Washington (CNN) - Under pressure to bring down the high price of gas, President Obama and Attorney General Eric Holder on Tuesday will outline a proposal to increase federal supervision of the oil markets in an effort to clip the wings of speculators who are profiting off the volatility of the oil market.
The president's $52 million plan would let regulators force energy traders to put more of their own money into trades and also boost the penalties on manipulators who are found to be speculating unlawfully, according to a senior administration source who would not comment on the record in advance of the president's remarks.FULL STORY
(CNN) – As procrastinators rush to file their 2011 tax returns by the Tuesday deadline, a new poll shows more than two-thirds of Americans believe the revenue system benefits the wealthy while being unfair to average workers.
In the CNN/ORC survey, 68% of respondents said the current tax system benefits the rich and is unfair to ordinary workers, compared with 29% who disagreed with that view. Overall, 50% said the federal income taxes they paid were about right, with 45% saying their taxes were too high and 3% answering their taxes were too low.
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CNN: GSA exec takes the Fifth on Las Vegas spending scandal
A government official at the center of lavish spending at a Las Vegas conference claimed his Fifth Amendment rights against testifying at a congressional hearing Monday, while his former boss said she mourned her departure from public service over the controversy.
CNN Money: Senate GOP blocks Buffett Rule bill
A proposal to implement the Buffett Rule was blocked in the Senate on Monday, but proponents of the millionaire tax vowed to keep the issue alive in the months ahead. Republicans, as expected, garnered enough support to reject Democrats' attempt to bring up the proposal for debate. The Democrats fell nine votes short.
Philadelphia (CNN) – The seated statue of Benjamin Franklin towered over Mitt Romney in the marbled rotunda but the White House hopeful stood tall as he reflected on becoming the Republican presidential nominee.
“Yeah there are challenges and there are days that you get beat up in the newspaper and you don’t worry about it because you don’t read them – ha ha,” Romney said at a Tax Day Tea Summit, hosted by the Independence Hall Tea Party Association.