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...Still, Democrats have said they won't pass anything that isn't fully paid for, and finding the money to plug an estimated $200 billion-to-$320 billion shortfall has been particularly tough. Obama's original proposal to raise the tax deduction for charitable giving by the nation's highest earners seemed dead on arrival, while the House idea of taxing the rich directly has run into resistance from conservative Democrats known as Blue Dogs. One proposal that has gained traction in the past week is to tax pricey, so-called Cadillac health-insurance plans, either directly or by taxing...

Author: /time Magazine | Title: The Five Biggest Hurdles to Health-Care Reform | 7/27/2009 | See Source »

...July 20, Governor Arnold Schwarzenegger and California legislative leaders reached a tentative budget agreement to plug the state's deficit, but it would involve making sweeping cuts in education and health services as well as taking billions from county governments. Democratic state assemblyman Tom Ammiano has introduced legislation that would let California regulate and tax the sale of marijuana. The state's proposed $50-per-oz. pot tax would bring in about $1.3 billion a year in additional revenue. Ammiano's bill was shelved this session, but he expects to introduce a revised bill early next year. (See TIME...

Author: /time Magazine | Title: Is Marijuana the Answer to California's Budget Woes? | 7/24/2009 | See Source »

...problem facing Obama is that pressing for a two-state solution has put him at odds with a reluctant Israeli government that has now chosen the emotive issue of Jerusalem as the test of how far he's willing to go. If he backs down, Obama pulls the plug on his carefully crafted outreach to the Muslim world and can expect to see his effort to settle the Israeli-Palestinian conflict fail before it has practically begun. But pressing ahead on Jerusalem and the wider peace agenda of which it forms part could, like pushing his health-care plan, come...

Author: /time Magazine | Title: Jerusalem Threatens Obama Peace Plan | 7/23/2009 | See Source »

...Policy Priorities, at least 48 states are facing shortfalls totaling $166 billion - 24% of their total budgets. Rendell, the outgoing chairman of the NGA, was unable to attend the Biloxi meeting because he had to stay in Pennsylvania and struggle with the legislature to find a way to plug a $3.2 billion fiscal hole...

Author: /time Magazine | Title: Medicaid and the States: Health-Care Reform's Next Hurdle | 7/21/2009 | See Source »

...risks. Reva faces a growing list of potential competitors that plan to launch all-electric and plug-in hybrid vehicles over the next several years. GM's Chevy Volt is expected to debut in the U.S. in 2010; BMW says it will test-market an electric car in Britain and other countries later this year; while Renault-Nissan plans to make an electric car by 2012. A Frost & Sullivan study reckons that by 2020, at least 15% of all new cars sold will be electric. (See the 50 worst cars of all time...

Author: /time Magazine | Title: Made in India: The $12,000 Electric Car | 7/21/2009 | See Source »

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