Media

The Budget Committee is currently holding a hearing, "The Near-Term Outlook for the U.S. Economy." Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System, will testify.

Watch the hearing live via committee webcast or on C Span 2.

Read Bernanke's testimony as prepared (pdf) >>

Rep. Chet Edwards (TX-17) questions Bernanke on making the current tax cuts permanent:

The House has again passed the Defense Authorization bill, rejecting President Bush's claim of a "pocket veto" and treating his actions as a standard veto. As a result, troops will now get the pay raise and bonuses authorized in the legislation and delayed by the President's veto.

Armed Services Committee Chairman Ike Skelton explained the scenario:

The House has just passed the S-MINER (Supplemental Mine Improvement and New Emergency Response) Act, H.R. 2768 by a vote of 214-199. This bill builds on the MINER Act of 2006 -- providing critical mine safety reforms that were unaddressed in the 2006 legislation. It adds new safeguards for retreat mining, toughens the standards for explosion-proof seals at mines, improves the safety of conveyer belts used in mines, strengthens MSHA's enforcement hand, and strengthens miners' rights by establishing a new Miner Ombudsman. Mining fatalities occur at a rate more than seven times the average for all private industries, exceeding other dangerous occupations such as construction and trucking.

The House has just passed a resolution condemning the assassination of former Pakistani Prime Minister Benazir Bhutto and reaffirming the commitment of the United States to assist the people of Pakistan in combating terrorist activity and promoting a free and democratic Pakistan. Speaker Nancy Pelosi spoke on the bill this morning:

Speaker Pelosi: "Benazir Bhutto, about 15 years ago she came to this chamber of the Congress, one of the first women ever to address a joint session of Congress. Only in her 30's, I believe, at the time, she inspired us, she filled us with hope and the confidence which she projected gave us the confidence that democracy could come to Pakistan. That was a while ago, and much has transpired since then. She's been in and out and in again as prime minister.

" A top House Democrat said Congress and the White House can come to an agreement on an economic-stimulus package -- provided Republicans don't insist the plan includes making President Bush's signature tax cuts permanent."