Econ 101: October 26, 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.

  • According to a new report from the College Board, “the net cost of college is eating up a higher share of the typical family’s income in 2011.” [CNN Money]
  • President Obama will announce a new plan today “to consolidate federal student loans for millions of borrowers and expand income-based repayment for current students — both steps he will take without input from or action by Congress.” [Inside Higher Ed]
  • The White House supports House GOP legislation “that would repeal a 3 percent withholding requirement for government contractors and pay for it by altering the eligibility for Medicaid and other health programs.” [Bloomberg]
  • Federal prosecutors today will file charges “against Rajat K. Gupta, the most prominent business executive ensnared in an aggressive insider trading investigation.” [New York Times]
  • House Ways and Means Committee Chairman Dave Camp (R-MI) “will release a long-awaited proposal today to shield 95 percent of corporate profits held offshore from taxation in the U.S.” [Bloomberg]
  • Key disagreements remain on aspects of Europe’s economic rescue plan, “including how to give the region’s bailout fund greater firepower.” [Reuters]
  • According to a new Reuters survey, “economists now estimate U.S. gross domestic product grew at an annual pace of 2.5 percent.” [Reuters]
  • In an interview yesterday, Massachusetts Senate candidate Elizabeth Warren came out in strong support of Occupy Wall Street, saying “I created much of the intellectual foundation for what they do…I support what they do.” [The Daily Beast]