The Note's Must-Reads for Wednesday, April 27, 2011

The Note's Must-Reads are a round-up of today's political headlines and stories from ABC News and the top U.S. newspapers. Posted Monday through Friday right here at

Compiled by ABC News Digital News Associates and Desk Assistants Jayce Henderson, Claudia Morales, Jacqueline Fernandez and Amanda VanAllen

GAS PRICES / OIL TAXES: The Wall Street Journal’s Neil King Jr. and Carol E. Lee: “ Gas Price Surge Triggers Political Brawl” Surging gasoline prices have triggered another energy brawl between the White House and congressional Republicans, this time over oil-company tax breaks, as both sides try to skirt voter blame for the increasing pain at the pump. LINK

The Washington Time’s Sean Lengell: “ Obama cites Boehner on oil tax breaks” Seizing on comments from Republican House Speaker John A. Boehner a day earlier, President Obama urged Congress Tuesday to end “unwarranted” tax breaks to big oil and gas companies and to invest the savings in alternative-energy sources. LINK LA Times’ Christi Parsons and Kathleen Hennessey: “ Obama Urges Repeal of Tax Breaks for Oil Firms” Seizing on an unexpected political opportunity, President Obama urged Congress to repeal tax breaks for oil companies and said he was "heartened" that the Republican House speaker had revived the idea. Although Speaker John A. Boehner (R-Ohio) may have veered a bit from GOP talking points on taxes this week — telling a television interviewer that the government is low on revenue and oil companies ought to pay "their fair share" — an aide said Boehner did not advocate the sweeping repeal of subsidies that the president supported. LINK The Hills’ Russell Berman and Ben Geman: “ Seeing Opening, White House Pounces on Boehner’s Words” President Obama seized on a rare opening by Speaker John Boehner (R-Ohio) and urged Congress to eliminate subsidies for major oil companies. With voters anxious over rising gas prices, the president fired off a letter Tuesday calling on congressional leaders to “take immediate action to eliminate unwarranted tax breaks for the oil and gas industry.” LINK

2012 ELECTION: ABC News' Amy Walter and Z. Byron Wolf: " Donald Trump and Ron Paul: Republican Fringe Out in Front of 2012 Field" With two of the more colorful potential 2012 Republican presidential candidates, Rep. Ron Paul and Donald Trump, making so many headlines, GOP establishment types desperate to show their donors and their base that they've got a real shot at beating President Obama in 2012 have to be worried. Trump, the real estate developer and reality TV star, is scheduled to land his helicopter Wednesday morning at Pease Air Force Base in New Hampshire, where he's sure to attract lots of media attention and more questions about his investigation into Obama's place of birth. LINK The New York Times’ Michael Shear: “ As Ron Paul Weighs Presidential Run, His Issues Are Already Being Debated” Representative Ron Paul of Texas announced Tuesday the formation of a presidential exploratory committee, saying he anticipated “a much, much more significant campaign” than he ran in 2008 should he decide to become an official candidate for the presidency in 2012. LINK

The Washington Post’s Dan Eggenand T.W. Farnam: “ Trump’s donation history shows Democratic favoritism” Billionaire Donald J. Trump, an early presidential favorite among tea party activists, has a highly unusual history of political contributions for a prospective Republican candidate: He has given most of his money to the other side. LINK

TREASURY: The Washington Post’s Lori Montgomery and Brady Dennis: “ Treasury quietly plans for failure to raise debt ceiling” The White House is warning that catastrophe will strike if Congress fails to raise the limit on the national debt: With too little cash to pay creditors, the U.S. government would default. Interest rates would skyrocket. And the economic recovery would collapse. LINK

DEMOCRATS / WHITE HOUSE / TEA PARTY: USA Today’s Fredreka Schouten and Jack Gillum: “ Tea Party-backed House members rake in campaign contributions from special interests” Tea Party-backed freshmen, elected in 2010's anti-establishment wave, have quickly learned Washington's fundraising practices. LINK Politico’s Josh Gerstein: “ Eric Holder soldiers on” For two years, Attorney General Eric Holder has endured a hail of withering criticism from Congress, battled with White House aides and faced the humiliation of seeing the White House retreat from his very public decision to put the September 11 suspects on trial in federal court in Manhattan. Yet, as other key figures in the administration and the Justice Department are bowing out, Holder is vowing to soldier on. LINK

OTHER: The Boston Globe’s Noah Bierman and Brian C. Mooney: “ Khazei announces Senate run, saying he’ll fight interest groups” Alan Khazei has officially declared he is running for the Democratic nomination for the seat currently held by Republican US Senator Scott Brown. On his website, through Twitter, and on Facebook, the cofounder of City Year sent out the same message yesterday. “It’s official,’’ he wrote. “I’m in.’’ A 2 1/2-minute announcement video posted on his website offered a more detailed look at his campaign themes. LINK

ABC NEWS VIDEOS: " Ron Paul Announces Exploratory Committee" LINK " Gas Prices: What Can Obama Do?" LINK " Boehner: 'It's Responsible' to Increase Debt Limit" LINK

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