Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Still time for fiscal cliff agreement, Obama says
President Barack Obama issued a stern summons to congressional leaders Friday to approve legislation before year's end to prevent tax increases on millions of middle class Americans and prevent an expiration of long-term unemployment benefits for the jobless. One day after House anti-tax rebels torpedoed Republican legislation because it would ...
Stocks sink after Republicans cancel budget vote
Stocks fell on Wall Street Friday after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before sweeping tax increases and government spending cuts take effect. The Dow Jones industrial average was down 130 points at 13,180 as of 11 a.m. ...
Boehner on averting fiscal cliff: 'God only knows'
House Speaker John Boehner signaled on Friday he's still open to negotiations with President Barack Obama on avoiding across-the-board tax increases set to hit taxpayers Jan. 1, but sounded pessimistic about reaching a grand deal with the president. "How we get there, God only knows," Boehner told a Capitol Hill ...
House GOP puts off vote on 'Plan B'
Confronted with a revolt among the rank and file, House Republicans abruptly scrapped a vote Thursday night on legislation allowing tax rates to rise for households earning $1 million and up, complicating attempts to avoid a year-end "fiscal cliff" that threatens to send the economy into recession. The legislation "did ...
House GOP plans vote on fiscal cliff 'Plan B'
The Republican-controlled House pushed ahead Thursday with a bill that would raise taxes on people earning over $1 million a year as hopes faded for a pre-Christmas deal between President Barack Obama and Speaker John Boehner to avert the so-called "fiscal cliff." But Senate Democratic leaders vowed to let the ...
Obama, Boehner clash as cliff edge approaches
iscal cliff talks at a partisan standoff, President Barack Obama and House Speaker John Boehner swapped barbed political charges on Wednesday yet carefully left room for further negotiations on an elusive deal to head off year-end tax increases and spending cuts that threaten the national economy. Republicans should "peel off ...
Obama to press for policy changes after shooting
President Barack Obama is launching an administration-wide effort to curb gun violence, underscoring the growing political consensus over tightening gun restrictions following the horrific massacre at a Connecticut elementary school. Obama is tasking Vice President Joe Biden, a longtime gun control advocate, with spearheading the effort. In remarks from ...
Dems signal Obama flexibility on spending in talks
Republican House Speaker John Boehner is offering to let taxes rise on wealthy Americans' investment income and dividends as part of a deal to avert the "fiscal cliff," officials said Monday amid signs that President Barack Obama is ready to make a key concession of his own in urgent, high-level ...
Night talks: Obama, Boehner meet on 'fiscal cliff'
Face to face with time running short, President Barack Obama and Republican House Speaker John Boehner negotiated at the White House on Thursday night in what aides called "frank" talks aimed at breaking a stubborn deadlock and steering the nation away from an economy-threatening "fiscal cliff." There was no sign ...
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. Their stalemate triggers sharp tax increases and spending cuts. Those measures shrink consumer spending, stifle job growth, topple stock prices and ...
No one retreating; cliff talks seem at standstill
A year-end deadline approaching, quiet negotiations to avoid an economy-rattling "fiscal cliff" yielded no tangible signs of progress on Monday. While Republicans pressed President Barack Obama to volunteer spending cuts he will support, the White House insisted the GOP endorse higher tax rates on upper incomes. At a campaign-style event ...
Obama asks Congress for $60.4B in Sandy aid
President Barack Obama asked Congress Friday for $60.4 billion in federal aid for New York, New Jersey and other states hit by Superstorm Sandy in late October. It's a disaster whose cost is rivaled only by the Sept. 11, 2001 terrorist attacks and the 2005 Hurricane that devastated New Orleans ...
Fiscal cliff threatens California's recovery, jobs
California's economic recovery could come to a halt if Congress and President Barack Obama are unable to avert the "fiscal cliff," business and government officials warned Friday. Robert Kleinhenz, chief economist at the Los Angeles County Economic Development Corp., said automatic spending cuts would represent a loss of $22.7 billion ...
Boehner: No progress in fiscal cliff talks
House Speaker John Boehner said Friday there has been no progress in negotiations to avert a "fiscal cliff" combination of automatic tax increases and spending cuts in January and called on President Barack Obama to produce a new offer. Four days after House Republicans offered a plan to raise tax ...
$2 billion price tag for presidential election
The 2012 presidential election broke the $2 billion milestone in its final weeks, becoming the most expensive in American political history, according to final federal finance reports released Thursday. The reports detailed a last-minute cascade of money from mega-donors and an onslaught of spending by the Obama and Romney campaigns ...
US economy adds 146K jobs, rate falls to 7.7 percent
The U.S. economy added 146,000 jobs in November and the jobless rate fell to 7.7 percent, the lowest since December 2008. The drop, however, was largely due to the fact that more Americans stopped looking for work and weren't counted as unemployed. The Labor Department's report Friday offered a mixed ...
Leading conservative DeMint resigning Senate seat
Sen. Jim DeMint, patron saint of the tea party and a would-be Republican kingmaker, announced suddenly Thursday he would resign his South Carolina seat to head Washington's conservative Heritage Foundation think tank, a shift that reverberated through a soul-searching GOP. Just two years into a second, six-year term, DeMint said ...
Pandora outlook for loss sparks sell-off
Internet radio company Pandora Media Inc. said Tuesday that its third-quarter net profit more than tripled to $2 million as revenue rose slightly faster than costs. But it predicted a loss in the fourth quarter, a bad surprise for investors who sent shares tumbling. CEO Joe Kennedy said in an ...
State lawmakers sworn into office, 2-year session
California lawmakers officially began their next two-year session Monday as they were sworn in to a newly reshaped Legislature in which Democrats hold powerful supermajorities in both houses. Lawmakers stood with family members on the floors of the state Senate and Assembly, breaking into applause, cheers and hugs after members ...
'Cliff' talks: White House waiting on GOP move
Republicans have to stop using "political math" and say how much they are willing to raise tax rates on the wealthiest 2 percent of Americans and then specify the spending cuts they want, Treasury Secretary Tim Geithner said in an interview that aired Sunday. Just four weeks from the proverbial ...
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