Blackstone Pushes to Delay Tax Increase Bill

Wall Street Journal says Romney's firm didn't always turn things around

(NEWSER) - Mitt Romney has touted his time at Bain Capital as proof that he's the "turnaround artist" America needs, but an analysis of the companies he took over shows that may not be entirely true. The Wall Street Journal looked at 77 businesses Bain invested in under Romney's leadership and found that 22% went bankrupt or closed their doors within eight years—a rate that appears to be higher than other buyout firms of that era, and which one Federal Reserve Bank researcher says "seems large." More»

But vote will have to wait because of snow

(NEWSER) - Senate Democrats revealed their long-awaited $87 billion jobs bill today, but thanks to the snow, lawmakers may not get around to voting on it for a while. The bill calls for a combination of tax breaks for businesses and construction projects to boost employment, and has the support of two Republicans: Chuck Grassley and Orrin Hatch. More»

Ball's in Reid's court

(NEWSER) - The Senate Finance Committee voted down both proposed versions of the public option this afternoon, setting up a showdown between conservative Democrats—who sided with Republicans in opposing the creation of a government plan to compete with private insurers—and their liberal colleagues. Jay Rockefeller's amendment failed, 15-8, shortly before Chuck Schumer's reputedly more palatable proposal managed to sway two Democrats but went down to a 13-10 defeat. More»

(NEWSER) - Well, this should zip right along: Members of both parties on the Senate Finance Committee have drafted no fewer than 564 amendments to be considered when the panel takes up chairman Max Baucus' health care bill next week, reports Bloomberg. Expect to hear the phrases "public option"—Democrat Jay Rockefeller is still pushing for it—and "Cadillac plans" a lot. More»

(NEWSER) - Max Baucus took to the Wall Street Journal opinion page today to make the case for the health care reform bill he’s unveiling this morning. “Our plan would lower costs and would not add to the federal deficit,” he declares in the first of many statements about what he repeatedly calls “our plan,” and at one point calls the Senate Finance Committee plan. There’s just one problem: There seems to be no one beside Baucus behind the bill. More»