Presidential candidate Mitt Romney denied unsubstantiated claims made by Nevada Senator Harry Reid that Romney is 'hiding something' by refusing to release more of his tax returns. Returns that Romney has made public show that he paid a lower tax rate than most Americans in 2010.
Government funding was set to run out on Sept. 30, but congressional leaders on Tuesday said they reached a deal to extend it for six months at current levels. Lawmakers with tea party leanings led the way, to prevent possibility of a preelection government shutdown.
The Senate on Monday takes up a cyber security bill affecting companies that own power systems, water facilities, and other critical infrastructure. Though new security standards would not be mandatory, the private sector remains cautious.
The federal inheritance tax rate will jump to 55 percent in 2013 unless Congress acts. Republicans and Democrats disagree on the best plan. But a stalemate will result in higher inheritance taxes than either party wants.
Senate Democrats squeak through an extension of middle-class tax cuts. Republicans deride it as damaging to the economy. And a January train wreck for spending cuts and tax increases looms even closer.