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House GOP plans vote on fiscal cliff 'Plan B'

John Boehner

The GOP-controlled House is moving ahead Thursday on a bill that would raise taxes on people earning over $1 million a year, sparing most workers from a tax hike but leaving in place painful budget cuts to the military and domestic agencies as "fiscal cliff" talks appear stalled.


Boehner's 'Plan B' immediately encounters opposition

House Speaker John A. Boehner’s "Plan B" on the budget talks, bringing to a vote his proposal to extend expiring tax breaks for all but those Americans who earn more than $1 million a year, ran almost immediately into stiff resistance Tuesday.


John Boehner has placed tax increases for the wealthy on the table

John Boehner and Barack Obama

Politico is reporting that one of its sources claims John Boehner has placed tax increases for the wealthy on the table. He has been adamant that Republicans would never agree to a tax increase for anyone. President Obama has said that there would be no agreement to end the chance of falling over the “fiscal cliff”, without increasing taxes on the wealthiest 2 percent.


Obama to appeal to public on fiscal cliff

President Barack Obama plans to make a public case this week for his strategy for dealing with the looming fiscal cliff, traveling to the Philadelphia suburbs Friday as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less....


Republicans soften stance on anti-tax pledge

Saxby Chambliss

Some Republicans appear to be softening what was once a hard stance on their no-taxes pledge as the end-of-the-year deadline on the so-called “fiscal cliff” approaches. But it’s not clear how far they would go – if they would raise rates on the wealthiest, as President Obama wants, or if they are simply willing to go along with eliminating some loopholes and deductions to raise revenue. And those who have been outspoken on the topic thus far are not seen as the key players in the ongoing negotiations.


Democrats stiffen spine against trimming benefits

President Barack Obama's re-election has stiffened Democrats' spine against cutting popular benefit programs such as Medicare and Social Security. Their new resolve could become as big a hurdle to a deal that would skirt crippling tax increases and spending cuts in January as Republicans' resistance to raising tax rates on the wealthy.


Two-part 'fiscal cliff' deal taking shape

Fiscal Cliff

The outline of a compromise over upcoming federal tax hikes and spending cuts began to come into focus Friday after President Obama convened congressional leaders at the White House.


Relaxed yet feisty, Obama lays out second-term agenda

...In his first full-scale news conference since March, Obama said he was willing to compromise with Republicans to forge a deal on the nation's debt and taxes to avoid the "fiscal cliff," a combination of budget cuts and tax increases that will kick in next year if such an agreement is not reached.


Obama pressing business and labor on fiscal cliff

Barack Obama

President Barack Obama is lobbying business and labor groups to support his plan to avoid an impending fiscal cliff, telling the two sides he remains committed to requiring the wealthy to pay more in taxes.


Analysis: Americans to face tougher 2013 on rising prices, taxes


Consumers will have to dig deeper into their pockets next year to pay for costlier healthcare, more expensive grocery bills and higher taxes, an extra drag on the country's already slow-moving economy.

Senh: This is a pessimistic view. Lately, most of the economic reports have been positive. Unemployment is at a 4.5 year low, consumer sentiment at a five year high, housing market is rebounding, and consumer debt is at pre-recession levels.


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