VENTURE CAPITAL POST

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.

The billionaire and activist investor, Carl Icahn announced that he is trying to lobby the congress to pass a new tax reform law that will not allow any US corporation from running business overseas just to avoid taxes. According to Icahn, he is planning to put forward $150 million into the new law known as super-PAC.

Congress narrowly averted a partial shutdown of the U.S. domestic security agency late on Friday night, but the forces behind the chaotic episode remain - fractious Republicans and House Speaker John Boehner's lack of control over them.

As Washington has tightened its belt in recent years, the budget cuts have sliced most deeply in states where President Obama is unpopular, according to an analysis of federal spending by Reuters.

U.S. telecommunications regulators will vote on Thursday on whether to formally propose new "net neutrality" rules that may let Internet service providers charge content companies for faster and more reliable delivery of their traffic to users.

Eateries, tourist services, even larger firms fear for the numbers as a result of the government shutdown that lead to tepid business activity in the country.

The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.