10 things you need to know today: July 11, 2012

Speaker of the House John Boehner (R-Ohio) speaks during a news conference July 10 on Capitol Hill: House Republican leadership discussed President Obama&#039;s push to extend tax cuts for middle

(Image credit: Alex Wong/Getty Images)

last updated 8 January 2015

1. SPAIN ANNOUNCES $80 BILLION IN CUTS AND TAX INCREASES

Spanish Prime Minister Mariano Rajoy has unveiled an austerity plan with 65 billion euros ($80 billion) worth of spending cuts and tax increases. Under the new austerity package — Spain's fourth in seven months — unemployment benefits will be scaled back, public workers will no longer receive year-end bonuses, local governments will be consolidated, a tax break for home buyers will be eliminated, and the sales levy will be raised from 18 to 21 percent. Rajoy's announcement comes as European financial ministers finalize a 100-billion-euro bailout for Spain. "I know that the measures I've announced aren't agreeable," the prime minister said in an address to Parliament Wednesday. "They aren't agreeable but they are essential. We are in an extraordinarily serious situation." [Bloomberg]

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House Republicans are readying yet another vote to symbolically repeal President Obama's health-care reform. The latest push comes just a few weeks after the conservative-led Supreme Court upheld the constitutionality of the law. Since Obama signed the health-care law, in March 2010, the House has voted to repeal it more than 30 times, and all attempts have been stopped by the Democratic-controlled Senate.[Associated Press]

In Libya, the Muslim Brotherhood is refusing to accept that a party led by a U.S.-educated academic, Mahmoud Jibril, has come out ahead. Partial results in the country's parliamentary elections put Jibril's party in first place and the Muslim Brother's Justice and Construction party in second. The final results in Libya's first free national elections in more than four decades could be announced later on Wednesday. [Bloomberg]

According to a Quinnipiac University poll released Wednesday, President Obama has 46 percent support compared with Mitt Romney's 43 percent. Obama is benefiting from the support of unmarried people — 54 percent favor the Democrat — and he's especially popular with single women, who favor him over Romney 60 to 31 percent. "Married voters are more likely to focus on the economy and health care, while single voters are more focused on issues such as gay rights and reproductive issues," says a Quinnipiac assistant director. [Bloomberg]

Doctors say that the World Health Organization and the Cambodian Ministry of Health will officially conclude that the mystery illness that has killed dozens of children is a combination of pathogens, including dengue, enterovirus 71, and streptococcus suis. Officials also learned that the use of steroids to treat the illness actually made it worse by suppressing the children's immune systems. [CNN]

Luxury retailer Neiman Marcus announced Tuesday that it is partnering with big-box-discount-store Target to sell a small collection from two dozen American designers for the holidays. Participating designers include Diane Von Furstenberg, Rodarte, and Tory Burch. Both chains will offer the same items. The unusual pairing is Neiman's latest attempt to appeal to a broader range of customers. [Wall Street Journal]

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