John Boehner, Fiscal Cliff | featured news

Lawmakers say Congress probably could resolve the so-called "fiscal cliff" if Republican leaders let Democrats provide most of the votes....

Top U.S. lawmakers voiced rising fear on Sunday that the country would go over "the fiscal cliff" in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama's goal.

A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year.

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.

U.S. President Barack Obama and John Boehner, the top Republican in Washington, met at the White House on Monday to try to reach a budget deal that would head off steep tax hikes and spending cuts that could push the economy into recession next year.

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.

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.

Obama and Boehner hinted compromise is possible, in a bid to defuse tensions before talks next week to avert a fiscal crisis.

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.

House Speaker John Boehner emerged in the aftermath of Tuesday’s presidential election to strike a conciliatory note, offering to work with President Barack Obama on a grand bargain to avert the impact of the coming fiscal cliff.