Articles by David Lawder

House Sends $50.5 Billion Sandy Disaster Aid Bill to Senate

The House of Representatives on Tuesday approved $50.5 billion in long-delayed federal disaster aid to victims of Superstorm Sandy, but not before Republicans flexed their budget-cutting muscle to strike some spending provisions. The aid package for the storm that ravaged …

House Republicans Look to Split $60B Sandy Aid Bill in Half

The U.S. House of Representatives is expected to split a $60.4 billion Superstorm Sandy disaster aid bill into two parts, staging votes on $27 billion to fund immediate recovery needs and $33 billion for long-term and other projects, Republican lawmakers …

Senate Republicans Move to Cut Sandy Aid to $24 Billion

U.S. Senate Republicans sought to slash a $60.4 billion aid bill to cover reconstruction after Superstorm Sandy, proposing on Wednesday to fund only $23.8 billion in immediate disaster relief while assessing longer-term needs. The far smaller initial amount is one …

Senate Begins Debating $60 Billion Sandy Relief Bill

The U.S. Senate on Monday began debating a $60.4 billion aid bill to rebuild communities devastated by Superstorm Sandy amid criticism by conservative groups who said the measure was loaded with wasteful, non-disaster spending. The Democratic-controlled Senate is looking to …

White House Request for Sandy Aid Expected to Include Flood Insurance Funds

The White House is expected in the coming days to send Congress a multibillion dollar request to fund recovery from Superstorm Sandy, which caused an estimated $71 billion in damages in New York and New Jersey. Congressional aides said there …

Cost of Obama Healthcare Law Lowered Under Latest Congressional Analysis

The estimated net costs of expanding healthcare coverage under President Barack Obama’s landmark restructuring have been reduced by $48 billion through 2021, though fewer people would be covered under private insurance plans, a new analysis from the nonpartisan Congressional Budget …

US, India Pledge Market Access Cooperation; Could Ease Insurance Barriers

Finance chiefs from the United States and India pledged on Tuesday to continue efforts to open up India’s financial, retail, manufacturing and infrastructure sectors to competition but offered no specific measures to boost access for American firms. Wrapping up annual …

Treasury Defends Dodd-Frank Reforms; Promises Insurance Expert Soon

The Obama administration fired a fresh salvo at Wall Street Tuesday, telling critics of the U.S. financial reform law to knock off their attacks. “We will continue to oppose efforts to slow down, weaken, or repeal these essential reforms,” Deputy …

U.S. Treasury Expects $6.3 Billion from AIG’s MetLife Sale

American International Group Inc. sold $9.6 billion worth of MetLife Inc. shares on Wednesday, producing gross proceeds of about $6.3 billion to accelerate its payback of U.S. Treasury bailout funds. AIG and the Treasury said a total of 146.8 million …

UPDATE – Treasury Expects $6.3 Billion from AIG’s Metlife Share Sale

American International Group sold $9.6 billion worth of MetLife Inc shares on Wednesday, producing gross proceeds of about $6.3 billion to accelerate its payback of U.S. Treasury bailout funds. AIG and the Treasury said a total of 146.8 million shares …