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Dec 30, 2012

Senate leaders work to avoid New Year’s “fiscal cliff”

WASHINGTON (Reuters) – Congressional negotiators burrowed into their offices on Saturday to see if they could stop the U.S. economy from falling off of a “fiscal cliff” in just three days when the biggest tax increases ever to hit Americans in one shot are scheduled to begin.

Aides to Senate Majority Leader Harry Reid, a Democrat, and Senate Republican leader Mitch McConnell worked through the day on a possible compromise that would set aside $600 billion in tax increases and across-the-board government spending cuts that are set to kick in next week.

Dec 29, 2012

U.S. Senate leaders work to avoid New Year’s ‘fiscal cliff’

WASHINGTON, Dec 29 (Reuters) – Congressional negotiators
burrowed into their Capitol offices on Saturday to see if they
can stop the U.S. economy from falling off of a “fiscal cliff”
in just three days when the biggest tax increases ever to hit
Americans in one shot are scheduled to begin.

Aides to Senate Majority Leader Harry Reid, a Democrat, and
Senate Republican leader Mitch McConnell were expected to work
through the day on a possible compromise that would set aside
$600 billion in tax increases and across-the-board government
spending cuts that are set to kick in next week.

Dec 29, 2012

Analysis: For Senate leaders, a mission impossible from Obama

WASHINGTON (Reuters) – Following a Friday meeting with congressional leaders, an impatient and annoyed President Barack Obama said it was “mind boggling” that Congress has been unable to fix a “fiscal cliff” mess that everyone has known about for more than a year.

He then dispatched Senate Majority Leader Harry Reid, a Democrat, and Minority Leader Mitch McConnell, a Republican, on a mind-boggling mission: coming up with a bipartisan bill to break the “fiscal cliff” stalemate in the most partisan and gridlocked U.S. Congress of modern times – in about 48 hours.

Dec 29, 2012

For Senate leaders, a mission impossible from Obama

WASHINGTON, Dec 29 (Reuters) – Following a Friday meeting
with congressional leaders, an impatient and annoyed President
Barack Obama said it was “mind boggling” that Congress has been
unable to fix a “fiscal cliff” mess that everyone has known
about for more than a year.

He then dispatched Senate Majority Leader Harry Reid, a
Democrat, and Minority Leader Mitch McConnell, a Republican, on
a mind-boggling mission: coming up with a bipartisan bill to
break the “fiscal cliff” stalemate in the most partisan and
gridlocked U.S. Congress of modern times – in about 48 hours.

Dec 28, 2012

Senate leaders to make last-ditch ‘fiscal cliff’ effort

WASHINGTON, Dec 28 (Reuters) – President Barack Obama and
congressional leaders agreed on Friday to make a final effort to
prevent the United States from going over the “fiscal cliff,”
setting off intense bargaining over Americans’ tax rates as a
New Year deadline looms.

The focus now turns to the Senate, where Harry Reid, the
Democratic majority leader, and Mitch McConnell, who heads the
Republican minority, will try to come up with a deal that can
then be approved in the Republican-controlled House of
Representatives before the end of the year.

Dec 28, 2012

Expectations low for White House ‘fiscal cliff’ meeting

WASHINGTON, Dec 28 (Reuters) – President Barack Obama and
congressional leaders were to meet on Friday for the first time
since November, with no sign of progress in resolving their
differences over the U.S. federal budget and expectations low
for a “fiscal cliff” deal before Jan. 1.

Instead, members of Congress are increasingly looking at the
period immediately after the Dec. 31 deadline to come up with a
retroactive fix to avoid steep tax hikes and sharp spending cuts
that economists have said could plunge the country into another
recession.

Dec 28, 2012

House Republicans say resigned to tax hike in fiscal cliff

WASHINGTON (Reuters) – Republicans in the U.S. House of Representatives are resigned to seeing some sort of income tax increase in legislation to avoid a “fiscal cliff,” but such efforts could be doomed in the absence of spending cuts, some Republican lawmakers say.

Congress and President Barack Obama are gearing up for a last-ditch attempt to avoid $600 billion in tax increases and spending cuts that could halt progress in the U.S. economy, which lately has been showing signs of gaining ground.

Dec 28, 2012

U.S. lawmakers, Obama in last chance talks on ‘fiscal cliff’

WASHINGTON, Dec 27 (Reuters) – President Barack Obama and
lawmakers are launching a last chance round of budget talks just
days before a New Year’s deadline to
reach a deal or watch the economy go off a “fiscal cliff.”

Obama will meet congressional leaders from both parties at
the White House on Friday to try to revive negotiations to avoid
tax hikes and spending cuts – together worth $600 billion – that
will begin to take effect on Jan.1 .

Dec 28, 2012

Lawmakers set up 11th-hour bid on “fiscal cliff”

WASHINGTON (Reuters) – Lawmakers on Thursday gave themselves a last chance to prevent the United States from plunging off a “fiscal cliff” by setting up a late session in Congress a day before taxes are due to rise for most working Americans.

Republican leaders in the House of Representatives told their members to be back in Washington from the Christmas holiday break on Sunday in case they need to vote on budget measures.

Dec 27, 2012

U.S. lawmakers set up 11th-hour bid on ‘fiscal cliff’

WASHINGTON, Dec 27 (Reuters) – Lawmakers on Thursday gave
themselves a last chance to prevent the United States from
plunging off a “fiscal cliff” by setting up a late session in
Congress a day before taxes are due to rise for most working
Americans.

Republican leaders in the House of Representatives told
their members to be back in Washington from the Christmas
holiday break on Sunday in case they need to vote on budget
measures.

    • About Richard

      "I have been a Washington correspondent for Reuters since 2001. I have written about climate change and the environment, the U.S. Congress, politics, economic issues and agricultural trade disputes."
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