New York (CNNMoney) - An analysis from Senate Democrats released Wednesday found that many in the middle class could pay more under a House Republican tax reform proposal than they do today, while the uber-rich would pay less.
The analysis - while partisan - highlights a hard truth that both parties skate over when discussing the glories of tax reform: Lower rates will come at a cost. And someone will have to pay.
CNN's GUT CHECK | for June 20, 2012 | 5 p.m.
– n. a pause to assess the state, progress or condition of the political news cycle
BREAKING: CONTEMPT: The House Oversight & Government Reform Committee recommended that Attorney General Eric Holder be cited for contempt of Congress on Wednesday in a vote that fell strictly on party lines. The recommendation was issued because of Holder’s failure to turn over documents regarding the botched Fast and Furious weapons sting operation.
“The aye's have it and a contempt report is ordered reported to the House,” committee chairman Rep. Darrell Issa, R-California, read at the close of the meeting.
In a statement following the vote, Holder reacted to the contempt recommendation.
“From the beginning, Chairman Issa and certain members of the Committee have made unsubstantiated allegations first, then scrambled for facts to try to justify them later,” read Holder’s statement. “That might make for good political theater, but it does little to uncover the truth or address the problems associated with this operation and prior ones dating back to the previous Administration."
Washington (CNN) - President Barack Obama's assertion of executive privilege ahead of a hearing before a House committee, which subsequently recommended his attorney general be cited for contempt of Congress, sets up a fight that has had mixed results in the past.
At stake are Justice Department documents relating to the flawed Fast and Furious gunrunning sting that House Oversight Committee Chairman Darrell Issa, R-California, wants in his hands, and that Attorney General Eric Holder says are confidential.
Washington (CNN) - Voting on strictly partisan lines, a House committee recommended Wednesday that Attorney General Eric Holder be cited for contempt of Congress for failing to turn over documents relating to the botched Fast and Furious weapons sting operation.
The vote ended an extraordinary daylong hearing that took place after President Barack Obama asserted executive privilege over some documents sought by the panel investigating Fast and Furious.
(CNN) – Restore Our Future, the super PAC backing Mitt Romney, raised just under $5 million in May, according to documents filed with the Federal Election Commission Wednesday.
The May haul of $4.96 million topped the $4.6 million the group raised in April. Restore Our Future reported spending $4.8 million in May and ended the month with $8.4 million cash on hand.
(CNN) - Former Gov. Tommy Thompson leads Rep. Tammy Baldwin in a Wisconsin race for the U.S. Senate according to a new poll, which also shows President Barack Obama six points ahead of GOP presidential candidate Mitt Romney in the state.
Thompson, a Republican, has 49% support in a matchup against Baldwin, a Democrat who scored 41% in the Marquette University poll of likely voters released Wednesday.
(CNN) – The Democratic Senatorial Campaign Committee brought in $5.6 million in May, while their GOP counterparts brought in $3.9 million, according to the fund-raising arms in charge of electing the parties' candidates to the upper chamber.
The DSCC ended the month with $28.3 million cash on hand and the National Republican Senatorial Committee had $23 million available, the groups said Wednesday.
(CNN) - One episode in, Bristol Palin is already delivering the drama.
In her new reality television series, which premiered Tuesday night, the 21-year-old daughter of Sarah Palin found herself in a heated brawl at a Los Angeles bar as she defended her mom against verbal attacks.
(CNN) - The House Oversight Committee is considering a contempt measure against Attorney General Eric Holder over documents sought by the panel investigating the botched gun-running sting called Operation Fast and Furious. On Wednesday, President Barack Obama entered the dispute by asserting executive privilege over the documents sought by committee Chairman Darrell Issa, R-California.
Here are the issues around the dispute:
(CNN) - Senate Joint Resolution 37, the Senate bill that would overturn the Environmental Protection Agency's controversial Mercury and Air Toxics Standards or MATS, was voted down Wednesday by a margin of 46 to 53.
Introduced by Sen. James Inhofe, R-Oklahoma, in February, the resolution was a challenge to the country's first national protections rule designed to limit the amount of heavy metals like mercury, arsenic, chromium, nickel and other toxic air pollutants released by power plants that burn coal and oil - toxins many suspect cause cancer and other health problems.