OVERNIGHT MONEY: The year’s final bills appear headed for resolution

In the Capitol on Thursday night, the mood was certainly merrier, with several senators wishing waiting reporters a “Merry Christmas.”

Now we’ll have to see what’s under the congressional tree come Friday morning.

{mosads}The House-Senate 1,200-page omnibus spending package should be there, and we’ll have to see what else. It could take another day of talks to reach an accord on unemployment benefits, the payroll tax cut and the “doc fix.”

The conference report could be ready on Thursday night for Friday consideration. 

Lawmakers wouldn’t provide many hints as to how deliberations would shake out on issues such as unemployment benefits compensation.

Democrats also are pushing for the addition of other expiring tax breaks, including several for renewable energy. So far, no agreement has been reached on linking those to a final bill.

They did make it clear, though, that the Democrats’ proposed millionaires surtax is being put on ice.

Work will likely slip into the weekend but probably won’t go into next week. 

So it looks like Congress, in the end, will get out the door for the year by passing all of their priorities and staving off a government shutdown. 

Ho, ho, ho. 

WHAT ELSE TO WATCH FOR

Troubles abroad: A House Oversight subcommittee will drill down on the European debt crisis tomorrow and figure exactly what financial storms across the ocean could mean for the economy back home. Top officials from the Federal Reserve and Treasury Department are expected to testify. Fed Chairman Ben Bernanke just briefed GOP senators Wednesday on the threat Europe might pose to the U.S. economic recovery, and the central bank recently made moves to make it cheaper for European banks to swap out foreign currencies for the almighty dollar.

Knocking out a few noms: The Senate Finance Committee will meet to vote on the nominations of Mary John Miller to be under secretary for domestic finance at the Treasury Department; Alastair Fitzpayne to be deputy under secretary for legislative affairs at the Treasury Department; Kathleen Kerrigan to be a judge of the U.S. Tax Court; and Henry Aaron to be a member of the Social Security Advisory Board.

ECONOMIC INDICATORS

Consumer Price Index (CPI): The Labor Department releases its measure of the price level of a fixed market basket of goods and services purchased by consumers. CPI is the most widely cited inflation indicator, and it is used to calculate cost of living adjustments for government programs. 

BREAKING THURSDAY

All done: Jon Corzine rebuffed allegations that he knew customer funds were improperly transferred leading up to the collapse of his former firm, MF Global, telling lawmakers that he never knew of such a thing.

He finished up his third and final appearance on Capitol Hill — for now — facing former colleagues and a barrage of criticism over his handling of MF Global. 

“Let me be clear: While the last few days of MF Global were chaotic, I did not instruct anyone to lend customer funds to MF Global or any of its affiliates, nor was I told that anyone had done so,” Corzine told a House Financial Services subcommittee.

WHAT YOU MIGHT HAVE MISSED

— SEC appeals court rejection of Citigroup settlement

— Poll: Majority want Congress to extend payroll tax break

— Line-item-veto bill moves forward after tense debate

— Mark Zandi: Economy should improve in 2012

— Senate Democrats continue push for simplified bank disclosures

— Jobless claims drop to three-year low

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