Democrats in charge of the process say there are relatively few differences between their two bills, which both aim to avoid a repeat of the financial crisis that plunged the world economy into a deep recession and led to massive taxpayer bailouts of Wall Street firms.
They plan to postpone the most contentious issues, such as [...]
Setting up potential fireworks at the second meeting of a Senate-House panel drafting the bill, Representative Barney Frank proposed dropping the Senates plan to create a new government panel to deal with credit rating agencies.
As proposed by Democratic Senator Al Franken and approved last month by the Senate, the new panel would assign ratings responsibilities [...]
N. resolution as weak, and said it was more important than ever that Congress pass its own set of crippling sanctions on Iran.
House of Representatives Foreign Affairs Committee Chairman Howard Berman said the United States was looking to major allies in Europe and elsewhere to impose tougher measures to pressure Iran over its nuclear work. [...]
S. debt in the aftermath of a European debt crisis, and record U.S. budget deficits and the debt become major issues ahead of the November congressional elections.
The Senate approved Republican John Cornyns amendment requiring quarterly reports from the president. Republicans, who hope to win control of Congress, accuse President Barack Obama of sinking the nation [...]
White House economic adviser Paul Volcker voiced optimism that sweeping legislation would be passed in reasonable form and provide a basis for global coordination that would prevent banks from shopping for the least strict national rulebook.
The joint Senate-House of Representatives conference committee will hold its first meeting on Thursday. It must merge competing bills already [...]
Senate Democratic leaders said they were optimistic they could pass the far-reaching plan that aims to cut into the 9.7 percent unemployment rate, but it faces a tough battle among lawmakers concerned about government spending.
The bill extends jobless payments for hundreds of thousands of unemployed workers whose benefits lapsed at the end of May. It [...]
Their support could encourage other liberal Democrats who are pushing for a similar proposal in the House of Representatives, where many lawmakers are also under pressure before congressional elections in November.
The House is expected to take up its version of the war funds legislation next month.
Most of the 33 billion in war spending approved by [...]
And some House Democrats are reluctant to support a bill that may still not have enough backing to pass the Senate, according to congressional sources. The House could vote on the measure on Wednesday at the earliest, leaving little time for the Senate to act before the benefits expire.
House Democratic Leader Steny Hoyer said he [...]
The Senate had been expected to name the other senators on the panel, but it adjourned on Monday without doing so. Aides said leaders hope to make an announcement in a day or so.
A source close to Senate discussions said the following eight other senators would be named to it Democrats Tim Johnson, Charles Schumer, [...]
Under sweeping financial overhauls that have now passed the House and Senate, home buyers wont be able to get a mortgage without producing pay stubs or other evidence they can make their monthly payments. A new consumer watchdog will police lenders who offer impossible-to-resist subprime mortgages and then jack up the interest rates to [...]