Sen. Corker says he doesn't know of an option that would keep Fannie and Freddie as they now are.

Inspector general Russell George stressed that Treasury officials were only notified that an investigation was underway.

The job market is showing sustained signs of improvement with the unemployment rates in 40 states dropping in April, the most in six months. 

The jobless rate rose in only three states — Louisiana, Tennessee and North Dakota — and was unchanged in seven, the Labor Department reported on Friday. 

No state reported double-digit unemployment in April. 

At 9.6 percent, Nevada had the highest unemployment rate but it has dropped from 10.7 percent over the last year, the steepest decline of any state.

The House Oversight Committee will have a full house at its IRS hearing on Wednesday.

Lois Lerner, the IRS official who first disclosed the agency's targeting of Tea Party groups last week, has confirmed she will attend, a committee aide said. Lerner had declined, through an attorney, to make that clear before Friday, the aide said.

The IRS official will join the deputy Treasury secretary, Neal Wolin; the former IRS commissioner, Douglas Shulman; and Russell George, the Treasury inspector general who wrote the report detailing the IRS criteria that led Tea Party groups to get extra attention. Read more...

“Leader Pelosi is behind us. I’ve talked to her, and she will be supporting us,” Rep. Peterson said.

The office said the Obama plan would increase the deficit this year by $27 billion, to $669 billion.

Under the bill, the SEC would have to ensure the benefits of new rules outweigh their costs. 

Treasury Secretary Jack Lew on Friday urged congressional leaders to raise the debt limit as soon as possible.

Miller pushed back on Republicans who said the IRS was targeting conservatives, calling that a “loaded” statement.