President Obama calling for Credit Card Reform

President Barack Obama is calling for credit card reform.

Obama will be addressing a push for credit-card legislation with a town-hall meeting in New Mexico on Thursday after devoting much of his weekly radio address to the topic.

With the Senate scheduled to vote on its credit-card legislation this week, President Obama is embracing complaints from Americans about interest-rate increases, penalties and fees for their cards. He wants Congress to deliver legislation for him to sign by Memorial Day, on May 25.

“I’m calling on Congress … to pass a credit card reform bill that protects American consumers so that I can sign it into law by Memorial Day, there is no time for delay. We need a durable and successful flow of credit in our economy, but we can’t tolerate profits that depend upon misleading working families. Those days are over.”

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Georgetown University Hid Religious Symbols at White House Request - First 100 Days of Presidency - Politics FOXNews.com

Georgetown University Hid Religious Symbols at White House Request - First 100 Days of Presidency - Politics FOXNews.com

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Largest Federal Tobacco Tax Increase

Tobacco users are facing a huge financial hit as the single largest federal tobacco tax increase ever go into effect Wednesday, April 1st of 2009.
Tobacco taxes are increasing to finance a major expansion of health insurance for children.

Cigarette per-pack tax climbs from 39 cents to $1.01. Tax on chewing tobacco will go up from 19.5 cents per pound to 50 cents. The total expected to be raised over the 4 1/2 year-long health insurance expansion is nearly $33 billion.

Medical groups are hoping this will help persuade smokers to quit.

Congress is also considering legislation to empower the FDA to regulate tobacco. President Obama, who has agonized over his own cigarette habit, said he would sign such a bill.