Bipartisan negotiators in the US Congress have reached an agreement on spending levels in the 12 bills crucial in preventing a government shutdown.

To avert a looming partial government shutdown, Congress passed a short-term spending bill on Thursday.

The chairmen of Congress' top tax policy committees announced on Tuesday a bipartisan initiative to enhance the child tax credit and reintroduce various tax breaks for businesses.

Puerto Rico, the island territory of U.S. is in the crisis due to its surmounting debt. Governor Alejandro Garcia Padilla repeated the island's debt will lead to moratorium.

US President Barrack Obama has finally disclosed the 2017 US budget details. Never to shy away from what he deems right, even in the last year of presidency, he has included his long-term liberal plans that have been widely criticized by the Congress. The highlighted ones are his global climate change initiative, fee levied on crude oil, and enhanced medical care for cancer patients and drug addicts.

President Obama has rolled out a new set of regulations that lifts the Cuban trade embargo to a certain extent. The relaxed rules allow easy facilitation of trade, travel and finance between the two governments, a move taken to end the age-old cold war between them. While the embargo cannot be lifted completely unless Congress gives their consent, the Obama administration is convinced that this is a step in the right direction for improving the condition of the island.

The US congress is in session to finalize a new budget deal before the current US House Speaker, John Boehner steps down for retirement starting this Friday, October 30th.

Jon Stewart is using his influece to fight for the health benefits of more than 33,000 9/11 first responders

The fight between Pay-television companies and major US broadcasters, and TV over Internet startup Aereo would most likely see intervention from the US government, according to a report on Investors Business Daily today.

Industry executives and academics said mandatory budget cuts or sequestration have led to job losses and could eventually undermine the competitiveness of the US in the global economy, a Reuters report said.