Fiscal deal edges forward in heated talks
Washington insiders say White House and House Republicans see overlap that could anchor a deal after the fiscal cliff. Key issues include raising tax rates for the top earners, Medicare and Social Security reforms, and lifting the debt limit. Obama signals openness to some entitlement changes while insisting higher earners share in the burden. Boehner pushes for revenue through loophole closures, while both sides weigh base-broadening and inflation measure changes.
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GOP leaders strip conservatives from key House committees
Four conservative Republicans Tim Huelskamp Justin Amash Walter Jones and David Schweikert lose seats on the House Budget and Financial Services panels as Speaker Boehner reshapes assignments. The move highlights a rift between party backed conservatives and GOP leadership with reactions from Freedom Works and other tea party aligned groups. Jones and Schweikert criticized the effort while Amash and Huelskamp say the change prompts greater independence.
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Obama second inauguration shown as afterthought
Obama's second term kickoff appears muted as the economy and congressional reshuffling take priority. Ticket demand is down and hotel bookings are light, with planners delaying announcements and a star-studded concert unlikely. The public ceremony will be on January 21, while a private oath will occur at the White House.
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