Word: congressed
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...late September, just after Congress defeated the first bailout bill, the IRS issued a notice to change that rule to allow banks to significantly lower their taxes when they purchase other banks. Now, after an acquisition, a bank can reduce its IRS bill by claiming that loans on the books of an acquired rival are worth far less than the previous owners thought, not a hard claim to make these days. The acquirer can deduct from its taxes the full amount of the write-down. Before it could only lower its taxable earnings by a small percentage of the write...
...plans for their long-term viability; they must also sell their corporate planes (in a terrible public relations fiasco the Big Three CEOs came to Washington on their jets to beg for public funds) and agree to tight executive compensation restrictions. In the interest of passing a bill quickly, Congress dropped many proposed provisions, such as allowing the car czar to dictate operations at the three companies and forcing the resignation of all three CEOs. "While we take no satisfaction in loaning taxpayer money to these companies, we know it must be done," Senate majority leader Harry Reid said...
...Ethics Committee finish its work. "Chairman Rangel requested the review by the Ethics Committee and is confident that he behaved appropriately in these matters," Milne said in a statement he e-mailed to TIME.com. "He looks forward to leading the Ways and Means Committee in January as the new Congress works in partnership with our new President to create jobs and help our struggling families...
...means-tested entitlements. Complicating the matter for House Democratic leaders is the lack of an obvious successor for Rangel at this time of economic turmoil. The next in line for the post by seniority is California Congressman Pete Stark, one of the most liberal and hotheaded members of Congress. He has been known to challenge other members of the committee to fight him and once called a Republican colleague a "little wimp" and a "fruitcake." (See the Top 10 unfortunate political one-liners...
...most recognizable and beloved figures on Capitol Hill - has gone to war with his hometown paper, particularly after its editorial page urged him to step aside as chairman while the ethical questions are being investigated. "His temporary yielding of the gavel is an urgent necessity for a Democratic Congress elected two years ago on promises of an ethical housecleaning," the New York Times editorialized in September. Earlier this week, after the paper published even more serious allegations, Rangel wrote a scathing letter to the editor denying that he had done anything improper with regard to the loophole that rewarded Nabors...