Washington Day Ahead: House Delays Vote on Boehner Debt Proposal
The House of Representatives postponed a vote on House Speaker John Boehner’s debt-ceiling plan until tomorrow as he revises his measure to increase its spending cuts and deals with rebellion within his own party from conservatives who say the proposal would do too little to cut the debt and control federal spending.
TOP GOVERNMENT STORIES
Boehner Fights Internal Strife on Veto-Threatened Debt Plan
House Speaker John Boehner, battling resistance from within his own party as he intensifies a debt-ceiling standoff with President Barack Obama, worked to salvage his plan to tie the nation’s borrowing power to spending cuts and budget controls.
Party Loyalty to Insecure Leaders Brings Debt Talks to Precipice
President Barack Obama told the nation in his July 25 televised speech that Washington “is a city where ‘compromise’ is becoming a dirty word.” If he’s right and Democrats and Republicans can’t agree on a way out of the impasse over raising the U.S. debt ceiling, there will be plenty of blame to go around.
Daley Says Chamber Support of Boehner Plan ‘Political Statement’
White House Chief of Staff Bill Daley dismissed the U.S. Chamber of Commerce’s backing of a House Republican plan to raise the debt limit in two stages as a “political statement” by the nation’s biggest business lobby.
U.S. Credit Rating Rests On S&P’s London View of Washington
David Beers may be the most influential political commentator in the U.S. right now, even though he’s hardly a household name, that isn’t technically his job and he’s only visiting.
Perry’s Entry Would Boost Iowa’s Importance in Republican Race
Predictions by some Republicans of a diminished role for Iowa in picking the party’s 2012 presidential nominee may prove premature, especially if Texas Governor Rick Perry enters the race next month.
Tax Rewrite Talk Puts Congress Chief Scorekeeper Under Pressure
Thomas Barthold, the chief tax scorekeeper for Congress, spent a lifetime preparing for the question this month from Representative Rick Berg of North Dakota, who wanted to know whether the U.S. tax code should allow deductions for interest payments.
Private Equity Seeks to Avoid Scrutiny as Washington Sets Rules
Private-equity firms are working to convince lawmakers they’re different from Wall Street banks and hedge funds as they seek to avoid additional regulation proposed in response to the 2008 financial-industry bailouts.
TODAY ON BLOOMBERG TV:
Shaun Donovan, secretary of Housing and Urban Development, at 1:30 p.m.; Christian Weller, senior economist at the Center for American Progress, on the debt debate, at 5 p.m.
WHITE HOUSE
No public events scheduled.
CONGRESS
In session.
House Financial Services subcommittee on oversight and investigations holds hearing on “Oversight of the Credit Rating Agencies Post Dodd-Frank.” 10 a.m.
REPORTS
The Commerce Department will report on June durable goods orders at 8:30 a.m.
The Federal Reserve releases its beige book economic survey at 2 p.m.
HIGHLIGHTS FROM OTHER NEWSPAPERS
China’s Use of U.S. Debt Should Be Short-Term, Daily Reports
A report produced by a research team from the Chinese Academy of Social Sciences and the Ministry of Finance has endorsed keeping China’s use of U.S. debt short-term, the Economic Information Daily reported.
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