by Ellen Garrison | Mar 5, 2014 | Business
WASHINGTON – Seated under a painting of former Rep. Barney Frank, Republican Rep. Patrick McHenry attacked Frank’s signature financial reform legislation at a hearing on the growth of federal regulation and its impact on the international markets. Witnesses criticized...
by Christophe Haubursin | Mar 5, 2014 | Business, Health & Science
WASHINGTON — Tech magnate Elon Musk wants in on the Defense Department’s satellite space race, for capitalism’s sake. At a Senate hearing Wednesday, Musk, the CEO of electric car maker Tesla Motors, pushed for opening up satellite launch services to free market...
by Preetisha Sen | Mar 5, 2014 | Business, Politics
WASHINGTON – One day after President Barack Obama unveiled his 2015 budget, Treasury Secretary Jacob Lew highlighted its strengths before the Senate Finance Committee, but also faced a sharp critique from Republicans. “It supports the ongoing recovery and invests in...
by Preetisha Sen | Feb 26, 2014 | Business
WASHINGTON – President Barack Obama mentioned the need for corporate tax reform in his January State of the Union address. Now the Republican chairman of the powerful House Ways and Means Committee is offering a comprehensive tax reform plan that covers both...
by Mary Kate Hayes | Feb 24, 2014 | Business
WASHINGTON – The minimum wage either helps the poor out of poverty or fails to correctly address economic issues, depending on which expert was talking at an Economic Policy Institute discussion Monday. To the 46.5 million Americans who live below the poverty line –...
by Sylvan Lane | Feb 18, 2014 | Business
WASHINGTON – Detroit’s attempt to restructure municipal workers’ pension plans may have far-reaching implications for other American cities dealing with similar issues. The question of whether a state constitutional ban on diminishing or changing pensions applies to...
by Ellen Garrison | Feb 18, 2014 | Business
WASHINGTON — A team of middle schoolers from Rochester, Mich., beat out hundreds of other students on Tuesday to win a $7,500 prize and an all-expenses-paid trip to Space Camp by building the best futuristic city design. The first place winner, Michigan’s St....
by Sylvan Lane | Feb 12, 2014 | Business, Living
WASHINGTON—Five years after the Great Recession stalled the American economy, senior citizen entrepreneurship might be what the United States needs to kick the slow recovery into another gear. Now, the Senate is trying to figure out what needs to be done help “encore...
by Preetisha Sen | Feb 12, 2014 | Business, Politics
WASHINGTON — The Senate passed the bill to suspend the federal debt ceiling until March 2015 on Wednesday after a crucial 67-31 vote to end debate on the measure, with a flurry of support from Republican leadership. The procedural vote for cloture, which...
by Jeanne Kuang | Feb 11, 2014 | Business, Politics
WASHINGTON—A Congressional Budget Office report that spurred a partisan economic argument last week continued to pit Democrats and Republicans against each other Tuesday. At a Senate Budget Committee hearing, Douglas Elmendorf, head of the non-partisan CBO, said the...
by Preetisha Sen | Feb 11, 2014 | Business
WASHINGTON — In her first appearance before Congress as head of the Federal Reserve, Janet Yellen said the Fed will focus on returning the economy to employment while keeping an eye on whether regulatory reforms for the financial industry are working. Yellen delivered...
by Sylvan Lane | Feb 6, 2014 | Business, Politics
WASHINGTON — The Senate was one vote short of allowing debate on the unemployment insurance extension bill Thursday afternoon, effectively killing the bill and leaving Democrats furious at their Republican counterparts. The final vote – to end debate, and cut...
