New York (CNNMoney) - Facebook has spent $140,000 "friending" Republicans this year.
As the social media company prepares to influence policy, Facebook's political action committee has raised a sizable amount of money. It has doled out more to Republicans, $140,000, compared with $127,000 to Democrats through the end of September, according to a CNNMoney review of federal records released Monday.
Watch CNN's coverage of Tuesday's presidential debate starting at 7 p.m. ET on CNN TV, CNN.com and via CNN's apps for iPhone, iPad and Android. Web users can become video editors with a new clip-and-share feature that allows them to share favorite debate moments on Facebook and Twitter. Click here for 13 reasons to watch the debate only on CNN.FULL STORY
Washington (CNNMoney) – Tax loopholes should be closed, and the savings should pay down deficits, not lower taxes for the wealthy, according to Charles Schumer, the No. 3 Senate Democrat from New York.
"It is an alluring prospect to cut taxes on the wealthiest people and somehow still reduce the deficit, but you can't have your cake and eat it, too," Schumer said Tuesday, in a speech at the National Press Club.FULL STORY
Washington (CNNMoney) – The $48 million fight for the Senate seat in Massachusetts pitting Harvard University professor Elizabeth Warren against Sen. Scott Brown is now this year's priciest congressional race.
Warren, a Democrat, is the nation's most recognized consumer advocate who helped create the Consumer Financial Protection Bureau.FULL STORY
Washington (CNNMoney) - Republicans used the Federal Reserve's announcement of a third round of stimulus to blast President Obama, saying the lackluster economic recovery he's overseen is behind the central bank's "artificial" and "ineffective" move.
Most Republicans, including the campaign of presidential candidate Mitt Romney, used the Fed's move to tout their main campaign message going into the Nov. 6 elections, that Obama's economic stewardship has failed.FULL STORY
WASHINGTON (CNNMoney) – Wall Street is on track to spend more on this election than it ever has during a campaign season.
With two months to go before Nov. 6, Wall Street firms have so far spent $164 million on campaigns and donations to political groups designed to influence the elections, according to the Center for Responsive Politics. That puts the industry on pace to surpass the spending record of $170 million that it set during the 2008 race.FULL STORY
Washington (CNNMoney) – Congress is expected to vote Friday to extend low 3.4% interest rates on federally subsidized student loans for another year, barely beating a July 1 deadline when the rates would double.
Both the Senate and House were expected to pass the measure.FULL STORY
Washington (CNNMoney) - It's crunch time for Congress, with interest rates on student loans subsidized by Uncle Sam slated to double to 6.8% on July 1.
Some 7 million students taking out loans for the next school year will have to dig deeper to pay them off if Congress doesn't halt the increase.FULL STORY
Washington (CNNMoney) – President Bill Clinton on Tuesday said those running for office should make reaching a debt deal the top campaign issue in the fall's elections.
"I think this budget issue should become front and center in this election," Clinton said on Tuesday at a fiscal summit sponsored by the Peter G. Peterson Foundation.FULL STORY
Washington (CNNMoney) - With federal student loan interest rates set to double July 1, the Senate will consider on Tuesday a bill to extend low 3.4% rates for another year.
In Washington, many lawmakers in both parties agree they'd like to extend the current 3.4% rates for another year. What they don't agree on is how to offset the $6 billion it would cost to do so - a substantial hurdle.FULL STORY
Washington (CNNMoney) - Postmaster General Patrick Donahoe said Tuesday that incentives will be offered to woo some of the 150,000 eligible employees to retire.
"We're going to offer incentives as we move from six to five day delivery," Donahoe told a House hearing on Tuesday. "It's critical to move the head count down."FULL STORY