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Obamacare, Spending and IRS in Spotlight on Capitol Hill

The President unveiled his budget yesterday that would raise taxes on the wealthy and increase spending for social programs, defense and infrastructure. Republicans are opposed to most of the proposals. Today they'll get a chance to question both the Treasury Secretary Jack Lew and White House Budget Office Director Shaun Donovan when the Senate Budget Committee and the House Armed Services Committee hold hearings.

The House is expected to vote to repeal Obamacare again. The President will counter with a photo op at the White House with 10 Americans who've written to him about how they've benefited from the Affordable Care Act.

There is a 10:30 Senate Finance Committee hearing into troubles at the IRS. The targeting scandal is expected to be raised as the IRS Commissioner John Koskinen testifies.

The House Judiciary Committee holds a hearing on the lack of immigration law enforcement today. It comes as the Senate is expected to vote on funding for the Department of Homeland Security. Funding set to expire at the end of the month. Republicans have blocked funding for DHS in the House. The Senate looks unlikely to pass similar legislation. The DHS Secretary Jeh Johnson will hold a news conference at FEMA HQ to urge a clean funding bill to be passed.

There's also hearings on "World Wide Threats," with testimony from intelligence leaders at the House Armed Services Committee.

There's also a hearing on the President's change in relations with Cuba.

We get reports on factory orders and on car sales for January today. We also get earnings reports from Aetna and UPS. Yesterday stocks rallied as oil prices continued to tick up benefiting oil and gas companies. Oil has risen more than 11% in the past three sessions.

Jeb Bush gets some attention today in the Wall Street Journal as he hones his messaging in preparation for a likely White House run.

Various other presidential candidates are weighing in on the vaccination debate raging across the country as an outbreak of measles continues to spread. Chris Christie, Hillary Clinton, Rand Paul and President Obama all speaking out on the subject with various degrees of controversy. We'll talk to a medical panel today about the alarming return of measles.

Weather remains a big story today.. with slush turning to hard ice in much of the Upper Midwest and Northeast. Commutes have been nasty. More than 5000 flights were cancelled due to the storms, and Boston has seen 3 feet of snow in the past 10 days. We've got Fox team coverage.

There's a gathering of diplomats from around the world this week in Brussels. The escalating war between pro-Russian separatists (and Russians) and Ukrainians is topic #1. At least five killed and 13 injured in new fighting overnight in Eastern Ukraine.

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Clint Henderson