1. On The Hill

    Congress Preps for Tax Battle

    The U.S. Capitol building is seen Saturday, Nov. 19, 2011, in Washington. The six Democrats and six Republicans on the Supercommittee, as it's familiarly called, have until next Wednesday Nov. 23, to come together on a deficit reduction plan. Otherwise Congress faces a stark alternative: allow payroll tax cuts and jobless aid for millions to expire or extend them and increase the nation's $15 trillion debt by at least $160 billion.  (AP Photo/Pablo Martinez Monsivais)

    Pablo Martinez Monsivais / AP Photo

    Congress is back from recess and ready to start fighting. The Senate is expected to vote on the “Buffett Rule”—the proposal that people who make more than $1 million a year will be required to pay 30 percent in federal taxes. The bill is expected to fail under Republican filibuster. Over in the House, Republicans are preparing to vote on a bill that raises deductions for businesses with fewer than 500 employees. It, too, is expected to fail.

    Read it at Talking Points Memo