The nation’s sharp disagreements over taxes and spending are on a re-routed collision course, as Senate Democrats launch a plan that includes new taxes and House Republicans vow to speed up their plan to balance the federal budget with spending cuts alone.
The Internal Revenue Service says late changes to federal tax laws should mean only a short delay for most taxpayers to file their 2012 returns.
Republicans in Congress who took the politically risky step of voting to raise taxes now find themselves trying to fend off potential primary challenges next year from angry conservatives.
A patchwork extension of federal farm programs passed as part of a larger “fiscal cliff” bill keeps the price of milk from rising but doesn’t include many of the goodies that farm-state lawmakers are used to getting for their rural districts.
President Barack Obama is hailing a last-minute deal that avoids the so-called fiscal cliff but says it’s just one step in a broader effort to boost the economy and shrink federal deficits.
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.
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.
Quite frankly, I expected better from Gregg Harper and Steven Palazzo, two of the three Mississippi Republicans in the U.S. House of Representatives.
Both Harper and Palazzo voted against the Tuesday legislation that prevented the fiscal cliff disaster from becoming a reality.
That the third Republican, the one who represents Lowndes County, voted no on the bill was as predictable as a two-year-old pitching a fit at the supermarket until he gets candy.
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.
The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling of milk prices next month.