Congress takes up trade, taxes, abortion
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In the final hours of Republican rule, the Senate on Wednesday put forward an all-purpose bill covering everything from normalized trade with Vietnam and tax breaks for millions of taxpayers to an expansion of offshore oil drilling.
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The economy needs stimulating â on that much, at least, Congressional Democrats agree. But from there, things get complicated.
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The US House of representatives on Thursday passed a new corporate tax bill designed to end the trade war with Europe but the bill gives more tax cuts for some business including farmers and big companies.
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Investor's Business Daily - The Nov. 7 election that gave Democrats majorities in both the House and Senate put health insurance alongside the Iraq War as lead agenda items for the new Congress, which takes over in January.
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The 109th U.S. Congress convened on  Tuesday with aid for victims of the Asian tsunami the emergency  top priority -- ahead of thorny domestic issues such as the  Social Security retirement program and taxes.
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The World Trade Organization imposed penalties Friday on U.S. exports ranging from apples to textiles, escalating a trade dispute the Bush administration has struggled to defuse by unsuccessfully urging Congress to repeal legislation aimed at protecting American steelmakers.
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With elections and economic woes, congressional approval of foreign trade accords will be an uphill battle.
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Congress dithers, and investors should beware.
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A bill that would end a nasty trade war with Europe and shower more than &#36;140 billion in tax breaks on American companies is nearing congressional approval.
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Several important new tax laws that have passed Congress during this fall&#39;s pre-election period. Two major tax laws have been approved: the Working Families Tax Relief Act of 2004 and the American Jobs Creation Act of 2004 .
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The Bush administration is billing  the collapse of world trade talks this week as good news for  its drive to renew negotiating powers in Congress, but it is  not clear that U.S. lawmakers will see things that way.
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The U.S. House of Representatives on  Tuesday moved closer to a vote on a wide-ranging package of  trade legislation, as lawmakers scrambled to finish their work  for the year.
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As the Bush administration races to push free-trade agreements with Colombia, Panama and South Korea through Congress before leaving office next year, it is meeting a level of resistance observers call high even by the normally contentious standards of such debates.
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On the campaign trail, members of Congress often promise to eliminate pork-barrel spending. After all, the federal deficit is now up to $413 billion, and the US is waging an expensive war in Iraq.
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Faced with pressures to deal with a spate of unanticipated natural disasters as well as with the election-year needs of dozens of key constituencies, Congress moved this week
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WASHINGTON - Republicans will be much stronger on Capitol Hill next year, almost in a position to give President Bush whatever he wants on taxes, limits on legal damages, drilling in the Arctic and nominations to the US Supreme Court.
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Too often, the consequence of a tight presidential race is the sacrifice of principle to the win-at-all-costs ethos. It should thus come as no surprise that the Bush administration is once again jettisoning prudent trade policy for political calculation.