Bush tax cuts: A tussle between Republicans and Democrats over the future of the Bush tax cuts played a large role in scuttling the congressional super committee's attempt to reach an agreement on reducing the budget deficit.
By law, the deficit-reducing super committee must deliver a plan to Congress by Wednesday. But the prospects for success are fading to black.
Fanning out to the sets of the Sunday morning talk shows, Democrats and Republicans on the deficit-cutting "super committee" blamed each other for a deepening impasse that has all but doomed chances for an accord.
Following a GOP proposal on the deficit-cutting 'super committee' to raise tax revenues, Republicans say it's the Democrats' turn to show they're serious by making cuts in entitlement spending.
Congress's super committee may have just days to act in order to meet its deadline and prevent $1.2 trillion in automatic cuts to defense and nondefense spending. So far, no plan has emerged.
The Senate voted Monday to advance a bill that would punish China for manipulating its currency to drive exports. If it became law, the bill would risk a trade war over US jobs.
Congress's deficit 'super committee' began its look into reform of the tax code. Despite the partisanship consuming Washington, the $1 trillion in personal and corporate tax breaks buried in the code are an appealing target for both sides.
The bipartisan deficit 'super committee' is charged with finding $1.5 trillion in savings over 10 years. Can it find $450 billion more to fund Obama's jobs plan? Can it find $4 trillion? More?