fiscal cliff – News Stories About fiscal cliff - Page 2

House Won't Vote Before Midnight on 'Cliff' Deal

Dec 31, 2012 3:33 PM CST

House GOP: We're Going Over the 'Cliff'

Republicans say they'll vote on other bills tonight

(Newser) - An agreement to avoid the sharp tax hikes and spending cuts known as the fiscal cliff won't be reached before the midnight deadline, lawmakers in the Republican-controlled House of Representatives said today; however, the Senate continued talks to reach a deal. House Republicans notified lawmakers that the chamber will...

McConnell:
We've Agreed
'on All Tax
Issues'

Dec 31, 2012 2:30 PM CST

McConnell: We've Agreed 'on All Tax Issues'

GOP senator calls for passage of 'tax relief portion now'

(Newser) - Hours away from the fiscal cliff deadline, GOP Sen. Mitch McConnell said on the Senate floor today that "we've reached an agreement on all of the tax issues." He added that negotiators are "very, very close" to striking a deal and said he agreed with President...

Hasn't the
GOP Already
Won Here?

opinion

Dec 31, 2012 1:53 PM CST

Hasn't the GOP Already Won Here?

Republicans can declare victory on fiscal cliff talks: Gerald Seib

(Newser) - Republicans have been too busy fretting over their concessions on the fiscal cliff to stop and do one thing: declare victory, writes Gerald Seib at the Wall Street Journal . Headlines over top-tier tax rates have obscured the fact that at least 98% of Bush tax cuts will remain—a major...

Obama: Cliff Deal Is 'in Sight'

Dec 31, 2012 1:22 PM CST

Obama: Cliff Deal Is 'in Sight'

Urges public to keep pressure on, says Congress will go down to wire

(Newser) - President Obama gave a strange, freewheeling speech/press conference today to update the nation on the state of fiscal cliff talks. "Today, it appears that an agreement to prevent this New Year's tax hike is within sight," Obama said. "But it's not done." He said...

Harkin Calls
on Democrats
to Block
Cliff Deal

Dec 31, 2012 11:30 AM CST

Harkin Calls on Democrats to Block Cliff Deal

Hoyer also balks as GOP starts calling it 'inconsequential'

(Newser) - Rank-and-file Republicans aren't the only ones who could deep-six a fiscal cliff compromise. Tom Harkin today called on Democrats to reject the deal, furious over President Obama's apparent willingness to up his tax threshold to $450,000. "They think Republicans may object? We may object," the...

There's Hope:
'Major Progress'
on Fiscal Cliff

Dec 31, 2012 7:58 AM CST

There's Hope: 'Major Progress' on Fiscal Cliff

But sticking points exist after flurry of overnight negotiations

(Newser) - So just where are we on the fiscal cliff? After Mitch McConnell and Harry Reid hit an impasse yesterday , McConnell called in Joe Biden, and after a flurry of offers that included President Obama and went throughout the night, Politico finds "major progress" and reason for hope this morning....

World Markets Drop as Fiscal Cliff Nears

World Markets Drop
as US Teeters
on Fiscal Cliff

Dec 31, 2012 4:55 AM CST

World Markets Drop as US Teeters on Fiscal Cliff

Investors alarmed by failure to reach deal

(Newser) - Can American lawmakers hammer out a deal in time to avoid the fiscal cliff and toast the New Year? Investors worldwide are betting no. Uncertainty about budget negotiations and the future of the US economy drove down Asian markets on the last day of the year and European markets also...

Cliff Talks
Hit 'Major
Setback' at
11th Hour

Dec 30, 2012 2:15 PM CST

Cliff Talks Hit 'Major Setback' at 11th Hour

Democrats reject 'chained CPI' in GOP offer

(Newser) - With the fiscal cliff in sight, Democrats and Republicans are no longer talking. Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell reached a "major setback" today over a fairly wonky provision known as "chained CPI," Democratic sources tell Politico . A means of calculating entitlement benefits,...

Graham:
'Hats Off to
the President'

TALK SHOW ROUNDUP

Dec 30, 2012 9:39 AM CST

Graham: 'Hats Off to the President'

Says Obama stuck to his guns, will get tax hike on rich

(Newser) - President Obama wasn't the only show on the Sunday dial today : On the eve of the fiscal cliff, Lindsey Graham was upbeat about the chances of a deal, telling Fox News they were "exceedingly good." "Hats off to the president," said Graham, according to Politico...

Obama to
House GOP:
Pressure's On

'MEET THE PRESS' INTERVIEW

Dec 30, 2012 8:29 AM CST

Obama to House GOP: Pressure's On

Prez talks fiscal cliff, gun control in rare 'Meet the Press' interview

(Newser) - President Obama left his minions at home and did the talking himself this morning on Meet the Press , blasting House Republicans' insistence on keeping tax breaks for the rich as the main obstacle to reaching a deal to avert the fiscal cliff. "They say that their biggest priority is...

