An annual fight in the U.S. Congress over renewing scores of temporary tax breaks - including the corporate research tax credit and individual deductions for teachers' supplies and college tuition costs - got under way on Tuesday. In the Senate, the new chairman of the tax-writing Finance Committee unveiled legislation that would modestly trim the list of about 55 laws known as the "tax extenders" because they expire every year or two and need to be regularly extended. Oregon Democratic Senator Ron Wyden, who recently took over the committee, scheduled a review-and-amendment session for Thursday on the bipartisan bill that he is offering along with Utah's Orrin Hatch, the committee's top Republican member. The extenders list is chock-full of special tax breaks for businesses.
The sudden resignation of the US ambassador to India less than two years into her troubled term opens an opportunity for both sides to reboot strained ties ahead of an expected change in government, analysts say. Nancy Powell, US ambassador since 2012, had a torrid time at the helm of one of Washington's most important diplomatic missions as it became embroiled in one of the most serious downturns in relations in decades. New Delhi was incensed in late December when an Indian diplomat in New York was arrested, strip-searched and then pursued in court over allegations she violated visa rules by underpaying a domestic servant. A host of retaliatory measures taken by India over the arrest included the withdrawal of additional security measures at the US embassy and threats to close an embassy-run social club.
By David Lawder WASHINGTON (Reuters) - Representative Paul Ryan, the leading Republican voice on budget policy, rolled out a new fiscal blueprint on Tuesday that calls for deep cuts in domestic programs, increased defense spending and a goal of erasing annual deficits in 10 years. Ryan's budget, called the "Path to Prosperity," has almost no chance of passing the Democratic-controlled Senate but is expected to serve as a campaign manifesto for Republicans in November's congressional elections. It proposes to kill President Barack Obama's 2010 healthcare reforms and revives cuts in social programs such as the popular Medicare entitlement for the elderly that Ryan, who chairs the House Budget Committee, has proposed in other recent budgets.