Fiscal Cliff | featured news

US economy grew at 2.7 percent rate in summer

The U.S. economy grew at a 2.7 percent annual rate from July through September, much faster than first thought. The strength may fade in the final months of the year if Congress and the Obama administration fail to reach a budget deal.

 

Boehner rejects call to pass tax cuts now 

John Boehner

House Speaker John Boehner, the man at the center of negotiations with President Obama, today rejected Oklahoma Rep. Tom Cole’s suggestion to pass an extension of tax cuts for 98 percent of people, declare victory, and go home.

 

Obama says debt-cutting deal can be reached soon

President Barack Obama said Wednesday he believes that members of both parties can reach a "framework" on a debt-cutting deal before Christmas, making his case with a mix of optimism and pressure on congressional Republicans to keep tax rates from rising on the middle class.

 

Poll says 6 in 10 Americans back tax hike on income over $250,000

Six in 10 Americans support a tax increase on annual income of more than $250,000, according to a nationwide poll released Wednesday.

 

'Fiscal cliff' talks delay Geithner departure

Tim Geithner may soon leave the Treasury Department, but he is helping lead the "fiscal cliff" negotiations.

 

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.

 

Warren Buffett calls for a minimum tax on the wealthy

Warren Buffett, the legendary investor who changed the debate about U.S. tax reform in 2011 with a call for the rich to pay more, is now calling for minimum tax rates for millionaires.

 

States Want to Have Say During Talks Over Budget

Jack Markell

As many states continue recovering from the recession, governors say they fear that talks to avert the so-called fiscal cliff will actually lead to deep cuts.

 

Bernanke warns Congress to avoid 'fiscal cliff'

Federal Reserve Chairman Ben Bernanke on Tuesday urged Congress and the Obama administration to strike a budget deal to avert tax increases and spending cuts that could trigger a recession next year.

 

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