulus dollars to housing authorities it found to be ‘high risk,'" Grassley said in a release. "Is there so much pressure to shovel stimulus dollars out the door that responsible stewardship has been abandoned?"

In his first letter to HUD on March 15, Grassley questioned problems with a number of housing authorities that had been raised by the HUD Office of Inspector General and not adequately addressed in a HUD response, he said. 

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Treasury Secretary Timothy Geithner will testify Tuesday on Capitol Hill on the federal government's bailout of financial institutions. 

The Congressional Oversight Panel, created to oversee how Troubled Asset Relief Program (TARP) funds are spent, is meeting at 10 a.m. Tuesday. 

The Treasury Department on Friday announced that repayments to the TARP have for the first time surpassed the total amount of TARP funds that remain outstanding. 

The most recent report from Treasury shows that TARP repayments have hit $194 billion, exceeding the outstanding funds of $190 billion.

Treasury's sale of 1.5 billion shares of Citi stock that provided gross proceeds of $6.18 billion helped surpass the outstanding balance. Treasury expects additional sales of Citi stock to bring in additional cash. 

So far, taxpayers also have received $23 billion from dividends, interest and other income through TARP.

The U.S. Chamber of Commerce on Monday began running an ad opposing the Disclose Act, contending the bill hinders free speech and therefore counters what the founding fathers sought when drafting the First Amendment. 

"Our forefathers went to great lengths to protect the right to free speech for everyone," the ad states. "Yet the so-called Disclose Act does just the opposite." 

The Chamber contends the bill threatens free speech because it requires the names of chief supporters for political ads be disclosed.

The Treasury Department on Monday announced that 12 broker-dealers will work with Morgan Stanley in the Treasury's sale of Citigroup common stock.