Kevin's Feed
Dec 4, 2012

“Fiscal cliff” struggle prompts Republican infighting

By Kevin Drawbaugh

(Reuters) – Republicans in the Congress attacked each other on Tuesday over their leadership’s “fiscal cliff” offer to Democratic President Barack Obama as a group of governors visited the White House to voice concern about the impact on the states of the year-end tax-and-spending deadline.

The disarray in Republican ranks over how far to compromise the party’s anti-tax stance could complicate what are expected to be intense negotiations between House Speaker John Boehner and Obama. Each will need the backing of their respective troops in Congress in order to bargain credibly.

Dec 3, 2012

Timeline – America’s long stumble toward the “fiscal cliff”

WASHINGTON (Reuters) – The long, bumpy road to America’s “fiscal cliff” has been travelled over many years by Congress and a series of U.S. presidents, including Barack Obama.

Some of the steps along the way had good intentions. Some had no intention other than to avoid hard decisions.

Dec 3, 2012

Factbox – Key elements of U.S. “fiscal cliff”

WASHINGTON (Reuters) – Negotiations on the looming “fiscal cliff” will dominate talk in Washington this month, with both the White House and congressional Republicans having made early offers.

Failure to find a compromise on urgent spending and tax issues that charts a safe path down from the cliff could result in another recession, economic studies have forecast.

Dec 3, 2012

Key elements of U.S. ‘fiscal cliff’

WASHINGTON (Reuters) – Negotiations on the looming “fiscal cliff” will dominate talk in Washington this month, with both the White House and congressional Republicans having made early offers.

Failure to find a compromise on urgent spending and tax issues that charts a safe path down from the cliff could result in another recession, economic studies have forecast.

Dec 3, 2012

America’s long stumble toward the ‘fiscal cliff’

WASHINGTON, Dec 3 (Reuters) – The long, bumpy road to
America’s “fiscal cliff” has been traveled over many years by
Congress and a series of U.S. presidents, including Barack
Obama.

Some of the steps along the way had good intentions. Some
had no intention other than to avoid hard decisions.

Nov 16, 2012

Top U.S. House tax writer vows tax reform in 2013

WASHINGTON (Reuters) – The House of Representatives’ top Republican tax writer on Thursday pledged to tackle a full-scale overhaul of the tax code in 2013, but offered few specifics on how to get it done.

Republican Dave Camp said in the text of a dinner speech that the House Ways and Means Committee, which he chairs, “will write, act on and pass comprehensive tax reform legislation in 2013.”

Nov 14, 2012

Rivals dig in as “fiscal cliff” drama debuts

WASHINGTON (Reuters) – Both sides in the U.S. “fiscal cliff” debate stood their ground on Tuesday as they gathered in Washington for the first time since the elections, with a fundamental tax dispute preventing a broader compromise on deficit reduction.

The White House made clear it was ready to negotiate with Republicans on taxes and spending, but a spokesman for Democratic President Barack Obama said he will not budge on insisting that the wealthy’s tax rates must rise in 2013.

Nov 14, 2012

Rivals dig in as U.S. ‘fiscal cliff’ drama debuts

WASHINGTON, Nov 13 (Reuters) – Both sides in the U.S.
“fiscal cliff” debate stood their ground on Tuesday as they
gathered in Washington for the first time since the elections,
with a fundamental tax dispute preventing a broader compromise
on deficit reduction.

The White House made clear it was ready to negotiate with
Republicans on taxes and spending, but a spokesman for
Democratic President Barack Obama said he will not budge on
insisting that the wealthy’s tax rates must rise in 2013.

Nov 13, 2012

Curtain rises on Washington’s “fiscal cliff” drama

WASHINGTON (Reuters) – The full cast of lawmakers in the U.S. “fiscal cliff” debate gathered in Washington on Tuesday for the first time since the elections, setting the stage for a week of trial balloons and rhetorical repositioning.

The U.S. Congress returned from a break after the November 6 elections, with Senate Republican Leader Mitch McConnell and Democratic House of Representatives Leader Nancy Pelosi set to meet with rookie lawmakers from their respective parties.

Nov 13, 2012

Businesses turn to tax fight, some stung by Romney bets

WASHINGTON, Nov 13 (Reuters) – As major U.S. businesses dive
into the Washington tax policy debate now that the presidential
election is over, some are finding themselves in an awkward
position after betting heavily on Mitt Romney.

The Republican, who lost in last week’s vote, was backed
overwhelmingly not only by Wall Street, but also by the oil and
gas, agribusiness, construction, private equity and
transportation sectors, according to data from the Center for
Responsive Politics.