John Boehner News
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Updated 3 hours, 29 minutes ago
President Barack Obama plans to send the text of his $447 billion job-growth package to Congress tonight and urge quick action on the legislation, according to an administration official.
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President Barack Obama campaigned to sell his $447 billion jobs proposal, telling voters in the battleground state of Virginia that they deserve action on the economy and encouraging them to pressure lawmakers.
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When I worked at a newsmagazine and the editors needed a headline for the cover after some major event, we often hauled out a hardy perennial:
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President Barack Obama will propose cutting payroll taxes for small businesses as part of a more than $300 billion plan to re-ignite the economy and spur hiring, according to an administration memo obtained by Bloomberg News.
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Members of Congress’s debt-cutting supercommittee called for bipartisanship and expressed optimism over reaching a deal to slash $1.5 trillion from the U.S. deficit even as Republicans lowered expectations for major changes to taxes and entitlement programs.
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The short time frame and political realities facing Congress’s deficit-reduction supercommittee limit its ability to revamp the tax code now, leaving the group looking for an overhaul that could be completed next year.
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Canada’s dollar gained the most in three weeks versus its U.S. counterpart as stocks rose and the Bank of Canada said it expects growth to resume in the second half of 2011, cooling bets it will cut interest rates this year.
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President Barack Obama plans to propose sparking job growth by injecting more than $300 billion into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments.
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U.S. stocks fell, giving the Standard & Poor’s 500 Index its longest slump in almost a month, amid concern that Europe’s debt crisis is worsening. Equities pared losses in the final 30 minutes of trading.
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Service industries unexpectedly expanded at a faster pace in August, easing concern the biggest part of the U.S. economy was slumping.
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