Fitz File: Tuesday, March 4th, 2014 - DC News FOX 5 DC WTTG

Fitz File: Tuesday, March 4th, 2014

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Today is Tuesday March 4th, the 63rd day of 2014. There are 302 days left in the year.

OBAMA NEW BUDGET - Remember "allowance day" when you were a kid? it's kinda like that for Federal Agencies today. President Obama is set reveal how he wants money spent in the 2015 budget. Tuesday's the official release of The White Houses blueprint for fiscal roadmap 2015. Under last years budget deal Congress agreed to $1.014 trillion in spending for fiscal year 2015 on discretionary programs, which account for about 40% of overall spending. The White House is expected to want changes to the tax code to limit what it considers tax evasion by some U.S. companies with overseas operations, an increase in infrastructure money and expand the Earned Income Tax Credit for workers without kids.

SNOW TRAVEL LOSSES - Think that all this snow is costing a lot to clean up? It's also causing an avalanche in losses for airlines and airlines and passengers this year. Severe winter weather cost U.S. airline passengers $5.3 billion in expenses and missed workdays as carriers canceled and delayed trips. It's the worst amount of flight disruption since Sept. 11. The cost to airlines may be as much as $500 million on increased operating expenses and lost revenue. Bethesda, based MasFlight, an industry data tracker says cancellations from Dec. 1 through Feb. 28 totaled 108,600, almost double the average of previous winters of 57,600.

GENERIC DRUG LABELING - 2pm When you go to the pharmacy, do you really know what you're getting in that bottle when you agree to take a generic version of a drug? Sure they are cheaper, but labeling differences have been found between bran name pharmaceuticals and their Generic counterparts. Today the House Energy and Commerce Committee will look at concerns over FDA's proposed changes to generic drug labeling during a hearing on Capitol Hill. FDA officials, drug makers and public health advocates are expected to testify. Rayburn House Office Building 2123.

US UKRAINE AID - Are we seeing the start of an "Economic Cold War" between Russia & America? Secretary of State John Kerry flew to Kiev today to show U.S. support for the Ukraine government, and the Obama administration unveiled a $1 billion energy package. The moves came as the US prepares economic sanctions concerned that Moscow may launch it's army further into the mainland of the former Soviet republic. Kerry arrived as the Ukraine government struggles with a Russian makeover of Crimea, a strategic region in the country's southeast, and as Russian President Vladimir Putin said he wouldn't be slowed by economic sanctions imposed by the West.

Today's Weather:

@fox5weather: Cold enough for you? Historic cold this morning as low temps shatter records at Dulles and Baltimore. http://t.co/JKudsceNNz

Today's History:

In 1790, President George Washington signed a measure authorizing the first U.S. Census.

In 1861, Abraham Lincoln took the oath of office as the 16th president.

In 1932, Charles A. Lindbergh Jr., the 20-month-old son of Charles and Anne Lindbergh, was kidnapped from the family home near Hopewell, NJ

Today's Quote:

"Keep the circus going inside you, keep it going, don't take anything too seriously, it'll all work out in the end." — David Niven

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