An administration official said the tax breaks would save businesses $200 billion over two years, allowing companies to have more cash on hand. The president will outline the proposal during a speech on the economy in Cleveland Wednesday.

Amid an uptick in unemployment to 9.6 percent, and polls showing that the November election could be dismal for Democrats, Obama has promised to propose new steps to stimulate the economy. In addition to the business investment tax breaks, he will also call for a $50 billion infrastructure investment and a permanent expansion of research and development tax credits for companies.

The proposals would requires congressional approval, which is highly uncertain given Washington's partisan atmosphere.

Law firm Shapiro & Fishman has accused Attorney General Bill McCollum of pre-election grandstanding and “abuse of power” in connection with McCollum’s recent announcement that his office is conducting a foreclosure fraud investigation into that firm and two others.

The allegations are in response to a coordinated investigation announced by McCollum during an Aug. 10 press conference. McCollum said his office is looking at whether the three South Florida firms engaged in unfair and deceptive actions in their handling of foreclosure cases.

The other firms were the Law Offices of Marshall C. Watson in Fort Lauderdale and the Law Offices of David J. Stern, P.A. in Plantation.

The firm’s response came Friday in a motion to quash a subpoena in Palm Beach County Circuit Court.

A $10 billion toxic tort class action lawsuit has been filed against BP over alleged emissions from its troubled Texas City oil refinery, alleging that workers and residents in the area were exposed to benzene and other chemicals.  

More than 2,200 workers at the refinery and residents from the surrounding area filed the BP class action lawsuit on August 3 in the Galveston Division of the Southern District of Texas. The complaint alleges that for 40 days earlier this year, the company illegally released the chemical benzene into the atmosphere.

The benzene lawsuit comes just as BP, formerly known as British Petroleum, was finally able to stop the flow of oil from a well a mile under the surface of the Gulf of Mexico, which has caused a massive oil spill that is expected to cost the company tens of billions of dollars in oil spill lawsuits and clean up costs.

Plaintiffs in the BP Texas City refinery class action lawsuit say the company has been releasing benzene into the atmosphere at the plant due to a hydrogen compressor that broke down on April 6. The 2,212 plaintiffs allege that they suffered serious injuries and illnesses from benzene exposure.

Benzene is an industrial chemical that has been linked to the development of cancer, leukemia and other life-threatening health problems. It is a known carcinogen used as an industrial solvent in the production of plastic and synthetic rubber, as well as drugs and dyes.

BP’s Texas City Refinery is the third-largest oil refinery in the United States, and has been the subject of several major safety incidents. As recently as September, the U.S. Occupational Safety and Health Administration hit BP with an $87.4 million fine for not complying with a safety agreement made after a March 23, 2005 explosion and fire that killed 15 workers and injured more than 170 others.

In Arizona, the shooting death of a rancher blew the lid off simmering anger over border security and helped solidify support for a tough new immigration law. A similar eruption threatens in Virginia following the death of a Catholic nun in a car accident involving a man in the country illegally and accused of drunken driving.

The Benedictine Sisters of Virginia tried to discourage using the death of Sister Denise Mosier as a "forum of the illegal immigration agenda" and pleaded for a focus on "Christ's command to forgive."

"The sisters' mission is peace and love," said Corey Stewart, chairman of Prince William County's Board of Supervisors. "My mission is law enforcement and the protection of public safety."

Prince William County, about 25 miles southwest of Washington, D.C., stepped up its immigration enforcement in 2007 amid explosive growth of its Hispanic and immigrant populations. Under Stewart's leadership, the county implemented a local policy requiring police to determine the immigration status of all people arrested on suspicion of violating state or local laws.

The push for gay marriage in New Jersey suffered a setback Monday when the state Supreme Court said six gay couples who claim New Jersey has denied them the rights granted to married heterosexual couples must argue their case through the lower courts.
The court was split, 3-3, in the decision; four affirmative votes are needed for a motion to be granted.

Chief Justice Stuart Rabner and Justices Roberto Rivera-Soto and Helen Hoens said in an order that the issue "cannot be decided without the development of an appropriate trial-like record," and denied the plaintiffs' motion without prejudice.

They added that they reached no conclusion on the merits of the plaintiffs' allegations that the Civil Union Act violates their constitutional rights.

Goldman Sachs Group Inc. said Tuesday its second-quarter net income dropped 83 percent to $453 million as its trading revenue fell and it booked a charge for its settlement of civil fraud charges with the Securities and Exchange Commission.

The company's revenue fell short of expectations and helped send the stock market falling. Goldman followed IBM Corp. and Texas Instruments Inc., which late Monday reported revenue that disappointed investors.

Goldman's stock dropped $1.89 to $143.79 in morning trading.

Goldman took a $550 million charge to cover the cost of the settlement with the SEC that was announced last week. Earnings were also reduced by a one-time, $600 million charge tied to a new tax on bonuses in Britain.

Excluding the one-time costs, net income after payment of dividends on preferred stock came to $2.75 per share, easily topping the $2.08 analysts forecast. Analysts typically exclude one-time charges from their estimates.

Revenue fell 36 percent to $8.84 billion, short of the $8.94 billion predicted by analysts.

The drop in revenue that a number of companies have reported is unnerving investors, who see it as a sign that the economic recovery is stalling. Banks, however, have their own revenue issues. Goldman's trading revenue fell along with that of competitors including JPMorgan Chase & Co. and Bank of America Corp. that were hit hard by the spring plunge in the stock market. The drop in their revenue is adding to investors' concerns about how new federal regulations will affect banks' ability to profit from trading operations.