Tuesday, July 01, 2008

CQ Today Midday Update

Highlights from today's news on CQ.com
Midday Update for TUESDAY, JULY 1, 2008 – 2:40 P.M.

In This Issue

  • Lower Rates Kick In for Student Loans
  • While Others Wait, Israel Gets Its Military Aid Up Front
  • Senate GOP Leaders Urge July Action on Renewal of Tax Breaks
  • Pelosi Will Publish, Promote a Book in Month Before Convention
  • Political Trivia for July 1
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Today in Washington

The House has adjourned for the July Fourth recess; reconvenes at 2 p.m. Tuesday, July 8.

The Senate has adjourned for the July Fourth recess; reconvenes at 2 p.m. Monday, July 7.

President Bush visits Jackson, Miss., to attend a fundraising luncheon for GOP Sen. Roger Wicker before heading to Arkansas for a roundtable on housing and consumer credit counseling in North Little Rock and a Republican fundraising reception in Little Rock.

In Washington, the Georgetown University Library Associates and Lynx Investment Advisory, LLC host a panel discussion, “Economic Slowdown, Market Fallout and the Path to Financial Recovery,” featuring chief investment officers and managers from various organizations. 6 p.m., Lauinger Library, 37th and O Streets N.W.

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Top Stories

Lower Rates Kick In for Student Loans

Congressional Democrats touted lower interest rates that kicked in Tuesday on certain federally subsidized student loans, a day after President Bush signed the latest extension of the law governing federal support for higher education.  [Read More]

While Others Wait, Israel Gets Its Military Aid Up Front

While most countries that benefit from U.S. help will have to wait for their annual aid installment until the fiscal 2009 appropriations process plays out, the newly enacted war supplemental provides a significant boost in military financing for Israel.  [Read More]

Senate GOP Leaders Urge July Action on Renewal of Tax Breaks

Senate GOP leaders on Tuesday urged their Democratic counterparts to work on a bipartisan tax package this month that would revive or renew a slew of individual and business tax breaks.  [Read More]

Pelosi Will Publish, Promote a Book in Month Before Convention

House Speaker Nancy Pelosi’s new book, “Know Your Power — A Message to America’s Daughters,’’ comes out at the end of this month, allowing the Speaker to hit the book promotion trail as she prepares for her spotlighted role as permanent chair of the Democratic National Convention in late August.  [Read More]

Political Trivia for July 1

What identifier does not apply to William Howard Taft?  [Read More]

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Political Clippings

The Minneapolis Star Tribune reports that Minnesota Democrats want Sen. Norm Coleman to produce his lease and other information on the Capitol Hill apartment “he has rented since last summer from a longtime friend and wealthy Republican operative.” Coleman, R-Minn., is in a tough re-election race against Democrat Al Franken. Brian Melendez, the state Democratic chair, says media accounts of Coleman’s arrangements suggest the senator “is getting a sweetheart deal” that may violate Senate ethics rules. The building is owned by Jeff Larson, a St. Paul businessman whose telemarketing firm has provided services worth more than $1.5 million to Coleman’s campaigns and political action committee since 2001. The newspaper says Coleman says he is renting “cramped space” from a friend and is paying fair market value for the basement apartment.

The Springfield News-Leader reports that as he runs for governor of Missouri, Republican Rep. Kenny Hulshof hopes an endorsement from House Minority Whip Roy Blunt will help show that he is the “consensus candidate” for the GOP nomination. Hulshof faces an Aug. 5 primary against state Treasurer Sarah Steelman. Blunt, R-Mo., officially endorsed Hulshof on Monday. Hulfshof supporters point to endorsements from 68 state legislators, Sen. Christopher S. Bond, R-Mo., and the Missouri Chamber of Commerce, to make the case that he has broad support. But Steelman backers counter that she has significant support too and has already won statewide office. Her spokesman said voters will decide the nominee, “not a few politicians.” The next governor will replace Matt Blunt, son of the congressman, who decided not to seek re-election.

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Today on Governing.com

State and local government news from CQ’s sister publication
DETROIT: Schools Slash $522 Million, Avert Shutdow
FAIRFAX COUNTY, Va.: County to Buy Foreclosed Properties
HARRIS COUNTY, Texas: Sheriff Apologizes to Muslims for E-Mails
NEW YORK CITY: 9/11 Memorial Project May Be Delayed for Years
MONTANA: Land Deal Protects 320,000 Acres

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