Thursday late Politico reported that negotiations to resolve the nation’s fiscal crisis came to a virtual standstill as congressional leaders and the White House dug deeper into their partisan positions, from tax hikes to spending cuts. The back-and-forth exchanges underscored how the November election results have failed to clarify how...
After Treasury Secretary Tim Geithner’s individual meetings yesterday with congressional leaders in the so-called “fiscal cliff” negotiations, Republicans leaked to reporters, per NBC's Luke Russert, what the Obama White House is offering: 1) $1.6 trillion in tax increases and revenues, 2) a permanent end to Congress’ control of the debt...
(French for “done deal”) Taxes are going up for people making north of $250,000 — and most likely, tax rates, too. So what does the final tax hike look like? That will take a while to hash out, but those involved guess it will include a rate hike, higher taxes...
Democrats involved in the process said the chest-pounding by liberals is just that — they know they will ultimately cave and trim entitlements to get a deal done. “A lot of the big entitlement savings comes in the 10-20 year budget window, not the next 10 years,” a Democratic aide...
Representative Tom Cole, (R-OK) told the Republican leadership’s team (and the world) that the party should give in and pass legislation extending expiring Bush-era tax cuts for the 98% of all households earning $250,000 or less. Only then, he said, should Republicans take up the fight over what to do...
We’ve heard about the tax increases. We’ve heard about the spending cuts. But expiring emergency aid for the long-term unemployed is also part of the fiscal cliff, and analysts have started to sound the alarm. At the end of December, more than two million workers will lose federal unemployment insurance...
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