The G20 summit is under way in Cannes. While the European sovereign debt crisis is at the top of the agenda, one of the more noteworthy topics being discussed is a so-called "Robin Hood Tax," a financial transaction tax on stocks, bonds and derivatives trades. Microsoft founder and philanthropist Bill Gates is at the summit to address world leaders in support of the tax, which he says could be utilized to help developed nations meet their global aid obligations to the world's poorest countries.  

House Democrats rebelled Thursday against President Barack Obama's tax cut deal with Republicans, threatening to keep it off the floor. This comes after the House Democratic Caucus met yesterday and approved a motion to reject the provisions of the compromises — most notably the provisions related to the estate tax. Currently the deal struck between the President and Republicans would extend Bush-era tax cuts for the super-rich, and drastically ease the estate tax burden. We speak with the man leading the charge in the House Democratic caucus, Rep. Peter DeFazio (D-Ore.). He also weighs in on whether President Obama can count on his support in 2012. 

Forget the fight over fuel efficiency standards. An even more controversial measure is on the horizon — the transportation reauthorization bill. It only comes up for debate every six years and could transform the way we commute and travel. Here to explain the behemoth transportation bill is Congressman Peter DeFazio, a Democrat from Eugene, Oregon.

For more on the transportation debate taking place across the country, listen to Miles O'Brien's interview, Traffic Jam: How to Reduce Congestion, on The Takeaway. Also, hear the lively debate on the fuel standards, California, Here We Come: New Fuel Standards.