House Ways and Means Committee released its tax proposals totaling about $2 trillion in tax increases.
While some lawmakers are honing the agenda for the new Republican-controlled Congress in January, the current lame-duck session will likely act on several bills before the end of the year. In a reversal of power, Republicans seized the control of the Senate in the mid-term elections, winning eight seats for a majority of 53. Seats
The current budget debate on Capitol Hill is being shaped by several events in the next few months including raising the debt ceiling, the debate on sequestration, and the expiration of a continuing resolution to fund the government. March 1 A March 1, 2013 deadline is set for action on $1.2 trillion in automatic spending