ABC News Update

Latest headlines from ABC News
6:01 | 12/05/11

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Transcript for ABC News Update
President Obama is pushing congress to act now by extending and expanding the payroll tax cuts today the president said this'll put money back into the pockets of hardworking American. It will help families pay their bills. They will spur. Spending. It will spur hiring and it's the right thing to do. And that's why my -- -- -- -- not only extending the tax cut. But expanding it to give the typical working family tax cuts of 15100 dollars next just. Without the vote by congress the payroll tax cuts will expire at the end of the year some Republicans agree to cuts need to be extended. But the parties are stopped on how to pay for it. What a difference one weekend made in the GOP race for president in recent front runner is out. And the man all -- written not a few months ago is now the candidate to meet in BC's Karen Travers reports from Washington. Newt Gingrich is settling in at the top of the Republican field in just one month he's gone from it took first in Iowa. Today he released his first television ad in Iowa. Working together we can and will rebuild the American -- -- In Iowa it's Gingrich Ron Paul then Mitt Romney but top Republicans -- -- say don't crown Gingrich GS yet. With four weeks to go until the caucuses the -- register poll found out that 11%. Say they're undecided. And 60% could still change their mind. Over the weekend the Republican field got smaller when the her routine -- -- -- the line. Bogged down by the side -- this -- sexual misconduct the onetime front -- suspended his campaign all but he went down swinging. That Obama on Oprah on approval of allegations continue to be -- -- in the media. Sources close to -- -- said he's not about to endorse one of his former home. But if and when he does he -- -- -- -- he likes Newt Gingrich. And he's like -- say good things about Newt Gingrich. The Republican race is now a two man battle between Gingrich and Romney the former house speaker not only has the lead in Iowa. But he's also made a significant surge in New Hampshire a state that Romney's dominated up until now. But Gingrich has significant challenges namely turning success in the polls into success on the ground his campaign admits they have a lot of catching up to do. Karen Travers ABC news Washington. -- political power houses are meeting in New York City today Republican Newt Gingrich became the latest GOP candidate. To meet with one time candidate Donald Trump the real estate mogul did not endorse getting -- However saying he won't threw his support behind a candidate until after he is finished hosting a GOP debate in Iowa later this month. Developments in the European debt crisis are pushing American stocks higher this afternoon German Chancellor Angela Merkel and French president Nicholas Sarkozy. Met today to discuss a new treaty that would prevent another euros and disaster. The treaty would allow for more control over budgets and impose sanctions on countries that violate rules. To -- deficit under control. The head of the Federal Aviation Administration is in some hot water today Jerome Babbitt has been charged with a DY in Virginia according to police. That I was pulled over after an officer spotted him driving on the wrong side of the road Saturday night he has since taken a leave of absence from the FAA. The Supreme Court has agreed to hear an appeal from Secret Service agents who say they should be shielded from a lawsuit. The case stems from the 2006 arrest of a Colorado man who confronted Vice President Dick Cheney Stephen Howard's claims the arrest violated his free speech rights. How words -- Cheney on the shoulder then denying doing so under questioning. It's the inconsistency in his story over touching Cheney Becky. -- -- manner accusing former Boston Red Sox clubhouse manager Donald fits Patrick of sexually abusing them. The alleged abuse happened in the clubhouse at Fenway Park in the early ninety's both men. Are seeking five million dollar settlements. The statute of limitations to file lawsuits has expired. It's Patrick died six years ago the team settle lawsuits in 2003 with seven Florida man who said -- Patrick. Molested them during spring training in the 1970s. More fallout over the suicide death of a gay high school student in upstate New York a group of students accused of bullying fourteen year old Jamie Rodham Meyer. Have been suspended. Rhonda -- took his life back in September claiming he'd been bullied by other students and -- case gained national attention including. A response from Lady Gaga. School officials at North High School Amherst won't say how long students will be suspended. Plagued with scandal Atlanta mega church preacher bishop Eddie long is taking a leave of absence. Long made the announcement to his congregation yesterday saying he was stepping away to quote heal his family. His announcement came less and 48 hours after his wife and NASA filed for divorce. Long came under fire last year over allegations he had sexual relationships with four young men the case is settled but long denied all of it. Scientists have found the biggest black holes known to exist each won ten billion times the size of our sign. A team led by an astronomer at UC Berkeley discovered the two gigantic black holes in clusters of galaxies. 300 million -- light years away. That's actually relatively close on a galactic scale the previous black hole record holder was only six billion times the size of our son. Which itself is 100 times the size of --

This transcript has been automatically generated and may not be 100% accurate.

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