The IRS has admitted to targeting conservative groups seeking tax exempt status. And yesterday at a House hearing the IRS director of exempt organizations said, quote: "I have not done anything wrong." She then declined to testify. Lois Lerner's brief appearance at the committee was just the beginning of a stormy, five-hour session filled with angry outbursts and allegations of political motives.
NPR's Peter Overby reports.
PETER OVERBY, BYLINE: Lois Lerner did read a statement that she had done her job properly.
NPR's business news begins with a big payback to the Fed.
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GREENE: Three years ago President Obama's green energy loan program gave a $455 million federal loan to electric carmaker Tesla. Critics bashed the loan as risky. Yesterday, Tesla announced it had paid that loan back in full - and early. The company was one of five carmakers to get money into the program. Tesla was first to repay it. Transcript provided by NPR, Copyright NPR.
Chuck used to sell marijuana in California. But the legalization of medical marijuana in the state meant he was suddenly competing against hundreds of marijuana dispensaries. So he moved to New York, where marijuana is still 100 percent illegal. Since making the move, he says, he's quadrupled his income. (For the record: His name isn't really Chuck.)
You're listening to ALL THINGS CONSIDERED from NPR News.
For those who closely follow decisions made by the Federal Reserve, today's marquee event was the testimony of Fed Chairman Ben Bernanke. He appeared on Capitol Hill before the Joint Economic Committee of Congress. And some lawmakers asked Bernanke about concerns of chaos in the financial markets once the Fed stops pumping money into the economy. NPR's John Ydstie explains.
In the nearly impenetrable language that comes with his job, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday that even though the economy is doing better, the central bank needs to keep giving it a boost.
NPR's business news starts with Home Depot raising the roof.
Home Depot got a boost from the housing recovery in its first-quarter net income. It rose 18 percent; that exceeds expectations. The company acknowledged yesterday that while cool and wet spring weather had a negative impact on some of Home Depot's seasonal business, its core business stayed strong.
Home Depot's stock price rose by 2.5 percent with the news. Transcript provided by NPR, Copyright NPR.