Econ 101: September 23, 2011

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • The House early this morning “approved a stopgap spending bill to keep the government operating past Sept. 30 but inviting new conflict with the Democratic Senate over emergency disaster aid and proposed cuts from alternative energy programs.” [Politico]
  • The Obama administration’s “Buffett rule” — which is meant to ensure that millionaires don’t pay lower taxes than middle-class households — has received “a tepid response” from Democrats. [Reuters]
  • According to new data from the Federal Reserve, “mortgage lending declined last year amid weak demand and tight credit standards, with particularly sharp credit contractions in neighborhoods with many foreclosures.” [Wall Street Journal]
  • The Obama administration today will officially unveil its plan to “excuse states from key parts of No Child Left Behind, the federal education law, if they adopt certain education reforms.” [Washington Post]

  • Bank of America “is among a group of lenders that may face a wave of new lawsuits claiming cash-strapped counties were cheated out of millions of dollars by a system used for more than a decade to register mortgages.” [Bloomberg]
  • “A record 15.4 million suburban residents lived below the poverty line last year, up 11.5% from the year before,” according to a Brookings Institution analysis of Census data. [CNN Money]
  • Republicans have been demanding that billionaire investor Warren Buffett release his tax return. Turns our he already did. [TPMDC]
  • The Senate yesterday — by a vote of 70-27 — renewed the Trade Adjustment Assistance program, which helps workers who lose their jobs due to international trade. [The Hill]