NEW YORK (CNNMoney.com) - President Obama is meeting on Tuesday morning with House and Senate leaders of both parties to begin to negotiate the terms of extending the Bush tax cuts. The expectations are low that they will reach any quick agreement.
At the very least, both parties want to ensure that the tax cuts are preserved for lower- and middle-income families. But that's about the only thing they agree on at the moment.
See how much more you'd pay if the tax cuts expire, at CNNMoney.com:
Washington (CNN) - The Obama administration and congressional leaders have begun talks toward reaching a deal on extending the Bush-era tax cuts, President Barack Obama said after a meeting with representatives of both parties on Tuesday.
Republican leaders confirmed Tuesday that they discussed a compromise with Obama during their nearly two-hour meeting.
Washington (CNN) - President Obama is privately considering at least a short delay to the start of his holiday vacation in Hawaii in order to try to work out a deal with Congressional Republicans on the Bush tax cuts that expire Dec. 31.
Two senior administration officials tell CNN the White House has been getting signals that the lame duck session of Congress could drag on past Saturday Dec. 18 when the President was scheduled to depart for Hawaii and that Obama has privately said he is willing to stay in Washington until Christmas Eve if necessary in order to finish the contentious debate over taxes.
(CNN) - As former President George W. Bush and former Alaska Governor Sarah Palin compete for book sales, a slight war of words has flared up between the two sides. Barbara Bush said Palin should "stay in Alaska," with Palin responding that the Bushes are "blue-bloods."
Now Bush's brother is jumping into the mix: Former Florida Governor Jeb Bush says Palin has "incredible skill" but sides with his mother in the debate.
Washington (CNN) - Letting openly gay or lesbian troops serve in the military would have little lasting impact on the U.S. armed forces, a major Pentagon review has found, according to a U.S. official.
Putting an end to "don't ask, don't tell," would have "some limited and isolated disruption to unit cohesion and retention," the year-long study found, but the effects would not be long-lasting or widespread.
Washington (CNN) - The National Republican Senatorial Committee says it isn't taking sides in any battle down the road for the party's Senate nomination in Missouri.
The primary winner there will take on freshman Democratic Sen. Claire McCaskill, who's up for re-election 2012.
A Republican party source confirms to CNN reports that Sen. John Cornyn, the NRSC chairman, spoke before Thanksgiving with former Missouri Treasurer Sarah Steelman about a possible bid for the Senate nomination. The source tells CNN that Steelman called Cornyn, rather than the other way around, and that Cornyn suggested to Steelman that if she thought she could mount a good campaign, then she should run.
Washington (CNN) - Washington Sen. Patty Murray accepted the chairmanship of the Democratic Senatorial Campaign Committee Tuesday morning, two sources confirm to CNN.
"She was pushed," a source close to Murray told CNN. "It certainly wasn't something she had any plan for election day."
Thirty-three Senate seats are up for grabs in 2012, with 23 of those belonging to Democrats and the two independents who caucus with them.
(CNN) - After one day of counting ballots in Minnesota, the gubernatorial race is widening. Barely.
Republican Tom Emmer has lost four votes while Democrat Mark Dayton has gained 20. Dayton led Emmer by nearly 9,000 votes before the recount began.
(TIME) - Sarah Palin raised $469,000 between Oct. 13 and Nov. 22 bringing her total for the cycle to just under $4.5 million, Tim Crawford, SarahPAC's treasurer, told TIME exclusively. Crawford attributed the surge of funds to energy surrounding the midterm elections, Palin's endorsements and her TLC reality show “Sarah Palin's Alaska.” Her second book, America By Heart, came out Nov. 23.
Washington (CNN) - The Senate passed a food safety bill Tuesday to give more power to the Food and Drug Administration, more than a year after the House of Representatives passed a similar measure.
The bill, designed to bolster the safety of the nation's food supply, passed 73 to 25.