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articles.latimes.com — A $600-million bill to beef up border security should have been on its way to President Obama for signature after the House approved it Tuesday, but instead it has been derailed by a procedural glitch that requires a do-over by the Senate — which has adjourned until September.

The technical misstep embarrassed congressional leaders and put the brakes on quick approval of funding for Obama's plan to deploy another 1,500 Border Patrol and other law enforcement personnel along the border with Mexico.

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nytimes.com — As debate heats up over President Obama’s proposal to let the Bush tax cuts expire for the wealthy but to extend them for everyone else, a nonpartisan Congressional analysis circulated on Capitol Hill on Tuesday provides a look at the impact the plan would have on high-income taxpayers.

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blogs.reuters.com — The big market reaction following today’s FOMC statement took place in the 10-year Treasury bond, where yields sank to 2.77% right after the statement came out, from 2.82% beforehand. That’s a big move by Treasury-bond standards, and constitutes the continuation of a longer trend: the yield was above 3% as recently as July 29, and we’re now well into yields not seen except during the very worst part of the financial crisis, when the flight-to-quality trade was in full force.

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mcclatchydc.com — Downgrading its view of the economy, the Federal Reserve on Tuesday projected a "more modest" rate of recovery in the months ahead and announced that it will use proceeds from the mortgage bonds it owns to buy new Treasury debt in an effort to spark growth and investor confidence.

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thehill.com — The Obama administration has “assured” House Speaker Nancy Pelosi (D-Calif.) that $3.5 billion in renewable energy loan guarantees diverted for other policy priorities will be restored this year.

“The Speaker has been assured by the Obama administration that it will work to restore these funds so that loans planned for later this year can move forward,” according to a statement from Pelosi spokesman Drew Hammill.

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nytimes.com — Early last year, while still a rising G.O.P. star, Gov. Mark Sanford of South Carolina led a chorus of Republican governors criticizing the federal stimulus package and vowing to reject at least some of the money being directed to their states.

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dyn.politico.com — Included is $10 billion to preserve teaching jobs in the new school year, and $16.1 billion to help states cover their Medicaid payments for the first six months of 2011. More than past stimulus efforts, the bill pays for itself through a combination of tax reforms and often painful spending cuts, and the choices represent a new “common sense” message which Democrats hope will help them with voters in November.

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latimes.com — Congress on Tuesday gave final approval to a $26.1-billion aid package for cash-strapped states that will keep 161,000 teachers and thousands of police, fire and other local government workers from being laid off. The legislation was quickly signed by President Obama.

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thehill.com — The White House is simmering with anger at criticism from liberals who say President Obama is more concerned with deal-making than ideological purity.

During an interview with The Hill in his West Wing office, White House press secretary Robert Gibbs blasted liberal naysayers, whom he said would never regard anything the president did as good enough.

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bloomberg.com — This year, Gray and meteorologists at the U.S. National Hurricane Center say there’s more reason for concern that the sky will fall than any time since 2005, when Hurricane Katrina devastated New Orleans. At least 15 more “named” storms with winds of 39 miles per hour or more will develop before the 2010 season ends, Colorado State researchers predict.

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