Federal Reserve Bank of St. Louis President James Bullard said Europe risks an extended period of low growth and deflation like Japan 's unless the European Central Bank acts with an aggressive quantitative easing program.
Energy Secretary Ernest Moniz said Tuesday he will put on hold about 20 applications to export liquefied natural gas until he reviews studies by the Energy Department and others on what impact the exports would have on domestic natural gas supplies and prices.
Moniz, who was sworn in Tuesday as the nation’s new energy secretary, said he promised during his confirmation hearing that he would “review what’s out there” before acting on proposals to export natural gas. Among the things Moniz said he wants to review is whether the data in the studies are outdated.
4 hrs ago | KTEN-TV Denison
A high-tech startup is wading into the gun control debate with a cellphone controller that would allow gun owners to know when their weapon is being moved - and disable it remotely.
4 hrs ago | The Wichita Eagle
This undated file photo shows al Qaida leader Osama bin Laden in Afghanistan. A federal appeals court is backing the U.S. government's decision not to release photos and video taken of Osama bin Laden during and after a raid in which the terrorist leader was killed by U.S. commandos.
4 hrs ago | WTVF Nashville
A federal court in San Francisco has struck down Arizona's ban on abortions after 20 weeks of pregnancy unless there's a medical emergency.
The tax law requires 501 organizations to operate exclusively to promote the "public welfare." In 1959 the IRS edited their tax codes to only require that they mostly promote the public welfare.
This loophole has allowed political activists to assume that they can spend up to 49% of their budgets on political ads, while still maintaining tax-exempt status that allows them to keep their donors secret.
This massive loophole was never authorized by Congress!
The current version of the Revenue Act of 1913 provides a tax exemption for:
Civil leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare or local associations of employees, the membership of which is limited to the employees of a designated person or persons in a particular municipality, and the net earnings of which are devoted exclusively to charitable, educational, or recreational purposes.
26 U.S.C. § 501(c)(4)(A)(emphasis added)Then in 1959 the IRS redefined the term "promotion of social welfare" to depart radically from the statute:
8 hrs ago | WTHR-TV Indianapolis
Rescue crews are working through the night after a monstrous tornado barreled through the Oklahoma City suburbs, demolishing an elementary school and reducing homes to piles of splintered wood.
8 hrs ago | SavannahNow
In this Aug. 2, 2012, file photo, then-Internal Revenue Service Commissioner Douglas Shulman testifies on Capitol Hill in Washington.
8 hrs ago | USA Today
President Obama will address the nation on the Oklahoma tornadoes at 10 a.m. Tuesday, the White House has announced.
After grounding for battery problems, United flew 787 from Houston to Chicago
Signaling confidence to the flying public that Boeing 787s are safe to fly, the CEOs of Boeing Co. and United Continental Holdings on Monday traveled from Houston to Chicago aboard a Dreamliner.
Monday's flight, which touched down at 1:14 p.m., early and without incident, marked the return to service of United-owned Dreamliners after the Boeing plane model was grounded for 100 days by aviation regulators worldwide because of overheating onboard batteries.
11 hrs ago | WAPT-TV Jackson
A Northern California tea party group filed the first lawsuit against the U.S. government stemming from the Internal Revenue Service targeting of conservative groups for more scrutiny as they applied for tax-exempt status.
Tesla Motors, the American maker of luxury electric cars, has been riding a wave of good publicity.
Its Model S sedan (base priced at $62,400, after federal tax credits) was just named Motor Trend Car of the Year. Reviewers at Consumer Reports gave the lithium-ion battery powered vehicle a rave.
And the company, headed by billionaire innovator Elon Musk, 41, posted a profit for the first time in its 10-year history — powered in part by zero-emission environmental credits..
A Miami man caught and killed the longest Burmese python ever captured in the state of Florida, according to the Florida Fish and Wildlife Conservation Commission.
A boulder-sized meteor slammed into the moon in March, igniting an explosion so bright that anyone looking up at the right moment might have spotted it, NASA announced Friday.
NASA’s Meteoroid Environment Office is reporting the discovery of the brightest impact seen on the moon in the eight year history of the monitoring program.
Some 300 lunar impact events have been logged over the years but this latest impact, from March 17, is considered many orders of magnitude brighter than anything else observed.
Cicadas aren't the only scientific rarity expected this month. At the end of May three planets will be visible to the naked eye in one small area of the sky.
12 hrs ago | WHDH
Authorities are set to release more than 300 photos on Tuesday that investigators took in the aftermath of the Tucson shooting rampage that killed six people and wounded former U.S. Rep.
16 hrs ago | WFLX-TV West Palm Beach
The Senate is debating cuts to the federally subsidized crop insurance program as it considers a massive farm bill this week.
New details emerged of what the White House knew about the Internal Revenue Service targeting of conservative groups, with spokesman Jay Carney disclosing Chief of Staff Denis McDonough was among the top officials made aware of the matter late last month.