Senate Tea Party caucus holds first meeting Thursday
(CNN) - Tea Party activists from around the country will gather on Capitol Hill Thursday for a question and answer session with three of their favorite senators at the first official gathering of the Senate Tea Party Caucus.
"What we're trying to do, with Rand Paul, Mike Lee, and I'm sure eventually others, is to make sure all the activists know that we're still listening–we want to get their input, we want to keep them up to date with what we're doing. So it's more a forum than a caucus to keep that interaction going," Sen. Jim DeMint, R-South Carolina, told CNN.
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Democratic no-shows as interesting as attendees at Obama tax signing
(CNN) - Not being in the picture at a Presidential bill signing is a move that may well speak a thousand words.
Standing alongside President Obama as he signed the bill extending the Bush-era tax cuts into law on Friday were several members of Congress including Senate Majority Whip Dick Durbin, D-Illinois, and Senate Minority Leader Mitch McConnell, R-Kentucky, among others.
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Tea Party groups divided on tax cut deal
(CNN) - Democrats aren't the only ones divided over the tax cut package negotiated by President Obama and congressional Democrats.
Two tea party groups are taking opposing positions on the issue, CNN learned Tuesday.
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Tax deal clears key Senate hurdle
WASHINGTON (CNN) - The hotly contested tax deal negotiated by President Barack Obama and Republican leaders cleared a key Senate procedural hurdle Monday, with both parties strongly supporting a motion to end debate on the measure.
Final Senate approval could come as early as Tuesday on the package that includes extending for two years the Bush-era tax cuts set to expire December 31, as well as extending unemployment benefits for 13 months, cutting the payroll tax by 2 percentage points for a year and continuing a series of other tax breaks.
American Sauce: What else is in the MegaTaxDeal?
(CNN) - The U.S. Senate voted Monday to move forward with a tax deal that would extend Bush-era tax cuts. If it becomes law, it would cost more than:
· The Iraq and Afghanistan Wars from 2001-2008 ($752 Billion according to CBO)
· The stimulus bill ($787 Billion over ten years, from CBO)
· The entire domestic output of South Korea last year ($832 Billion says the World Bank)
The Congressional megadeal on taxes and unemployment is slated to add some $857 Billion to the US debt. Of course, it also keeps billions in Americans' pockets. In this week's American Sauce, we lay out what is in the relatively short bill that feels like a Russian novel. We also tackle Congress' procrastination list and an issue almost ignored: rising gas prices. Click here to listen.
Keep reading for a look at what else is in this tax deal, by size.
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Tax deal has enough votes to move forward in Senate
Washington (CNN)–A tax and benefits package negotiated by President Barack Obama and Republicans received enough votes Monday to clear a key procedural hurdle in the Senate, according to an unofficial CNN count. No official final tally has been declared in order to allow voting to continue for senators delayed by inclement weather.
Obama, Republicans tout benefits of tax compromise
(CNN) - While President Obama continues to face backlash from members of his own party for negotiating a deal that includes extending the Bush-era tax cuts for millionaires, Republicans say the compromise is "encouraging."
Incoming Rep. Kristi Noem, R-South Dakota, said in the weekly GOP address Saturday that "it's certainly encouraging to see that Obama has proposed a potential agreement to stop all the tax hikes scheduled to take effect on January 1st."
"Failing to stop all the tax hikes would mean taxes would go up for small businesses all across this country, destroying more jobs," Noem added.
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CBO score shows tax plan ups deficit $900 billion in 5 years
Washington (CNN) - The Congressional Budget Office released its score Friday on the tax plan hammered out between Republicans and President Barack Obama, showing a $893 billion hit on the deficit over the next five years.
The bulk of the deficit increase comes from loss of revenue - $756 billion - with the rest coming from additional direct outlays.
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