B.A. Spending Daily
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Here’s a roundup of this morning’s must-read budget and economic stories:
The Hill says uncertainty is the main issue holding the economy back.
Congressional leaders have reached a deal on two bills, legislation to prevent student loan interest rate hikes and a two-year reauthorization of highway spending programs. The bills will be passed together before Congress leaves for its Fourth of July recess. The Associated Press, Bloomberg, The Hill, Politico, Roll Call and The Washington Post have the details. Politico looks at negotiations over an enormous earmark in the highway bill.
The Hill says Congress won’t allow a plan to tax cars by the mile to go forward.
Reuters looks at the cost of implementing defense spending cuts. Politico says the Defense Department wants some flexibility on how to implement the planned cuts, which will start taking effect in January.
Politico reports that, after the July Fourth recess, the Senate may take up legislation to prevent outsourcing.
Reuters says tax refunds in 2013 could be delayed if Congress does not act before the end of the year to extend expiring tax cuts.
CNBC looks at Stockton, Calif., which is about to declare bankruptcy, and other cities that are in fiscal trouble.