Romney faces high stakes as Santorum moves on Michigan - Wed, 22 Feb 2012

Mitt Romney leads in delegates but a surge by Rick Santorum in recent days has the Republican presidential frontrunner once again trying to cast an opponent as the flavor of the week -- and stave off a potential loss in a state critical to proving his electability in a general election.

Obama’s Revisits Re-Election “Fairness” Theme with Corporate Taxes - Wed, 22 Feb 2012

Under the Obama plan, the new taxes would be used to fund government outlays to encourage a more equal distribution of wealth either as direct government spending or in the form of tax subsidies given to businesses seen as desirable by the president, like manufacturing firms making products that comply with pending and proposed environmental rules.

Online group to host alternative nominating contest for candidate to challenge Obama, GOP nominee - Wed, 22 Feb 2012

A nonpartisan, nonprofit organization looking to spice up the 2012 election wants to use the latest technology to create the first online-based nominating process for a third and independent candidate to challenge President Obama and the GOP.

Romney donors start tapping out as race drags on - Wed, 22 Feb 2012

Republican presidential candidate Mitt Romney is drawing a disproportionately high amount of campaign funds from people who have given him the legal maximum, weakening his ability to raise money from such proven donors as the GOP nomination fight drags on.

Clinton heads abroad to push for diplomacy in Syria - Wed, 22 Feb 2012

Secretary of State Hillary Rodham Clinton is trying to ramp up diplomatic efforts against President Bashar Assad's regime on a trip to North Africa this week, as some countries begin to explore the possibility of arming Syria's rebels

New consumer finance agency probes overdraft fees - Wed, 22 Feb 2012

The Consumer Financial Protection Bureau is launching a probe into overdraft fees charged by big banks, announcing Wednesday it will ask banks for information about how the fees affect consumers, how overdraft protection is marketed and what information consumers receiv

Obama corporate tax plan to lower top rate to 28 percent, according to senior administration official - Wed, 22 Feb 2012

Laying down an election-year marker in the debate over taxes, the Obama administration is proposing to cut the corporate tax rate from 35 percent to 28 percent, and to seek an even lower effective rate for manufacturers, a senior administration official says.

Watchdog report: Limit Fannie, Freddie legal fees more - Wed, 22 Feb 2012

The U.S. government regulator for Fannie Mae and Freddie Mac must do a better job limiting legal expenses paid by the two mortgage giants to their former executives facing lawsuits, a new watchdog report says.

Obama administration to unveil corporate tax reform plan to lower top rate to 28 percent, lose loopholes - Wed, 22 Feb 2012

The Obama administration plans to unveil a long-awaited corporate tax reform plan on Wednesday, lowering the top income-tax rate for corporations to 28 percent from 35 percent while eliminating deductions.

Fannie, Freddie regulator looks to unify mortgage securities - Wed, 22 Feb 2012

The U.S. is studying a single way to package home loans into securities as an interim step toward a system that could outlive Fannie Mae and Freddie Mac, mortgage-finance firms that have faced an uncertain future in the wake of the housing market's bust.

President Obama to address soaring gas prices in Florida speech - Wed, 22 Feb 2012

President Barack Obama will deliver a speech on energy and rising gas prices Thursday at the University of Miami.

Report finds spike in earmarks to Democratic lawmakers during controversial votes - Wed, 22 Feb 2012

The Heritage Foundation has issued a new report that charges the Obama administration sent presidential earmarks, taxpayer dollars, to Democratic lawmakers to help convince them to vote for controversial proposals such as cap and trade and the health care bill.

Lugar faces hearing on residency, reportedly uncertain about address on license - Tue, 21 Feb 2012

In a rare moment of bipartisan accord, Republicans and Democrats alike are putting pressure on Indiana Republican Sen. Richard Lugar over the fact he doesn't actually live at the address he uses to claim residency.�

Gun-rights groups decry proposed surtax on Illinois ammo sales - Tue, 21 Feb 2012

An Illinois lawmaker wants gun owners to shell out extra taxes in order to finance a new grant program for trauma centers, a move firearms advocacy groups say amounts to a "sin tax" on law-abiding hunters and target shooters.�

Christie budget proposes modest increase in school aid, first phase of income tax cut - Tue, 21 Feb 2012

New Jersey Gov. Chris Christie on Tuesday proposed a $32.1 billion budget for the next fiscal year that includes a small increase in school aid, flat funding for municipalities and the modest amount needed to fund the first half-year of his 10 percent income tax cut.�

Virginia legislature signs off on bill to let agencies deny adoptions to gay parents - Tue, 21 Feb 2012

The "conscience clause" legislation that allows private agencies to reject placements of children on moral and religious grounds heads to Gov. Bob McDonnell, who says he will sign it.

Chief Justice Roberts says Supreme Court will not adopt formal ethics rules - Tue, 21 Feb 2012

Chief Justice John Roberts has told Congress again that the Supreme Court doesn't plan to formally adopt rules that would bind it to the same code of conduct as other federal judges.

Obama administration opens door to aid for Syrian rebels - Tue, 21 Feb 2012

Coordinated messages out of the State Department and White House suggest that a political solution may still be at hand to get rid of Syrian President Bashar Assad, but the forceful objections to arming rebels has been dropped.

Bachmann to run in reconfigured 6th district - Tue, 21 Feb 2012

Rep. Michele Bachmann says she'll seek the new 6th District seat despite redistricting, which merged her old territory with one held by Rep. Betty McCollum, a Democrat representing Minnesota's 4th District.

Indiana lawmaker urges state Republicans to oppose resolution honoring 'radicalized' Girl Scouts - Tue, 21 Feb 2012

A state House lawmaker in Indiana is refusing to sign a resolution honoring the 100th anniversary of the Girl Scouts of America, saying he has read allegations that the group promotes "homosexual lifestyles" and is an arm of Planned Parenthood.