America’s long stumble toward the ‘fiscal cliff’
WASHINGTON, Dec 27 (Reuters) – The long, bumpy road to
America’s “fiscal cliff” on Dec. 31 has been traveled over many
years by Congress and a series of U.S. presidents, including
Democrat Barack Obama.
Some of the steps taken along the way had good intentions;
some had no intention other than to put off hard decisions,
while ideological divisions on fiscal policy steadily hardened.
Factbox: “Fiscal cliff” tax, budget provisions in detail
WASHINGTON (Reuters) – The “fiscal cliff” is only days away and efforts to avert it are making little progress, with some U.S. lawmakers predicting the tax increases and federal spending cuts involved will start taking hold in January, unless a deal comes together very quickly.
If these jolts to the economy are allowed to occur, a recession could follow, economists have forecast.
Factbox: Corporate tax breaks in play at “cliff” and beyond
(Reuters) – The White House and the U.S. Congress are sizing up a range of corporate tax breaks as part of the “fiscal cliff” debate and a possible comprehensive revamping of the tax code next year.
No major changes are likely before January 1, when a host of sharp tax increases and federal spending cuts will begin to take effect unless lawmakers move quickly to avoid the “fiscal cliff,” according to Capitol Hill aides and lobbyists.
Corporate tax breaks in play at U.S. ‘cliff’ and beyond
Dec 27 (Reuters) – The White House and the U.S. Congress are
sizing up a range of corporate tax breaks as part of the “fiscal
cliff” debate and a possible comprehensive revamping of the tax
code next year.
No major changes are likely before Jan. 1, when a host of
sharp tax increases and federal spending cuts will begin to take
effect unless lawmakers move quickly to avoid the “fiscal
cliff,” according to Capitol Hill aides and lobbyists.
Factbox – Corporate tax breaks in play at U.S. “cliff” and beyond
(Reuters) – The White House and the U.S. Congress are sizing up a range of corporate tax breaks as part of the “fiscal cliff” debate and a possible comprehensive revamping of the tax code next year.
No major changes are likely before January 1, when a host of sharp tax increases and federal spending cuts start to take effect unless lawmakers move to avert the so-called “fiscal cliff,” according to Capitol Hill aides and lobbyists.
Corporate tax breaks in play at U.S. ‘cliff’ and beyond
Dec 12 (Reuters) – The White House and the U.S. Congress are
sizing up a range of corporate tax breaks as part of the “fiscal
cliff” debate and a possible comprehensive revamping of the tax
code next year.
No major changes are likely before Jan. 1, when a host of
sharp tax increases and federal spending cuts start to take
effect unless lawmakers move to avert the so-called “fiscal
cliff,” according to Capitol Hill aides and lobbyists.
“Fiscal cliff” struggle prompts Republican infighting
(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.
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.
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.
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.
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