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Jan 1, 2013

Senate approves “fiscal cliff” deal, crisis eased

WASHINGTON (Reuters) – Washington’s last-minute scramble to step back from a recession-inducing “fiscal cliff” shifted to the Republican-controlled House of Representatives on Tuesday after the Senate approved a bipartisan deal to avoid steep tax hikes and spending cuts.

In a rare late-night show of unity, the Senate voted 89 to 8 to raise some taxes on the wealthy while keeping income taxes low on more moderate income voters.

Dec 31, 2012

U.S. Senate ‘fiscal cliff’ deal emerges, but not there yet

WASHINGTON (Reuters) – U.S. Senate leaders on Monday were very close to a deal to avert the “fiscal cliff” but the compromise was heavy on tax increases and light on spending cuts, making it uncertain if rank-and-file lawmakers would back it, particularly in the House of Representatives.

With only a few hours to go before a New Year’s Day deadline, President Barack Obama said agreement was within sight to prevent the worst of the fiscal crisis.”

Dec 31, 2012

Tentative ‘fiscal cliff’ deal emerges in U.S. Senate

WASHINGTON, Dec 31 (Reuters) – U.S. Senate leaders were
hammering out a last-minute deal to avoid the “fiscal cliff” on
Monday, but it was still unclear if rank-and-file lawmakers
would back the agreement, particularly those in the
Republican-led House of Representatives.

A deal to avert the fiscal crisis was said to be in the
works in the Senate that would raise tax rates on household
income above $450,000, said a source familiar with the talks.
The agreement would permanently extend the lower tax rates for
those below the $450,000 cut off. These lower tax rates have
been in place for all taxpayers since the Bush administration.

Dec 31, 2012

Fiscal deal stalls as clock ticks to deadline

WASHINGTON (Reuters) – Efforts to prevent the economy from tumbling over a “fiscal cliff” stalled on Sunday as Democrats and Republicans remained at loggerheads over a deal that would prevent taxes for all Americans from rising on New Year’s Day.

One hour before they had hoped to present a plan, Democratic and Republican Senate leaders said they were still unable to reach a compromise that would stop the automatic tax hikes and spending cuts that could push the U.S. economy back into recession.

Dec 30, 2012

With hours remaining, fiscal deal uncertain

WASHINGTON (Reuters) – The chances of a deal to prevent the economy from tumbling over a “fiscal cliff” remained uncertain on Sunday as lawmakers haggled over how to prevent taxes for all Americans from rising on New Year’s Day.

Aides to Senate Majority Leader Harry Reid, a Democrat, and Senate Republican leader Mitch McConnell worked on a compromise to stop automatic tax hikes for most Americans on January 1. Any agreement needs to be rushed through both chambers of Congress before midnight on Monday.

Dec 24, 2012

Lawmakers play waiting game with “fiscal cliff” deadline in sight

WASHINGTON (Reuters) – With only a week left before a deadline for the United States to go over a “fiscal cliff,” lawmakers played a waiting game on Monday in the hope that someone will produce a plan to avoid harsh budget cuts and higher taxes for most Americans from New Year’s Day.

Though Republicans and Democrats have spent the better part of a year describing a plunge off the cliff as a looming catastrophe, the nation’s capital showed no outward signs of worry, let alone impending calamity.

Dec 24, 2012

US lawmakers play waiting game with ‘fiscal cliff’ deadline in sight

WASHINGTON, Dec 24 (Reuters) – With only a week left before
a deadline for the United States to go over a “fiscal cliff,”
lawmakers played a waiting game on Monday in the hope that
someone will produce a plan to avoid harsh budget cuts and
higher taxes for most Americans from New Year’s Day.

Though Republicans and Democrats have spent the better part
of a year describing a plunge off the cliff as a looming
catastrophe, the nation’s capital showed no outward signs of
worry, let alone impending calamity.

Dec 23, 2012

Fear, finger-pointing mount over U.S. fiscal cliff

WASHINGTON (Reuters) – Top U.S. lawmakers voiced rising fear on Sunday that the country would go over “the fiscal cliff” in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama’s goal.

“It’s the first time that I feel it’s more likely that we will go over the cliff than not,” Senator Joe Lieberman, an independent from Connecticut, said on CNN’s “State of the Union.”

Dec 22, 2012

The sinking of ‘Plan B’; the US ‘fiscal cliff’ disaster of John Boehner

WASHINGTON, Dec 22 (Reuters) – Had there been a vote on
Republican House Speaker John Boehner’s “Plan B” to avert the
so-called U.S. fiscal cliff on Thursday night, it would not have
been close. He was probably 40 to 50 votes short of the number
he needed to avoid a humiliating defeat at the hands of his own
party, according to rough estimates from Republican members of
Congress and staff members.

It was not for lack of effort. Boehner and his two top
deputies, Eric Cantor and Kevin McCarthy, along with other House
Republican leaders, tried for three days to muster support for
the measure, which would have cut government spending and raised
taxes on millionaires to head off across-the-board tax hikes and
spending cuts set for January.

Dec 22, 2012

The sinking of “Plan B”; the U.S. “fiscal cliff” disaster of John Boehner

WASHINGTON (Reuters) – Had there been a vote on Republican House Speaker John Boehner’s “Plan B” to avert the so-called U.S. fiscal cliff on Thursday night, it would not have been close. He was probably 40 to 50 votes short of the number he needed to avoid a humiliating defeat at the hands of his own party, according to rough estimates from Republican members of Congress and staff members.

It was not for lack of effort. Boehner and his two top deputies, Eric Cantor and Kevin McCarthy, along with other House Republican leaders, tried for three days to muster support for the measure, which would have cut government spending and raised taxes on millionaires to head off across-the-board tax hikes and spending cuts set for January.

    • About Thomas

      "Thomas Ferraro joined Reuters in 1998; he has helped cover a number of presidential campaigns and is a veteran of Capitol Hill where he has seen Democratic and Republican majorities rise and fall. He has also covered a number of Supreme Court confirmation battles, including those of four nominees now on the highest U.S. court."
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