The dust is finally settling from the Texas Primary Runoff, and the candidates are turning their focus to the final leg of the general election: their party's big moments in the spotlight at the National Conventions.

Ted Cruz will be headed to Tampa, as a headliner at the RNC, and San Antonio Mayor Julian Castro is set to keynote the DNC in Charlotte. Cruz's campaign tells us they haven't started working on his speech but that the themes he campaigned on do resonate with a national audience, like his stance on spending and deficit reduction.

It goes without saying, the Latino vote will be important in Texas, and nationwide, this November. Texas Democrats recently chose a Latino to lead their party into the future. Gilberto Hinojosa, the first Hispanic chairman of the Texas Democratic Party, joined us on "Capital Tonight" this week to share his take on the political influence of Latinos in our state, illustrated by the selection of Castro by the national Democratic party.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

Washington Gridlock

We've been talking a lot, lately, about the long to-do list waiting for lawmakers when they return to Washington. On it: deciding if they'll allow the so-called "Bush-Era" tax cuts to expire. Before Democrats and Republicans left the Hill for recess they staked out their positions on where they stand when it comes to taxing Americans, setting the groundwork for a bitter fight that could have a noticeable impact on our wallets.

If the two parties fail to reach a compromise, the drop off that fiscal cliff will happen on December 31, when taxes for middle class and wealthy Americans are set to go up.
On July 25, the Democratic-led Senate passed a bill, supported by the President, that extends tax breaks only for those earning up to $200,000 a year, and households making up to $250,000. Then on August 1, the Republican-led House voted to extend all tax breaks for another year.

"It's time to put the politics aside. I know we're in an election year but my goodness, raising taxes at this point in this economy is a very big mistake," House Speaker John Boehner said.

The votes in both Houses though were political and largely symbolic, with Democrats and Republicans putting their positions on the record before the upcoming elections.

Whether lawmakers can come together after the November elections and reach a deal on tax breaks is anyone's guess.

"We could see ourselves in a real confrontation at the end of this year and those tax cuts could expire," Austin Rep. Lloyd Doggett warned before leaving DC.

The bold positions taken earlier in the year make it that much more difficult to avoid plunging off that fiscal cliff. Congress must also figure out whether they can prevent $110 billion in scheduled spending cuts from taking place in January.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

Capital Commentary

We're about two weeks from the national party conventions, where the candidates will take to the grand stage in hopes of winning over undecided voters. And, a new national poll shows Mitt Romney has some ground to make up. A CNN/ORC poll released Thursday shows President Obama leading by 7 points, 52 to 45 percent. The poll also shows Romney's unfavorability rating on the rise, and a feeling that he favors rich Americans.
Obama, on the other hand, leads among independents, men, and women.

Our political experts weighed in on the week's headlines. You can watch our "Capital Commentary" with Harold Cook and the Quorum Report's Harvey Kronberg in the video below.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

The Campaign

While politicians in Texas, and across the country, are hard at work on the campaign trail, two of Hollywood's top funnymen are playing dueling Congressional candidates on the silver screen. Will Ferrell and Zach Galifianakis star in the "The Campaign,"which hits theaters, Friday. Our own Victor Diaz sad down with the stars on their recent trek through Texas, and got their take on Lone Star politics.

  To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

You can see more of Victor's interview with the stars here.