Federal News

Massey CEO Accuses Feds of Lying in West Virginia Mine Probe

The embattled chief executive of Massey Energy has accused federal regulators of not making a genuine effort to investigate the explosion that killed 29 miners and injured two at the company’s Upper Big Branch mine in West Virginia. Instead, the …

Senate Extends Flood Insurance for 1 Year; Measure Goes to House

The U.S. Senate last night passed by unanimous consent a measure extending the National Flood Insurance Program for one year until Sept. 30, 2011. The Senate one-year reauthorization must now pass the House of Representatives, which in July passed a …

Republicans Want to Revisit Financial Regulation Reform Bill

Republicans will reopen the broad Wall Street reform law and overhaul the newly created consumer protection bureau if they regain control of Congress after the November elections, a leading lawmaker said Monday. Richard Shelby, the top Republican on the powerful …

Senate Panel to Hear Extending Flood Insurance Program This Week

The National Flood Insurance Program (NFIP) is set to expire on Sept. 30, just as the 2010 Atlantic Hurricane Season reaches its height. The House has already passed an extension, while a Senate panel is slated to hear a bill …

Warren Vows to End Financial ‘Tricks and Traps’ with New Consumer Agency

Wall Street critic Elizabeth Warren said Friday she accepted the job of setting up a consumer financial protection agency for U.S. President Barack Obama and declared that the time for financial “tricks and traps” was over. Obama was expected to …

Federal Reform Seen Having Moderate Impact on Health Spending

U.S. health spending is projected to reach nearly $4.6 trillion by 2019, growing at an average annual rate over the next decade of 6.3 percent, according to economists at the Centers for Medicare and Medicaid Services (CMS). By 2019, health …

IRS Releases Draft Form for Small Firms to Claim Health Care Tax Credit

The Internal Revenue Service has released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year. The IRS also …

Financial Reforms Will Help Curb Systemic Risk, Regulators Tell Panel

New powers from the financial reform law will help avoid a repeat of 2008’s frenzied sale of Wachovia and the wreckage that followed the collapse of Lehman Brothers, U.S. regulators said Wednesday. A commission investigating the causes of the financial …

Payouts to Injured Nuclear Weapons Workers Reach $6 Billion

The federal government has paid more than $6 billion in benefits and compensation to employees who became injured working in nuclear weapons industry. More than 61,000 workers have received the payments in the nine years since the benefits law, Energy …

FEMA Chief Sees Progress 5 Years After Katrina Disaster

The head of the Federal Emergency Management Agency said his department is better able to quickly respond to disasters now, five years after Hurricane Katrina ravaged the U.S. Gulf Coast. FEMA was widely pilloried in the days after the 2005 …