Government Policy & Legislation - The White House expresses pride in the Republican party's preliminary progress on a bill in Capitol Hill [2] - The President is in a precarious situation regarding the bill's passage [2] - The bill initially passed in the House by a narrow margin of 215 to 214 [3] - A congressman who initially voted yes in the House has indicated he would now vote no [3] - The President acknowledges uncertainty about meeting the July 4th deadline for the bill [4] Potential Economic Impact - Failure to pass the bill could result in a 68% tax increase [5] - Extending the debt ceiling is considered very important [5]

The Senate parliamentarian has been ruling on various different items. It's really have not been that many, especially when it comes to the tax policy. These are things that we have been very careful that when we were trying to draft the legislation over on the House side, that it would be bird compliant and be able to follow the rules of reconciliation and that would that would fly for the parliamentarian.However, a few things that might have to be changed will be done before we we send the final bill over ...