New tax law packed with breaks for businesses
Tucked into the “fiscal cliff” tax package approved by Congress are billions of dollars in tax breaks that should make the new year a lot happier for businesses of many stripes, including film producers, race track owners and the makers of electric motorcycles.
Steady US hiring expected in December despite cliff
U.S. employers likely kept hiring last month at a modest but steady pace, despite tense negotiations that pushed the economy to the brink of the fiscal cliff.
Congress reaches deal on fiscal cliff
Past its own New Year’s deadline, a weary Congress sent President Barack Obama legislation to avoid a national “fiscal cliff” of middle class tax increases and spending cuts late Tuesday night in the culmination of a struggle that strained America’s divided government to the limit.
Senate holds last-minute fiscal cliff talks
Senate leaders groped for a last-minute compromise Saturday to avoid middle-class tax increases and possibly prevent deep spending cuts at the dawn of the new year as President Barack Obama warned that failure could mean a “self-inflicted wound to the economy.”
Miss. schools could face cuts from fiscal cliff
Mississippi schools could lose about $53.9 million in federal education money, according to a report released by the National Education Association, if Congress doesn’t stop a package of budget cuts scheduled to take place Jan. 2.
White House meeting a last stab at a fiscal deal
Amid partisan bluster, top members of Congress and President Barack Obama were holding out slim hopes for a limited fiscal deal before the new year. But even as congressional leaders prepared to convene at the White House, there were no signs that legislation palatable to both sides was taking shape.
Lawmakers see ‘fiscal cliff’ deal as elusive
With anxiety rising as the country lurches towards a “fiscal cliff,” lawmakers are increasingly skeptical about a possible deal and some predict the best possibility would be a small-scale patch because time is running out before the year-end deadline.
House recesses with no fiscal cliff solution
President Barack Obama says he’ll press ahead with Congress in hopes of preventing across-the-board tax increases set to strike taxpayers Jan. 1 after House GOP leaders unexpectedly put off a vote on legislation calling for higher rates on million-dollar earners Thursday evening.
Obama backs off hard lines in search of compromise
Narrowing a “fiscal cliff” negotiating gap, President Barack Obama is backing off what had once been ironclad positions.
Military families worried by fiscal cliff
Emerging from more than a decade at war, military families are confronting a new worry at home: the prospect that a deal between Congress and the White House over federal spending cuts could chip away at military health insurance, pensions and other services long considered untouchable.
‘Cliff’ crash may clear way for deal in January
To get to “yes” on a “fiscal cliff” accord, Congress and the White House first might have to get to “no.”
US economy could withstand brief fall off ‘cliff’
It’s the scenario that’s been spooking employers and investors and slowing the U.S. economy: Congress and the White House fail to strike a budget deal by New Year’s Day.
Fiscal cliff talks appear to be stalled
Despite an intensifying pace, little progress is being reported in talks on averting automatic spending cuts and tax increases that economists fear could send the U.S. economy off a “fiscal cliff.”
Obama, Boehner discuss ‘fiscal cliff’ stalemate
President Barack Obama and House Speaker John Boehner met at the White House to discuss the “fiscal cliff,” while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate.
Fiscal cliff offers hint at more defense cuts
House Republicans’ “fiscal cliff” counteroffer to President Barack Obama hints at billions of dollars in military cuts on top of the nearly $500 billion that the White House and Congress backed last year, and even the fiercest defense hawks acknowledge that the Pentagon faces another financial hit.
GOP issues a new ‘fiscal cliff’ offer to Obama
House Republicans put forth a $2.2 trillion “fiscal cliff” counteroffer to President Barack Obama on Monday, calling for raising the eligibility age for Medicare, lowering cost-of-living hikes for Social Security benefits and bringing in $800 billion in higher tax revenue — but not raising rates for the wealthy.
White House, Congress talk as ‘fiscal cliff’ nears
Amid increasing anxiety that the White House and top Republicans are wasting time as the government slides toward an economy-rattling “fiscal cliff,” administration officials are heading to Capitol Hill for talks with congressional leaders.
A big disconnect as ‘fiscal cliff’ clock ticks
Republicans’ newfound willingness to consider tax increases to avert the “fiscal cliff” comes with a significant caveat: larger cuts than Democrats seem willing to consider to benefit programs like Medicare, Medicaid and the president’s health care overhaul.
Approaching fiscal cliff: Tax them, not us, groups say
A big coalition of business groups says there must be give-and-take in the negotiations to avoid the “fiscal cliff” of massive tax increases and spending cuts. But raising tax rates — a White House priority — is out of the question, the group adds.
Most in US won’t be able to escape ‘fiscal cliff’
Everyone who pays income tax — and some who don’t –will feel it.