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Bob menendez will be back in the upper chamber in time to debate this tax bill that s likely going to be headed to senate or some form of this tax bill perhaps in conference. again, that s what s happening at the bottom of your screen here. that of course california democrat nancy pelosi. she s been on the floor of the house for about ten minutes now. railing against this tax bill that, again, likely to pass the house that is a vote that is expected to happen here at some point in the next 30 minutes we re told. josh barrow here with us to talk about that bill. so let s go back to this tax bill. just a moment. for students, specifically, what are some of the criticisms about this house bill in particular? well, there are three big changes that are important for students that are negative. the one that would have the broughtest impact is the student loan interest would no longer be deductible from taxes. you could still be able to deduct mortgage interest but that tax deduction could ....
At all. first of all, this is not been expanded. this is exactly the same standard that is found in the federal law that was signed into law by president bill clinton. there is broader. overwhelming bipartisan majority. broader language. this is the same standard that exists in 19 other states. i disagree with the prem este beginning of your story, we den know what will happen. we do know what will happen. we ve had these laws for 20 years. this one is broader. it s not about what has happened in the past. you designed this law for a reason. it s the exact standard the free substantial burden the compelling government interests and the least perspective means is the exact same standards. but you are expanding it to those who can use it. it is the broughtest language yesterday of who qualifies against businesses to give businesses as much leverage as possible in this situation. when you look at the foundation of this bill. there is a picture that s circulateing around of t ....
forces in libya are free tonight. late word of a new kidnapping and last ditch battles that may be linked to moammar gadhafi s escape plan. and cnn goes inside the virginia nuclear power plant near the epicenter of that historic quake. we have a lot of questions about nuclear safety and whether the east coast is prepared if another big one hits. wolf blitzer s off today. i m joe johns. you re in the situation room. hurricane irene is bearing town on the bahamas with winds of up to 120 miles an hour right now, and the national weather service warns this category 3 monster could be upgraded, upgraded to a category 4 tomorrow. that means irene could be capable of catastrophic damage when it slams the east coast in the days ahead. the storm has been pounding the turks and caicos and other islands and gaining strength along the way. there are reports of damage but so far no serious injuries. we do have a view from space that gives you an idea of just how big the storm ....