AP - The $143 billion payroll tax cut won by President Barack Obama may be the last significant measure he receives from a deeply divided Congress that promises to only get more polarized as Election Day approaches.

AP - Congress swiftly approved legislation Friday renewing a payroll tax cut for 160 million American workers and jobless benefits for millions more, backing the main items on President Barack Obama's jobs agenda in a rare burst of Washington bipartisanship.

Both houses of Congress approved an extension of President Obama's signature payroll tax cut through the end of the year, two weeks before the actual deadline.

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Whether a Congress can be defined as do-something or do-nothing is really in the eye of the beholder. If you judge Congress by its ability to pass landmark legislation or bills that address the real needs of the U.S. population, then you likely won't be giving Congress over the next year high marks for accomplishing much.

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AP - Millions of Americans will continue to receive long-term unemployment benefits under legislation approved Friday in Congress, but the scope of the program is being scaled back to cover fewer people by the end of the year.

AP - Congress has passed legislation renewing a payroll tax cut for 160 million workers and jobless benefits for millions more, backing the main items on President Barack Obama's jobs agenda in a rare burst of Washington bipartisanship.

The Republican-controlled House voted 293-132, followed quickly by a simple majority vote in the Senate. President Obama is expected to sign the bill.

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Politico - Congress easily passes the sweeping package.

Lawmakers approved legislation to continue a payroll tax holiday and extend benefits for the long-term unemployed. The goal is to make sure enough people have enough spending money to keep the still-fragile economy growing. But some analysts say the economy doesn't need more help.

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In a letter addressed to Congress, Postmaster General Patrick Donahoe calls for slashing 150,000 jobs - mostly through retirements. The most significant savings Donahoe suggests would come from the Postal Service breaking away from the federal health benefits plan.

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AP - Capitol Hill negotiators officially unveiled hard-fought compromise legislation to prevent 160 million workers from getting slapped with a payroll tax hike, even as the top Republican in Congress said the $143 billion measure won't do anything to help the economy.

AP - The family name may help generate a steady flow of campaign cash and assure key endorsements for Joseph Kennedy III's bid for the U.S. House. But it may take more than just the Kennedy mystique to deliver the congressional district to the 31-year-old who was raised on politics but has never before run for office.

Reuters - President Barack Obama urged lawmakers on Thursday to grant him the power to reform and consolidate federal agencies, sending a bill to Congress that would help him fend off election-year charges by Republicans that he favors big government.

AP - Republicans in Congress are launching bids to nullify Obama administration rules that would speed up union elections and set new air pollution standards for the nation's oldest and dirtiest power plants.

AP - Top U.S. intelligence officials told Congress Thursday that al-Qaida of Iraq was likely behind a series of bombings against the Syrian regime in recent months.

Here’s a roundup of this morning’s must-read budget and economic stories:

Politico says 2012 will be a “do nothing year” for Congress.

Members of Congress are putting the “finishing touches” on a deal to extend the 2011 payroll tax cut and extend unemployment benefits. Votes are expected Friday. Fox News, The Hill, Los Angeles Times, Politico, Reuters, The Wall Street Journal and The Washington Post have the details.

Roll Call says some lawmakers are trying to the stop cuts to federal worker pensions that is currently in the payroll tax extension package.

Bloomberg and The New York Times report there is still some chance that Greece will default on its debt.

On the opinion pages: Debra Saunders says the President is not doing enough to rein in the federal budget deficit; The Wall Street Journalexplores the cost of extending unemployment benefits; and Michael Peterson argues lawmakers should use a longer time horizon than 10 years when presenting the nation’s budget outlook.

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Gail Collins, New York Times
I am shocked to report that Congress, the beating heart of American democracy, is unpopular. Gail Collins David Brooks and Gail Collins talk between columns.Not unpopular like a shy kid in junior high. Unpopular like the Ebola virus, or zombies. Held in near-universal contempt, like TV shows about hoarders with dead cats in their kitchens. Or people who get students to call you up during dinner and ask you to give money to your old university. The latest Gallup poll gave Congress a 10 percent approval rating. As Senator Michael Bennet of Colorado keeps...

Reuters - Negotiators on Wednesday reached a sweeping tax cut deal that provides a victory to President Barack Obama and his fellow Democrats in Congress and frees Republicans of an issue that threatened to stalk them to the November elections.

The Truth-o-Meter says: Mostly False | Citing Congressional Budget Office, chamber ad says unemployment could exceed 9 percent

This ad is a positive push for business-friendly policies and politicians, brought to you by the U.S. Chamber of Commerce. But in making its case, the video ad aimed at Illinois voters includes a couple of scary phrases: • 13.1 million Americans out of work • CBO: Unemployment Could Top 9 percent in 2013 We wondered if the Congressional Budget Office, a non-partisan arm of Congress that analyzes the financial impact of federal laws, is really projecting that high an unemployment rate next year. The CBO report The CBO’s ...

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AP - Promoting farm subsidies was once a no-brainer for rural members of Congress seeking re-election. This year, it's a bit trickier.

Daily Caller - Congressional Republicans are now interested in examining the Media Matters For America‘s tax-exempt status, The Daily Caller has learned. Doing so would cause the GOP to wade into the complex world of tax laws that govern “exempt organizations” such as Media Matters and more than 1 million other charitable organizations that are exempt from federal income tax.

 

The Tea Party isn’t dead. It’s just looking down ballot. While fiscal conservatives remain split over the GOP presidential candidates, grassroots activists are coalescing around a stellar slate of limited-government candidates looking to reinforce and reenergize the right in Washington.

Keep reading this post . . .

AP - Treasury Secretary Timothy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare.

AP - After years of procrastination, the White House and Congress have suddenly boosted a long-term plan to improve the nation's roads, bridges and transit systems to the top of the political agenda.