Friday, October 03, 2008

CQ Today Midday Update

Highlights from today's news on CQ.com
Midday Update for FRIDAY, OCT. 3, 2008 – 3:02 P.M.

In This Issue

  • House Clears Revised Bailout Package With Tax Extenders Attached
  • House Passes Unemployment Benefits Extension
  • FBI Broadens Investigative Powers; Leahy Pledges Oversight
  • House Clears Bill Easing Bankruptcy Rules for Military Reservists
  • House Clears Bill to Extend Trade Programs
  • Political Trivia for Oct. 3
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Today in Washington

The House clears a financial markets bailout package that also would extend expiring tax breaks for individuals and businesses, expand tax incentives for renewable energy and require mental health parity in insurance coverage; also passes legislation to extend unemployment benefits for at least seven weeks.

The Senate is not in session; reconvenes in pro forma session Monday, Oct. 6.

The President attends a Hulshof for Governor dinner in St. Louis.

In Washington,  Deputy Treasury Secretary Robert Kimmitt speaks at a reception marking the day of German Unity. 7 p.m., German Ambassador’s Residence, 1800 Foxhall Rd. N.W.

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Top Stories

House Clears Revised Bailout Package With Tax Extenders Attached

After four days of political and economic turmoil, the House on Friday reversed itself and cleared a $700 billion financial bailout package that also extends dozens of expiring tax breaks for businesses and individuals.  [Read More]

House Passes Unemployment Benefits Extension

The House passed an extension of unemployment insurance Friday, as a new report showed the economy shed more jobs than expected in September.  [Read More]

FBI Broadens Investigative Powers; Leahy Pledges Oversight

The Justice Department released a new set of FBI investigative guidelines on Friday, despite misgivings about them on Capitol Hill.  [Read More]

House Clears Bill Easing Bankruptcy Rules for Military Reservists

The House Thursday cleared a bill to ease bankruptcy rules for military reservists and National Guard members who have been on active duty.  [Read More]

House Clears Bill to Extend Trade Programs

The House cleared legislation Friday extending two trade programs set to expire at the end of this year.  [Read More]

Political Trivia for Oct. 3

What issue was the subject of an “October surprise” in both the 1968 and 1972 presidential elections?  [Read More]

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Political Clippings

The Chicago Tribune reports that Rep. Mark Steven Kirk, R-Ill., reported raising $850,000 over the summer, bringing his total to $4.6 million in his rematch with Democratic challenger Dan Seals. In 2006, Kirk raised $3.2 million, but ramped up his fundraising for this year’s rematch after Seals took a surprisingly high 47 percent of the vote.

The McAllen Monitor in Texas reports Sen. Hillary Rodham Clinton, D-N.Y., appeared Thursday to campaign for Democrat Rick Noriega in his challenge to Sen. John Cornyn, R-Texas. Clinton’s visit comes at a time when the race is tightening — a Rasmussen Reports poll conducted Monday showed Noriega trailing Cornyn 43 percent to 50 percent among 500 likely Texas voters, the closest he’s been since the spring.

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Today on Governing.com

State and local government news from CQ’s sister publication
CALIFORNIA: Schwarzenegger: State May Need $7 Billion Federal Loan
WISCONSIN: Audit Disputes Savings from Outsourcing Printing
DALLAS: Schools to Lay Off 1,100

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