Wednesday in politics: Obama in New Orleans, Senate focuses on tax-cut bills, and more

President Barack Obama wraps up a three-day, five-state campaign swing Wednesday with fundraisers in New Orleans — including one at The House of Blues — and a speech at the 2012 National Urban League Conference, which also is being held in The Big Easy.

Back on Capitol Hill, the Senate is expected to vote on a Democratic bill that would extend expiring Bush-era tax cuts for everyone except individuals making at least $200,000 yearly and couples earning more than $250,000. Meanwhile, Republicans are pushing a tax-cut bill that would include higher incomes.

Chances of the Senate passing either bill? Zero is the best bet.

So what's the point? The two measures give Democrats and Republicans an opportunity to show voters the differences in their tax-cut policies, and they allow each party to accuse the other of pushing the country toward more economic problems.

Mitt Romney arrives in London on Wednesday for the beginning of his overseas trip. He'll attend the opening games of the 2012 Summer Olympics and meet with top British officials before heading onto Israel and Poland. On Tuesday, Romney accused Obama of having "diminished American leadership" around the world.

While Romney is settling in in London , his campaign will hold 24 events across 12 states Wednesday pressing their "you didn't build that" attacks against Obama. The states: Pennsylvania, Wisconsin, Virginia, Ohio, Iowa, Florida, Missouri, North Carolina, Michigan, New Hampshire, New Mexico and Nevada.

Also worth noting Wednesday: Vice President Biden will address the International Association of Fire Fighters Convention in Philadelphia and Treasury Secretary Tim Geithner will testify before the House Committee on Financial Services on the Financial Stability Oversight Council report.

And then there is this: Politico points out that Rep. Ron Paul's Audit the Fed bill is expected to pass the House on Wednesday. It has been a decade since Paul first introduced his bill. It originally was ignored. Now it has 270 co-sponsors.

Sources: Yahoo! News, ABC News, Associated Press, Politico.

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