Fiscal Cliff

(CNN) — The bill that backs the United States away from its fiscal cliff awaited President Barack Obama’s signature Wednesday, but new battles over taxes and spending await Washington in the next few weeks. Congress averted that self-built precipice late Tuesday when the House voted to stave off widespread tax increases and deep spending cuts […]

WASHINGTON — A high-stakes, multi-layered game of chicken is underway in the Capitol, as House Republicans grapple with how to handle a fiscal cliff bill sent their way by an overwhelming bipartisan vote, even while it’s wildly unpopular within their conference. A vote that had been scheduled on the bill immediately to follow a conference-wide […]

WASHINGTON — Three hours of shy of the midnight deadline, the White House and Congressional leaders reached a deal to avert the so-called fiscal cliff, several sources confirmed to The Huffington Post. Under the deal brokered by Vice President Joe Biden and Senate Minority Leader Mitch McConnell (R-Ky.), the package would extend the Bush tax […]

WASHINGTON — The United States government will miss the end of the year deadline to resolve the so-called fiscal cliff, House Republicans conceded on Monday afternoon. The House of Representatives will adjourn December 31 without voting on a bill to delay the impending tax hikes and spending cuts that will take start to take place […]

WASHINGTON — With hours remaining to avert the so-called fiscal cliff, President Barack Obama said a deal is “within sight” and urged lawmakers to come together to avert automatic tax hikes and spending cuts that kick in on Tuesday. But his midday press conference, with a group of middle-class Americans looking on, was not without […]

WASHINGTON — The preliminary fiscal cliff deal being negotiated by Senate Minority Leader Mitch McConnell (R-Ky.) and Vice President Joe Biden would achieve up to $790 billion in revenue over the next decade. Some of that money would be offset by extensions of tax credits and other stimulative policy, leaving roughly $715 billion in debt […]

WASHINGTON — Senate Majority Leader Harry Reid accused the House of Representatives Thursday of being a “dictatorship” — albeit an extremely poor one. Reid (D-Nev.) took to the Senate floor to declare his frustration with the other chamber as the deadline to deal with the so-called fiscal cliff rapidly approaches. Reid argued that House Speaker […]

President Barack Obama announced on Friday he is still “ready and willing” to get a package done to avert the fiscal cliff, the latest development in an ongoing battle to reach an agreement to avert the fiscal cliff before the new year. “As of today I am still ready and willing to get a comprehensive […]

CLEVELAND, OH (WOIO) – With the fiscal cliff looming dozens are protesting possible cuts to Social Security, Medicare, and Medicaid here in Cleveland. A small group of protestors gathered at the free stamp to put the pressure on Washington. “The cuts are going to hurt the middle class families and we don’t need to see them,” […]

WASHINGTON — Dire headlines about the ongoing “fiscal cliff” debate might give the impression that the country is destined for a harrowing economic jolt. But buried in the stories and slightly visible behind the public posturing, signs are emerging that a deal is possible. House Republican leaders on Monday presented a plan to the White […]