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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.

Nov 13, 2012

Analysis: Businesses turn to tax fight, some stung by Romney bets

WASHINGTON (Reuters) – Major U.S. businesses are plunging into the Washington tax policy debate now that the elections are over and some are in an awkward position after betting heavily on Mitt Romney.

The Republican, who lost in last week’s presidential 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.

Nov 2, 2012

Factbox: Key elements of U.S. “fiscal cliff” post-elections

WASHINGTON (Reuters) – After the November 6 elections, Congress and the White House will face tough decisions on tax rates, tax breaks and budget cuts in a convergence of high-stakes deadlines that Federal Reserve Chairman Ben Bernanke dubbed a ‘massive fiscal cliff.’

The most urgent U.S. economic issue will be finding a way down from the ‘fiscal cliff’ without plunging the U.S. economy over the edge.