Archive for May 4th, 2009
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Congress leery about Obama’s plan on tax loopholes (AP)
AP – President Barack Obama promised sternly on Monday to crack down on companies “that ship jobs overseas” and duck U.S. taxes with offshore havens. It won’t be easy. Democrats have been fighting and losing this battle since John F. Kennedy made a similar proposal in 1961. Obama’s proposal to close tax loopholes was a reliable applause line during the presidential campaign, but it got a lukewarm response Monday from Capitol Hill. -
U.S. House climate control negotiations intensify (Reuters)
Reuters – Negotiations in the U.S. House of Representatives on how to cut industrial pollutants that cause global warming reach a critical stage this week as President Barack Obama huddles with key lawmakers on Tuesday and Republicans ready for a fight. -
Hatch Says Obama Told Him He Wonât Pick âExtremistâ for Court (Bloomberg)
Bloomberg – May 5 (Bloomberg) — Republican Senator Orrin Hatch said
President Barack Obama told him he wonât nominate a âradical or
an extremistâ to replace retiring Justice David Souter on the
U.S. Supreme Court. -
Obama vows tougher overseas tax policies (Reuters)
Reuters – President Barack Obama vowed on Monday to overhaul tax policies that he said reward companies for shifting U.S. jobs overseas and allow wealthy people to evade taxes using offshore accounts. -
Leading US health expert urging cautious approach (AP)
AP – U.S. officials said Monday that it’s too early to say the swine-flu threat is receding, even though there are some signs the outbreak may not be as serious as originally feared. -
Sessions’ Move to Top GOP Seat Cheers Right (CQPolitics.com)
CQPolitics.com – Sen. Jeff Sessions’ selection as the Judiciary Committee’s top Republican has given a boost to conservatives, who are confident that he will represent their interests at the confirmation hearings for President Obama’s Supreme Court nominee.
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Corporate tax crackdown just a start
The Obama administration’s crackdown on tax haven use by U.S. companies is expected to raise the effective corporate tax rate by 1.5 percentage points to something north of 20%. That still leaves it well below its 1994 level.
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Israeli PM wants ‘triple track’ approach to peace (AP)
AP – Israel’s prime minister on Monday outlined a “triple track” approach to peace with the Palestinians, a strategy that emphasizes political, economic and security planks to resolve the decades-long conflict.
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Rice takes question from 4th-grader on torture (AP)
AP – Former Secretary of State Condoleezza Rice told Jewish elementary school students that the Bush administration did not use illegal interrogation tactics. Her remarks were in response to a question from Misha Lerner, a fourth-grader at the Jewish Primary Day School of the Nation’s Capital, The Washington Post reported Monday. -
Voters to select new Detroit mayor on Tuesday (AP)
AP – Voters head to the polls Tuesday to select their mayor for the next 7 1/2 months in a runoff election seen as key to restoring stability to Detroit amid a bleak fiscal situation.
