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House and Senate sit on tax bills the other passed

Barack Obama

It may not sound like it from the rhetoric, but both the House and Senate have passed separate bills to delay big tax increases awaiting nearly every taxpayer next year if Congress and the White House can't agree on a plan to avert the "fiscal cliff."...


U.S. tweaks Fannie Mae, Freddie Mac bailout terms, requires all profits

The Treasury said on Friday it is changing the way Fannie Mae and Freddie Mac will repay taxpayers in a move the Obama administration said would accelerate the winding down of the government-owned mortgage financiers.


Fannie and Freddie Reports Offer Positive Sign for Housing

Housing Market

Fannie Mae and Freddie Mac, the two mortgage-finance giants, this week reported some of their best quarterly results since the real estate collapse. On Wednesday, Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.


Utah congressman wants to cut taxpayer-funded perks for ex-presidents, including George W. Bush

Utah congressman wants to cut taxpayer-funded perks for ex-presidents, including George W. Bush.


US taxpayers getting cut of 'Passion' prequel

Jorge Vazquez Sanchez

The American taxpayer may be getting into the movie business. Federal prosecutors have forced a Mexican drug trafficker to turn over his stake in a planned prequel to Mel Gibson's 2004 blockbuster "The Passion of the Christ." It's a real-life case of drugs and extortion that could itself make a pretty good screenplay.


US bailout fund 'may make loss'

The Troubled Asset Relief Program calmed markets and underpinned the US economy during the financial crisis. But despite the US Treasury saying last week that Tarp would make a profit, the latest report suggests otherwise. The report said it was a "misconception that Tarp will make a profit".


IRS: Beware of Dirty Dozen tax scams

Tax Forms

The Internal Revenue Service has issued its annual “Dirty Dozen” tax scams list, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.


Occupy protests cost nation's cities at least $13M

Occupy protests cost nation's cities at least $13M

During the first two months of the nationwide Occupy protests, the movement that is demanding more out of the wealthiest Americans cost local taxpayers at least $13 million in police overtime and other municipal services, according to a survey by The Associated Press....


House probing $528M loan to failed solar company

House probing $528M loan to failed solar company

Leaders of a House subcommittee want to make the Obama administration answer for putting taxpayers on the hook for a half-billion-dollar loan to a now-bankrupt solar panel manufacturer. A hearing Wednesday will examine what went wrong ...


Freddie Mac seeks $1.5 billion from taxpayers

Mortgage finance giant Freddie Mac FMCC.OB said on Monday it would ask for an additional $1.5 billion from taxpayers due to losses stemming from the weak housing market.


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