Your Paycheck
Will Be Smaller
Next Week

Dec 29, 2012 12:04 PM CST

Your Paycheck Will Be Smaller Next Week

It's all but certain that payroll tax cut will expire Monday

(Newser) - No matter what does or doesn't happen with this weekend's fiscal cliff negotiations , most Americans are going to see a smaller paycheck next week, reports the Wall Street Journal . That's because neither party is still talking about extending the 2-year-old payroll tax cut, which expires on Monday,...

Obama: Take
My Plan,
or Offer
Alternative

Dec 28, 2012 5:00 PM CST

Obama: Take My Plan, or Offer Alternative

President will push for up-or-down vote on his plan if all fails

(Newser) - The big powwow between President Obama and leaders of Congress has wrapped up with, surprise, surprise, no magical breakthrough on the fiscal cliff. But with four days to go before the deadline, there's apparently still hope. The New York Times , Politico , the Washington Post , and the Hill have similar...

Obama to
Host Meeting
as Cliff Looms

UPDATED

Dec 28, 2012 7:41 AM CST

Obama to Host Meeting as Cliff Looms

House is set to reconvene on Sunday night, ahead of cliff deadline

(Newser) - Let the last-minute drama begin: President Obama will meet with the top congressional leaders from both parties at the White House today, reports the AP . Obama intends to outline elements that he thinks should be in any deal and could garner majority support in both chambers of Congress, but he...

Reid: House
'Watching Movies'
as We Go
Over Cliff

Dec 27, 2012 12:07 PM CST

Reid: House 'Watching Movies' as We Go Over Cliff

Accuses Boehner of running House like a 'dictatorship'

(Newser) - It "looks like" America is headed over the fiscal cliff, and if it does, Harry Reid is placing the blame squarely on House Republicans "who are out watching movies," reports Politico . Speaking on the Senate floor this morning, Reid excoriated John Boehner for not simply bringing the...

'Come Together'?
Try 'Get It Together'

OPINION

Dec 27, 2012 10:26 AM CST

'Come Together'? Try 'Get It Together'

Howard Schultz needs a better message for his cups to fix Washington

(Newser) - Yesterday Starbucks CEO Howard Schultz announced his DC-area stores would write "Come together" on coffee cups, to pressure lawmakers to come to a fiscal cliff agreement. Well, Jonathan Cohn shares his frustration—but he's really frustrated with people like Schultz who think Washington's dysfunction is the fault...

Boehner to
Senate: You
Figure It Out

Fiscal Cliff

Dec 27, 2012 7:40 AM CST

Boehner to Senate: You Figure It Out

Plunging over the cliff looks increasingly likely

(Newser) - Legislators in Washington don't look terribly motivated to avoid fiscal calamity. There were precious few signs of progress in fiscal cliff negotiations yesterday, with both sides mainly making political statements blaming each other. Here's the latest:

John Boehner, unable to pass even his own "Plan B,"

...

Geithner: US Will
Reach Debt
Ceiling on
Monday

Dec 26, 2012 5:40 PM CST

Geithner: US Will Reach Debt Ceiling on Monday

Treasury secretary prepares 'emergency measures'

(Newser) - The federal government will hit the debt ceiling on Monday, Timothy Geithner informed Congress today—so he's readying "emergency measures" to keep Washington from borrowing beyond its limit. Those measures will create roughly $200 billion in breathing room for the feds to operate, which would typically cover two...

Starbucks to
DC: 'Come Together,'
Via Our Cups

Dec 26, 2012 9:08 AM CST

Starbucks to DC: 'Come Together,' Via Our Cups

Bipartisan message on every cup for 3 days

(Newser) - Starbucks thinks it has the key to the fiscal cliff, and it is caffeinated: But instead of withholding DC lawmakers' joe until they forge a deal, the coffee company is making them drink out of cups labeled "Come Together" until Friday, reports Politico . “It’s a small gesture,...

Obama Will
Return to DC
Early Over
Fiscal Cliff

Dec 26, 2012 7:46 AM CST

Obama Will Return to DC Early Over Fiscal Cliff

President cutting short vacation as public pessimism mounts

(Newser) - The Christmas break has turned into Cliffmas for President Obama, who is cutting short his vacation in Hawaii to return to DC for a final attempt to strike a budget deal before the Jan. 1 fiscal cliff, the Washington Post reports. Obama will leave for Washington tonight after four days...

Not Very Merry:
Holiday Spending
Was Scrooge-Like

Dec 26, 2012 6:45 AM CST

Not Very Merry: Holiday Spending Was Scrooge-Like

Shoppers eying fiscal cliff, storms sat on their wallets

(Newser) - With Christmas officially in the rearview, the first snapshot of holiday spending is rolling in and the picture isn't too pretty: In the two months leading up to Christmas, sales of popular gift items like electronics and apparel grew only .7%—a measly increase well below analysts' expectation of...