The Note: Cash and Carry

The New York Times analysis "found that the benefit of the lower taxes on investments was far more concentrated on the very wealthiest Americans than the benefits of Mr. Bush's two previous tax cuts: on wages and other noninvestment income."


"Treasury Secretary John W. Snow has expressed interest in leaving his job in the next several months, a person close to him said Tuesday, as speculation raced through Washington that the White House was seeking Mr. Snow's replacement," writes Elisabeth Bumiller of the New York Times. LINK

More Bumiller: "Names circulating in Republican circles as possibilities for the Treasury job include Stanley O'Neal, the chairman and chief executive of Merrill Lynch, and Henry M. Paulson Jr., the chief executive of Goldman Sachs"

Like the New York Times, the Wall Street Journal has "one person familiar with Mr. Snow's thinking" saying Treasury Secretary is considering quitting his post before year's end. LINK

Democrats' agenda:

Alexander Bolton of the Hill details The Prevention First Act sponsored by Sen. Harry Reid (D-NV), which is expected to "strengthen the party's position on abortion rights." LINK

Big Casino budget politics:

House Majority Leader John Boehner said the budget will reach the House floor this week, per Jennifer Yachnin of Roll Call.

Abramoff affair:

John McCaslin, of the Washington Times, bumped into Abramoff lawyer Abbe Lowell who told him: "The media always gets it wrong. He'll serve less than that." LINK


Brian Bilbray and Eric Roach top the GOP field for next week's special primary election to replace Rep. Duke Cunningham (R-CA) in California's 50th District, reports Roll Call's David M. Drucker. Francis Busby leads the Democratic field.


The DCCC is all smiles this morning at the sight of two stories showing the reluctance of Republican House Members to be seen with President Bush and Vice President Cheney.

Neil Modie of the Seattle Post-Intelligencer writes up of Rep. Dave Reichert's decline and eventual acceptance of an invitation to attend a fundraising event with Vice President Cheney LINK and the AP's Susan Haigh has Reps. Rob Simmons (R-CT) and Nancy Johnson (R-CT) staying in Washington while President Bush visits their home state. LINK

"Democrats are eager for President Bush to appear in Connecticut today, visualizing his embrace with" Rep. Shays "as just the picture they need to defeat the veteran congressman," the Hartford Courant's David Lightman reports. "But Shays, who plans to travel to Bridgeport with Bush today for a discussion of health savings accounts at Bridgeport's Playhouse on the Green, regards the visit differently." LINK

The New York Daily News writes up Rich Galen's move to KT McFarland's campaign to defeat Sen. Hillary Clinton. LINK

The Washington Post gives A1 treatment to a new Maryland voting law that critics believe will give Democrats an unfair advantage in the state's key gubernatorial and U.S. Senate races this November. LINK

"After studying the bill, Republican lawmakers discovered that it spells out 21 addresses where polls must be open from 7 a.m. to 8 p.m. during the week leading up to Election Day. The bill also enhances the power of the state elections administrator -- a Democratic appointee -- to oversee actions of local election officials appointed by Republicans."

The Washington Post editorial board condemns the new Maryland law: LINK

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