Senate Majority Leader Chuck Schumer, D-N.Y., said lawmakers had reached a compromise on the proposed Inflation Reduction Act, which he believes will get the support of all Democrats in the upper chamber,
More
The Senate has passed a fiscal year 2016 budget that increases military funding and seeks a 10-year deficit reduction of $5.1 trillion without any tax increases, USA Today reported Friday. Susan Davis
More
In an interview with Federal News Radio, Sen. Mark Warner (D-Va.) said he thinks a deal to avert the fiscal cliff could start with tax rates higher then reform them lower. Warner
More
A bipartisan group of senators has sent a letter to Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.), saying Congress and the president should not wait until January
More
The Defense Department has submitted a draft budget plan to President Obama that includes the $450 billion in cuts required from the debt ceiling compromise, according to Bloomberg. It does not include
More
Reaction has poured in from the business and political communities regarding the congressional supercommittee‘s announcement Monday that it has failed to produce a deficit reduction proposal. Reaction from the business world primarily
More
High hopes that the congressional supercommittee charged with proposing a deficit reduction solution appear to be dashed as Republican and Democratic leaders of the panel are set to announce failure, according to
More
All will not be lost if negotiations go nowhere and the deficit reduction supercommittee fails to reach an agreement, according to Sen. Mark Warner (D-Va.). During an appearance on CNN’s “State of
More
The Defense Department could wrap up its internal discussions on cutting $260 billion from its budget over the next five years “in the coming weeks,” Defense Secretary Leon Panetta said Thursday. More
More
Defense Secretary Leon Panetta told lawmakers during a classified briefing he expects around half of the $450 billion in cuts to defense spending over the next 10 years to come from weapons programs,
More