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House Leaders Schedule Final Vote on Debt Limit Hike, PAYGO Rules
(Jan. 31, 2010)

The House this week will vote on whether to send President Obama a $1.9 trillion increase in the federal debt limit along with statutory pay-as-you-go (PAYGO) language requiring Congress to fully offset the cost of new tax cuts or spending increases for "mandatory" programs such as Medicare and Social Security. The Senate approved the debt limit and PAYGO provisions on Thursday as a substitute amendment to the House-passed proposal to raise the ceiling by $635 billion.


Hoyer: Job Creation, Fiscal Restraint Top House's Legislative Agenda for 2010
(Jan. 26, 2010)

Enacting a jobs bill and budget reform legislation will top House Democratic leaders' legislative agenda during the second session of the 111th Congress. "It is crucial to get a jobs bill to the president’s desk as soon as possible," House Majority Leader Steny Hoyer (D-MD) said Tuesday during a speech to the National Press Club. He added that Democrats aim to send the White House a "strong" pay-as-you-go (PAYGO) measure requiring any new entitlement spending or tax cuts to be fully offset by other spending reductions or revenue increases so the deficit does not go up.


This Week in Congress
(Jan. 24, 2010)

The Senate this week continues debate on a measure that would raise the public debt limit by $1.9 trillion to $14.29 trillion, a hike that could provide the Treasury Department with enough borrowing authority to last through 2010. Senate Majority Leader Harry Reid (D-NV) offered the $1.9 trillion increase as a substitute amendment to the House-passed proposal to raise the ceiling to $13.029 trillion -- a $635 billion increase over the current debt limit -- that likely would force lawmakers to revisit the politically unpopular issue before the November elections.


Congress Moving Swiftly on Accelerated Tax Break for Haiti Relief Contributions
(Jan. 21, 2010)

House and Senate lawmakers are moving swiftly on legislation that would allow Americans who donate cash for earthquake relief efforts in Haiti to record these contributions as charitable deductions for the 2009 tax year. The window to qualify for the accelerated tax break is Jan. 11 to Mar. 1, 2010. Those who text message their donation can use their phone bill as proof to the IRS of the donation.


                                     

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