Boehner surrenders in tax showdown

2011-12-22T19:30:33Z

WASHINGTON (Reuters) - House Speaker John Boehner caved in to growing criticism from within and outside his Republican Party, agreeing on Thursday to a short-term deal to extend a payroll tax cut for 160 million Americans.

In a dramatic reversal that appeared to end a standoff with Democrats, Boehner told

Speaker Boehner surrenders in tax showdown

2011-12-22T19:00:12Z

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner caved in to growing criticism from within and outside his Republican Party, agreeing on Thursday to a short-term deal to extend a payroll tax cut for 160 million Americans.

In a dramatic reversal that appeared to end a standoff with Democrats, Boehner told...

Speaker Boehner bows to pressure on tax deal

2011-12-22T16:00:20Z

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner on Thursday caved in to a growing chorus of criticism from both within and outside his Republican party and agreed to a short-term deal to extend a payroll tax cut for 160 million Americans.

In a major reversal that appeared to end a standoff with Democrats

Drop in US jobless claims raises hopes for economy

2011-12-22T14:30:40Z

Fewer Americans turned to the government for unemployment benefits last week than at any time since the 2008 meltdown, raising hope the economy is nearing cruising speed, as well as fears of another false start.

New claims for jobless benefits fell to the lowest level since April 2008, the Labor Department said Thursday, reporting fewer layoffs in most states.

"This is great news," said Ian Shepherdson...

Speaker Boehner succumbs on tax deal

2011-12-22T14:30:21Z

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner on Thursday bowed to pressure from both within and outside his party and agreed to a short-term deal to extend a payroll tax cut for 160 million Americans.

In what could be an end to a toxic stalemate, Boehner informed Reuters) - House of Representatives Speaker John Boehner has informed Senate Majority Leader Harry Reid that he will set a vote in the House on a Senate-passed two-...

Impasse broken in House on payroll tax cut: Senate aide

2011-12-22T13:30:08Z

WASHINGTON (Reuters) - House of Representatives Speaker John Boehner has informed Senate Majority Leader Harry Reid that he will set a vote in the House on a Senate-passed two-...

Senate Republican McConnell tries to end tax impasse

2011-12-22T13:00:25Z

WASHINGTON, Dec 22 (Reuters) - The top Senate Republican on Thursday sought to break a year-end stalemate with Democrats over extending a payroll tax cut for 160 million Americans, an issue that has split his party and raised the risk of a U.S. economic downturn in 2012.

Reuters) - The top Senate Republican on Thursday sought to break a year-end stalemate with Democrats over extending a payroll tax cut for 160 million Americans, an issue that has split his party and raised the risk of a U.S. economic downturn in 2012.

Reuters) - With House of Representatives Republicans under attack from friends and foes, Democrats held out for victory in a fight over extending a payroll tax cut for millions of workers that is set to expire at year's end.

"He (House Reuters) - In a bid to end a worsening standoff over extending a tax break for Americans, President Barack Obama called on Republican House of Representatives Speaker John...

White House takes tax fight to Twitter

2011-12-21T15:30:39Z

The White House has taken its battle with Republican lawmakers over a crucial tax extension to Twitter, inviting Americans to weigh in on what the extra $40 per paycheck means to them.

US President Barack Obama has scolded Republ...

Analysis: Republicans risk backlash in 2012

2011-12-21T15:30:19Z

(Reuters) - They began this year vowing to slash spending and reduce government.

Republicans in Congress can boast that they have done just that: As 2011 ends, they have wrung $2 trillion in spending cuts from Democrats without conceding a penny in tax increases.

But the bare-knuckle tactics and brinkmanship that

Insight: In tax cut debate, a focus on Boehner's leadership

2011-12-21T14:00:13Z

WASHINGTON (Reuters) - In Congress' tense drama over how to extend payroll tax cuts for 160 million Americans, it may be the most intriguing subplot: whether Republican House Speaker John Boehner is losing his grip on members of his own party.

Boehner and many Republicans scoff at the idea.

But the House's rejection o...

Alice Rivlin: "We're Flirting with Disaster"

2011-12-21T11:30:21Z

The Former White House budget chief thinks Congress squandered its opportunity to rein in the national debt but may still come to its senses.

No one is more familiar with fiscal and political drama in D.C. than Reuters) - Republicans were under growing pressure on Wednesday to agree to a 60-day extension of an expiring payroll tax cut for 160 million workers and end a stand-off with Democrats that threatens to undercut a fragile economic recovery.

If the Congress cannot reach a deal by December 31, the payroll tax American workers pay to fund the

Insight: Boehner leadership in focus in tax cut debate

2011-12-20T21:00:26Z

Boehner and many Republicans scoff at the idea.

But the House's rejection o...

Credit Markets

2010-12-31T14:30:44Z

FILE - In this April 14, 2010 file photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington, before the Joint Economic Committee hearing on the economy. (AP Photo/Pablo Martinez Monsivais, file)

Obama Economist

2010-12-28T04:31:17Z

FILE - In this Feb. 1, 2010 file photo, President Barack Obama makes a statement in the Grand Foyer of the White House in Washington. From left are, Council of Economic Council Chair Christina R...

Belgium Europe Financial Crisis

2010-12-23T09:30:49Z

Portugal's Prime Minister Jose Socrates arrives for an EU summit in Brussels, Friday, Dec. 17, 2010. European Union leaders are changing the treaty that underpins the bloc to make room for a huge new rescue system for countries that get into debt trouble in the long term. But they aren...

Obama Tax Cuts

2010-12-19T06:32:45Z

President Barack Obama, joined by Vice President Joe Biden at left, speaks before signing the bipartisan tax package that extends tax cuts for families at all income levels, at the Eisenhower Executive Office Building in the White H...