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Obama: Republicans blocking middle-class tax cuts

President Barack Obama said Saturday that Republicans in the House are blocking a bill that would prevent a tax increase on the first $250,000 of income earned by all Americans.

 

Consumer confidence plunges in early December

Americans' outlook on the economy and their finances took a turn for the worse in early December due likely to anxiety about the potential for higher taxes resulting from contentious discussions in Washington over fiscal issues, a survey released on Friday showed.

 

"Fiscal cliff" talks down to Obama and Republican Boehner

With about three weeks left before the "fiscal cliff" deadline, the task of avoiding the steep tax hikes and spending cuts was down to talks between Republican House Speaker John A. Boehner and President Barack Obama, according to Capitol Hill aides.

 

Republicans weigh swallowing tax hike on the wealthy

While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1.

 

"Fiscal cliff" struggle prompts Republican infighting

Fiscal Cliff

Republicans in the Congress attacked each other on Tuesday over their leadership's "fiscal cliff" offer to Democratic President Barack Obama as a group of governors visited the White House to voice concern about the impact on the states of the year-end tax-and-spending deadline.

 

White House spurns Republican offer on 'fiscal cliff' negotiations

The White House on Monday dismissed a Republican counteroffer to avert the so-called fiscal cliff as failing to “meet the test of balance” by resisting higher tax rates for the wealthy, a point that remains a key hurdle in the impasse over spending and revenues.

 

'Cliff' talks: Geithner invites GOP counteroffer

Timothy Geithner

President Obama is ready for difficult concessions to reach a deficit deal, but GOP lawmakers must first commit to higher tax rates on the rich and specify what additional spending cuts they want in a deal to avoid the looming "fiscal cliff," Treasury Secretary Timothy Geithner said.

 

House and Senate sit on tax bills the other passed

Barack Obama

It may not sound like it from the rhetoric, but both the House and Senate have passed separate bills to delay big tax increases awaiting nearly every taxpayer next year if Congress and the White House can't agree on a plan to avert the "fiscal cliff."...

 

No "substantive" progress made on fiscal cliff: Boehner

House Speaker John Boehner said on Thursday that no substantive progress has been made to avoid the "fiscal cliff" of spending cuts and tax hikes that will start to go into effect early next year if Washington does not act.

 

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.

 

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