The Note’s Must-Reads for Wednesday, January 5, 2011

By Jayson

Jan 5, 2011 3:59am

The Note's Must-Reads are a round-up of today's political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at www.abcnews.com

Compiled by ABC News Digital News Associates and Desk Assistants JAYCE HENDERSON, JACQUELINE FERNANDEZ and MOLLY HUNTER

ECONOMY / UNEMPLOYMENT:
Bloomberg’s Caroline Salas and Joshua Zumbru: “Fed May Keep Easing at ‘Full Throttle’ Until Jobless Rate Falls” Federal Reserve officials signaled they’ll probably push ahead with unprecedented stimulus until the recovery strengthens and many of the 15 million unemployed Americans find work. LINK

DEMS / G.O.P. / TEA PARTY / HEALTH CARE:
The Washington Post’s Paul Kane: “In House, new Republican majority plans to act fast to undo Obama’s agenda” Almost as soon as they take control of the House at noon Wednesday, Republicans will embark on a 20-day plan aimed at undoing major aspects of President Obama's agenda as they seek to take advantage of the weeks before the Senate's return and the president's State of the Union address. LINK

Newsweek’s Ben Adler: “Tea Party Patriots to Convene in Arizona” The Tea Party Patriots, a national umbrella organization for local Tea Party groups, announced on Tuesday morning that they will be celebrating the second anniversary of the Tea Party movement in late February with a "policy summit." The focus will be promoting the "the three core values of Fiscal Responsibility, Constitutionally Limited Government, and Free Markets," through politics, education, law, and culture. LINK

The Wall Street Journal’s Josh Mitchell: “Battle Lines Form Over Government’s Role” House Republican leaders said Tuesday highway and mass-transit programs should no longer be shielded from budget cuts, and immediately drew fire from states, the construction industry and the U.S. Chamber of Commerce. LINK

The Washington Times’ Stephen Dinan and Sean Lengell: “House to vote on repeal of health care law” It didn't save them from catastrophic losses at the polls, but Democrats say the nuts-and-bolts benefits already in place thanks to the health care law, such as coverage for young adults and people with pre-existing health conditions, will derail House Republicans' repeal efforts. LINK

The Hill’s Russell Berman: “’Cut and Grow’ Is New Mantra Of Incoming House GOP Majority” House Republicans pledged to run “a cut-and-grow majority” in the 112th Congress that begins Wednesday, arguing they can expand the economy while reducing government spending. The twin initiatives form the cornerstone of how Republicans hope to define themselves after a midterm election framed by GOP arguments that government had overreached under congressional Democrats and the Obama administration. LINK

The Hill’s Elise Viebeck: “Heading Into The Minority, Pelosi Abandons ‘@Speaker’ Twitter Handle” In a small but vivid nod to Wednesday's transition, outgoing House Speaker Nancy Pelosi (D-Calif.) changed her @SpeakerPelosi Twitter handle on Tuesday night. "I'm now @NancyPelosi – 2 characters shorter than @SpeakerPelosi," she said, adding, "[Retweet]ers rejoice!" LINK

Los Angeles Times’ Lisa Mascaro: “House Democrats Poised To Fight As Minority As President Obama to Washington on Tuesday urging Republicans to continue the cooperative spirit that marked the end of the last Congress, Democrats on Capitol Hill went on the attack, vowing to battle to preserve their legislative accomplishments despite a newly diminished position. Outgoing House Speaker Nancy Pelosi (D- San Francisco) denounced the Republican-led effort to repeal last year's healthcare overhaul, saying such a move would "do very serious violence to the national debt and deficit." LINK

CONGRESS:
Politico’s Jake Sherman: “Freshman representative: It’s time to party” Most fund-raisers in Washington are done in private rooms. Invitations are kept quiet and members of Congress slip in and out, to avoid being seen raising tens of thousands of dollars at swank restaurants and hotels when some Americans are struggling to hold. LINK

FORMER VICE PRESIDENT, DICK CHENEY:
ABC News’ Karen Travers: “Vice President Dick Cheney: In Need of Heart Transplant?” After a lengthy recovery period following heart surgery last summer, former Vice President Dick Cheney is quietly and slowly re-emerging in public, attending several holiday cocktail parties and planning to attend an event marking the 20th anniversary of the Persian Gulf War, the New York Times reports. LINK

The New York Times’ Helene Cooper, Lawrence Altman and Michael Shear: “Cheney is Back, With Heart Pump and New Outlook” A few days before Christmas, former Vice President Dick Cheney ended a self-imposed sabbatical from partisan politics to headline a fund-raiser for Maria Cino, a party operative and Bush administration official who is running to replace Michael Steele as head of the Republican National Committee. LINK

OTHER:
USA Today: “Judge says Rahm Emanuel is eligible for Chicago mayor” Former White House chief of staff Rahm Emanuel has been cleared to run for mayor of Chicago. Judge Mark Ballard of Cook County, Ill., today upheld the finding by the Chicago election board that Emanuel meets the city's residency requirement for mayor even though he spent most of the past two years in Washington as President Obama's top aide. LINK

ABC NEWS VIDEO:
Nancy Pelosi: ‘We Pledge to Work Together’LINK

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