Spending Cuts, Tax Hikes | featured news

NBC/WSJ poll: Two-thirds support balanced deficit deal

First Read: As the Obama White House and Congress negotiate to avoid the so-called fiscal cliff, nearly two-thirds of Americans say they favor a balanced deal, consisting of both higher tax rates and cuts key entitlement programs.

 

House GOP press Obama for balanced fiscal deal

House Republican leaders are pressing President Barack Obama to come up with plan they can accept for spending cuts and tax revenue to avoid the so-called "fiscal cliff" of automatic tax hikes and budget reductions.

 

GOP throws Obama's old deficit stands back at him

Some of the best Republican arguments against President Barack Obama's proposals to avoid a "fiscal cliff" come from the president himself, in comments he made months or years before his re-election. Stung by the GOP's midterm election gains in 2010, Obama took stands that differ from his current positions on raising tax rates, adjusting Social Security and other topics now dominating Washington as a Dec. 31 deadline nears.

 

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.

 

"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."...

 

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