This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Election-year politics shape congressional agenda

President Barack Obama already has scheduled a White House event on Tuesday with some whose benefits expired at the end of December.

"Instead of punishing families who can least afford it, Republicans should make it their New Year's resolution to do the right thing and restore this vital economic security for their constituents right now," Obama said Saturday in his weekly radio and Internet address.

Republicans hinted they might go along with extending benefits if they win spending cuts from Reid elsewhere to pay for them.

"If the senator comes up with any kind of a reasonable idea to offset the $26 billion, I think that he might find some people that are willing to talk to him," said Rep. Matt Salmon, R-Ariz.

Schumer, one of his party's leaders, said Democrats would prefer to pass the proposal as is a without a way to pay for it, as has been the case for previous extensions. But he told reporters Sunday he would listen to GOP suggestions.

During a separate interview, Reid predicted widespread inaction would be the norm "unless the Republicans in Congress decide they should do something for the American people, I'm sorry to say."

Such rancor ruled in the first session of the 113th Congress with few bills passed and sent to the president. The combination of divided government and the upcoming elections stand as an obstacle to major legislation in the second session, counting down to November when all 435 House seats and 35 Senate seats will be on the ballot.

Still, Congress must deal with some significant unfinished business before delving deep into political votes and extended breaks for campaigning.

The Senate was to vote Monday on Obama's nomination of Janet Yellen to become the head of the Federal Reserve. If confirmed, Yellen would become the first woman to fill the powerful post, replacing Ben Bernanke.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $129.09 0.00%
FB $79.75 0.00%
GOOG $571.34 0.00%
TSLA $197.32 0.00%
YHOO $44.11 0.00%

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs