President Barack Obamas choice of Weiss, an investment banker at Lazard Ltd., has put him at the center of an ideological fight within the Democratic Party over the finance industrys clout in Washington.

The Oklahoma Republican is releasing a 300-plus-page report on the tax code today, that amounts to a greatest hits collection of tax breaks he wasnt able to erase from the federal code.

The U.S. Houses move toward a temporary patch that would expire Dec. 31 shows lawmakers desire to wrap up the congressional session as soon as possible and minimize disruption to the start of the tax-filing season in January.

The move reflects Republicans calculation that a $400 billion-plus bipartisan proposal that collapsed last week probably cant be resurrected.

Lawmakers are discussing a package that could increase the U.S. budget deficit by more than $400 billion over a decade.

The GAO says corporate and private-equity executives can accumulate millions of dollars in tax-favored retirement accounts, taking advantage of gaps in the law and IRS enforcement.

Republicans in control of the Senate will try to force a politically weakened President Barack Obama to accept changes to his health care law, back off on tough environmental rules and nominate judges they endorse.

Both parties in Congress agree the tax code is a mess and needs to be revamped. That doesnt mean it will happen.