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Sat. Jul 5, 2008
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Senate Banking Panel Approves Mortgage Relief Deal ...

The Senate Banking Committee approved legislation today that would provide new oversight to mortgage giants Fannie Mae and Freddie Mac and use their assets to allow the Federal Housing Administration to insure up to $300 billion in new mortgages for struggling borrowers.

... As Compromise Brings Questions From Both Parties

Despite Senate Banking's strong vote for the House legislation, a few members voiced some concerns about the bill.

Dems, GOP Argue Over Proposed FY09 Budget Resolution

Democratic and Republican conferees traded barbs today over a compromise FY09 budget resolution before adjourning to privately review the proposal.

Gates: Navy, Air Force May Need To Subsidize Army Soon

Defense Secretary Gates acknowledged today that the military can manipulate its FY08 base budget to pay soldiers until late July, but warned that doing so would only provide temporary relief and could have significant consequences for the armed services.

Boxer Seeks Moderates' Support For Global Warming Bill ...

Senate Environment and Public Works Chairwoman Barbara Boxer is trying to earn the support of skeptical moderates in both parties for pending global warming legislation by specifying how the measure would financially help affected industries and consumers.

... As Senators Debate Costs Of Cutting Greenhouse Gases

With Senate Environment and Public Works committee leaders inching ahead with legislation in anticipation of floor debate in early June, Senate Energy and Natural Resources Committee today continued its effort to reconcile the clashing policy views and wildly varying estimates of what it might cost the economy to significantly reduce greenhouse gas emissions.

Physicians Diagnose Kennedy With Malignant Brain Tumor

Senate Health, Education, Labor and Pensions Chairman Edward Kennedy has a malignant brain tumor, according to physicians in Boston who treated him for a seizure over the weekend.

Waxman: White House Overruled EPA On Ozone Standard

House Oversight and Government Reform Chairman Henry Waxman is charging the White House with improperly overruling EPA on two recent regulatory decisions, but committee Republicans say the White House's role was nothing new.

With Fossella Retiring, Dems Are Keen To Contest N.Y. Seat

A decision by Rep. Vito Fossella, R-N.Y., not to seek re-election but to serve out his term left both parties relieved they will not have to pour money into another special election this year. But the Democratic Congressional Campaign Committee is eager to contest the seat with the incumbent stepping down.

Senate, House Chairmen Vow To Move Authorization Bill

Key Senate and House lawmakers announced Tuesday they plan to complete an annual authorization bill for the Homeland Security Department this year, ending months of speculation that such legislation might not move in either chamber.

Cisco Grilled For Allegedly Helping Chinese Surveillance

Internet networking giant Cisco Systems took the hot seat at a Senate Judiciary Human Rights Subcommittee hearing today for reportedly having a role in the Chinese government's construction of a system for monitoring, censoring and prosecuting online dissidents who speak in favor of democratic values.

USDA To Offer Ban On Downer Cattle From Entering Market

On the heels of a request Monday by Senate Majority Whip Durbin and four other

Presidential Campaign Officials Meet With Group On IP

Campaign advisers for the three White House hopefuls have met with U.S. business leaders to discuss strategies for combating counterfeiting and piracy, participating Monday at a private meeting of the U.S. Chamber of Commerce's Global Intellectual Property Center leadership board.