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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.

Dec 21, 2012

Boehner says Congress, Obama must keep seeking ‘fiscal cliff’ deal

WASHINGTON, Dec 21 (Reuters) – House of Representatives
Speaker John Boehner said on Friday congressional leaders and
President Barack Obama must try to move on from Republicans’
failed tax plan and work together to avert the looming U.S.
“fiscal cliff.”

Boehner, the top Republican in Congress, was unrepentant at
a Capitol Hill news conference the day after the stunning
failure of his “Plan B” option, a development that raised doubts
about his own leadership and left negotiations in disarray.

Dec 21, 2012

Way forward on US ‘cliff’ uncertain after Republican plan fails

WASHINGTON, Dec 21 (Reuters) – The task of picking up the
pieces of the “fiscal cliff” talks – and reassuring global
markets that were shaky early Friday – is likely to fall largely
to President Barack Obama after the rebuke Thursday to his chief
Republican negotiating partner, House Speaker John Boehner.

Boehner could not muster enough support from his fellow
Republicans, a majority in the U.S. House of Representatives, to
pass his bill called “Plan B” that he had hoped to use to
pressure Obama in talks to avert the steep tax hikes and
spending cuts slated to start taking effect in just eleven days.

Dec 21, 2012

US Republicans push own ‘fiscal cliff’ plan; talks frozen

WASHINGTON, Dec 20 (Reuters) – Republicans in the U.S.
Congress pushed ahead on Thursday with a “fiscal cliff” plan
that stands no chance of becoming law as time runs short to
reach a deal with President Barack Obama to avert a possible
Washington-induced recession.

The Republican-led House of Representatives was due to vote
on raising income-tax rates on the wealthiest sliver of the
population, a move that breaks with decades of anti-tax
orthodoxy by the party.

    • 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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