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July 15, 2010 - by Moshe Bildner

Wall Street

  • After three Republicans joined Democrats in ending debate on the Financial Regulations bill, the Senate voted 60-39 to pass the bill, and send it to the President to sign into law. (TPM)
  • Treasury Secretary Tim Geithner is opposing TARP-watchdog Elizabeth Warren to lead the new Consumer Financial Protection Bureau. (HuffPo)
  • Today, debate began in Congress over whether to extend the Bush era tax cuts, or let them expire at the end of this year.  The 10 year cost of the cuts is estimated at over $1.6 trillion.(Politico)
  • In a USA Today opinion piece, Sen. Arlen Specter (D-PA) announced that despite what he calls Elena Kagan’s “stonewalling”, he will vote to confirm her to the Supreme Court. (USA Today)
  • The House Natural Resources Committee approved a measure that would impose tougher environmental safeguards on deep-sea oil drilling, as well as ending some of the industry’s tax exemptions. (LA Times)
  • Learn al about that bill, the CLEAR Act, here. (OpenCongress)
  • The climbing federal deficit has some in congress – including Democrats – publicly contemplating changes to Social Security, including possibly raising the retirement age.  (Wall Street Journal)
  • The House and Senate have passed resolutions attempting to raise the number of federal employees who telecommute. Rep. John Sarbanes (D-MD-3) said the nation stands to gain financial, environmental, and even security benefits by having government workers work from home. (AP)
  • The Washington Independent reports that the Senate is expected to vote to extend unemployment benefits next Tuesday, after Sen. Robert Byrd’s (D-WV) replacement is sworn into office.  (Washington Independent)
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