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Obama OKs modest tax changes after seeking ideas (AP)
[11 mins][Kansas]
President-elect Barack Obama speaks about the economy, Thursday, Jan. 8, 2009, at George Mason University in Fairfax, Va. (AP Photo/Charles Dharapak)AP - Pushed by fellow Democrats, President-elect Barack Obama agreed to modest changes in his proposed tax cuts on Friday after inviting lawmakers to "just show me" ideas for fixing an economy shedding jobs at an alarming rate. Democratic congressional officials said that Obama aides came under pressure in closed-door talks to jettison or significantly alter a proposed tax credit for creating jobs.
Obama team, Rep. Frank eye bailout fund overhaul (Reuters)
[18 mins][Washington, DC]
House Financial Services Committee Chairman Rep. Barney Frank speaks at the Office of Thrift Supervision National Housing Forum in Washington, December 8, 2008. (Jim Young/Reuters)Reuters - President-elect Barack Obama and a key Democratic lawmaker revealed plans on Friday to overhaul the government's $700 billion financial rescue fund as a way to aid struggling homeowners and speed the flow of credit.

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