From NPR News in Washington, I'm Lakshmi Singh.
President Obama is counting on public pressure to push Congress into extending middle-class tax cuts. NPR's Scott Horsley reports Mr. Obama hosted a group of middle class families at the White House today and he is urging others to contact their members of Congress.
President Obama wants lawmakers to extend Bush-era tax cuts for all but the wealthiest Americans right away. Congressional Republicans have been reluctant to do so for fear of losing their leverage to extend tax cuts for top earners. So Mr. Obama is mounting a public offensive urging middle class families to goad lawmakers into action.
If there is one thing that I've learned when the American people speak loudly enough, lo and behold, Congress listens.
So White House is grouping Twitter responses onto the hashtag My2K and not to the $2000 plus, a typical family will have to pay next year if tax cuts are not extended. Scott Horsley, NPR News, the White House.
In addition to taxes, debate also persists over possible cuts to popular benefit programs as Democrats and Republicans try to reach a debt-cutting deal in the next couple of weeks. Speaking to NPR's All Things Considered, House Minority Leader Nancy Pelosi remains steadfast in her position on Social Security and Medicare.
I've always said that part of the big package will take a look at some changes, I don't think we should raise the eligibility age.
But House Majority Leader Eric Cantor says the Democrats need to show movement on entitlements.
That there's been no serious discussion by the White House on entitlements, on Medicare and Medicaid. This has to be a part of this agreement or else, we just continue to dig the hole deeper, asking folks to allow us to kick the can down the road further and that we don't want to do.
Again, tax increases and spending cuts are due to kick in at the end of the year if there is no deal in Congress.
New criminal charges were filed today in the investigation of a deadly coal mine explosion in West Virginia two years ago. NPR's Howard Berkes reports the former executive of Massey Energy has agreed to plead guilty to two federal conspiracy crimes.
David Hughart spent a decade as president of one of Massey Energy's West Virginia subsidiaries, and is charged with conspiring to derail surprise mine safety inspections and to cover up serious safety violations. He is the highest ranking company official charged so far. Hughart's division did not include the Upper Big Branch mine, where 29 coal miners died in a massive explosion in 2010. And the charges are not directly related to that tragedy. But the filings suggest prosecutors are aiming higher up the corporate chain of Massey Energy. In fact, U.S. Attorney Booth Goodwin says Hughart is cooperating as part of a plea agreement. Howard Berkes, NPR News.
At last check, Dow was up 75 at 12,952.
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There has been a massive bombing in the Syrian capital. Local authorities say at least 34 people were killed today when two car bombs exploded in an eastern Damascus district. Observers say rebel attacks are growing in Damascus, the city once considered well-fortified against President Assad's opponents.
New York's Attorney General wants to know if the funds intended for Hurricane Sandy relief were used appropriately involves millions of dollars sent to charities and nonprofits charged with helping storm victims. Attorney General Eric Schneiderman says he wants to be sure no fraud was involved in, so he launched an inquiry.
This evening, the lights will be turned on and the star will be lit on the Christmas tree at Rockefeller Center. NPR's Margot Adler reports that the tree was a New Jersey survivor of Hurricane Sandy.
The 80-foot Norway Spruce comes from Mount Olive, New Jersey, from the home of Joe Balku. Balku lost power during the storm and some of his other trees were downed. The tree is 50 feet in diameter and weighs ten tons. The Spruce is now covered with 30,000 lights and topped with a Swarokvski star. The tradition of a Christmas tree in that location goes back to 1931, the first tree-lighting ceremony took place in 1933. Margot Adler, NPR News, New York.
The government's reporting today that new home sales dropped 0.3% in October to a seasonally adjusted annual rate of 368,000. However, overall sales are still about 20% higher than they were a year ago.
Dow was up more than 72 points at last glance more than 0.5% at 12,950.
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