Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Fiscal cliff deal forged in flurry of final talks
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 bill's passage on a ...
House gives final passage to fiscal cliff bill
Legislation to block the "fiscal cliff" is headed to the White House for President Barack Obama's signature. The bill will avoid, for now, the major tax increases and government spending cuts that had been scheduled to take effect with the new year. Final approval came in the House on New ...
Cliff avoided: Congress staves off tax hikes
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 bill's passage on a ...
Not solved yet: GOP wants more cliff spending cuts
Emergency legislation to avoid the economy-threatening fiscal cliff ran into vehement New Year's Day opposition from House Republicans, casting doubt on the divided government's ability to prevent widespread tax increases and painful, across-the-board federal spending cuts. "I do not support the bill. We are looking, though, for the best path ...
Bill to avert fiscal cliff heads to House
Legislation to negate a fiscal cliff of across-the-board tax increases and sweeping spending cuts to the Pentagon and other government agencies is headed to the GOP-dominated House after bipartisan, middle-of-the-night approval in the Senate capped a New Year's Eve drama unlike any other in the annals of Congress. The measure ...
Obama says fiscal cliff deal close, not done
Agonizingly close to a New Year's Eve compromise, the White House and congressional Republicans agreed Monday to block across-the-board tax increases set for midnight, but held up a final deal as they haggled away the final hours of 2012 in a dispute over spending cuts. "It appears that an agreement ...
AP Sources: 'Fiscal cliff' deal emerging
Working with Congress against a midnight deadline, President Barack Obama said Monday that a deal to avert the "fiscal cliff" was in sight but not yet finalized. The emerging deal would raise tax rates on family income over $450,000 and individual income over $400,000 a year, increase the estate tax ...
Progress seen in last-minute 'fiscal cliff' talks
Working against a midnight deadline, negotiators for the White House and congressional Republicans narrowed their differences Monday on legislation to avert across-the-board tax increases. Congressional officials familiar with talks between Vice President Joe Biden and Senate Republican leader Mitch McConnell said one major remaining sticking point was whether to postpone ...
Fiscal 'cliff' deal proving elusive
A Capitol Hill deal to avert the "fiscal cliff" was proving elusive Sunday as a deadline to avert tax hikes on virtually every American worker and block sweeping spending cuts set to strike the Pentagon and other federal agencies grew perilously near. Senate Majority Leader Harry Reid, D-Nev., and Senate ...
Senate leaders offer dour take on 'cliff' talks
The top Senate negotiators on the effort to prevent the government from going over the "fiscal cliff" offered a pessimistic assessment Sunday barely 24 hours before a deadline to avert tax hikes on virtually every worker. Senate Republican leader Mitch McConnell said he's yet to receive a response to an ...
All eyes on them, Senate leaders seek fiscal deal
Senate leaders rushed to assemble a last-ditch agreement to avoid middle-class tax increases and possibly delay steep spending cuts in an urgent attempt to find common ground after weeks of postelection gridlock. An impatient President Barack Obama pressed top lawmakers to cut a deal, even one that falls short of ...
Fewer US banks failing as industry strengthens
U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers. As the economy heals from the worst financial ...
Obama says immediate action needed on fiscal cliff
President Barack Obama says "the hour for immediate action is here" on a deal to avert the fiscal cliff. The president says he remains "optimistic" that an agreement can be reached in Congress before a looming year-end deadline to avoid tax increases and spending cuts. If Congress can't reach a ...
Stocks tumble as 'fiscal cliff' deadline nears
Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline. The five-day losing streak for the Dow Jones industrial average was the longest since July. The Dow dropped 158.20 points to 12,938.11 points, with losses accelerating in ...
White House meeting a last stab at a fiscal deal
The end game at hand, the White House and Senate leaders took a final stab at compromise Friday night to prevent middle-class tax increases from taking effect at the turn of the new year and possibly prevent sweeping spending cuts as well. "I'm optimistic we may still be able to ...
US consumer confidence falls on fiscal cliff fears
U.S. consumer confidence tumbled in December, driven lower by fears of sharp tax increases and government spending cuts set to take effect next week. The Conference Board said Thursday that its consumer confidence index fell this month to 65.1, down from 71.5 in November. That's the second straight decline and ...
No deal in sight as deadline for fiscal deal nears
Progress toward avoiding the "fiscal cliff" seemed stalled Thursday, as the Senate's top Democrat accused Republican House Speaker John Boehner of acting in dictatorial ways that prevent a solution to looming tax hikes and spending cuts. Senate Majority Leader Harry Reid, speaking in the Senate chamber, said the nation appears ...
State may lose 'No Child Left Behind' waiver bid
Federal education officials were poised to reject California's self-styled bid to avoid the strict requirements of the No Child Left Behind law Wednesday, as widely anticipated. State Superintendent of Public Instruction Tom Torlakson said U.S. Department of Education officials informed him last week that they were prepared to deny the ...
Starbucks cups to come with a political message
Starbucks is using its coffee cups to jump into the political fray in Washington. The world's biggest coffee chain is asking employees at cafes in the Washington, D.C., area to scribble the words "Come Together" on cups for drink orders on Thursday and Friday. CEO Howard Schultz says the words ...
State jobless rate dips below 10 percent
After a long twilight, business is booming again at Matt Construction as high-end orders come in for hotels and office complexes. The Los Angeles-area company increased hiring by about 20 percent this year, adding 30 employees as more construction jobs -- and bigger ones -- piled up. Such stories are ...
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