Fiscal Cliff

Three New 'Cliffs' Threaten The Economy

Marilyn Geewax — Thu, 10 Jan 2013 17:47:00 +0000

Maybe you were hoping you'd never hear the phrase "fiscal cliff" again after Congress passed legislation Jan. 1 to address that tax-break-expiration deadline.

Sorry.

Three more cliff-type deadlines are fast approaching. They involve: 1) raising the federal debt ceiling 2) modifying automatic, across-the-board spending cuts and 3) funding the government to avert a shutdown.

The deadlines all hit between Valentine's Day and Easter, which means new rounds of chaotic congressional negotiations may start up just after the Jan.

After The Fiscal Cliff, Businesses Say Some Uncertainty Remains

John Ydstie — Tue, 08 Jan 2013 23:43:00 +0000

Businesses complained that the uncertainty surrounding the "fiscal cliff" froze their decisions about hiring and expanding, which hurt the economy. Washington has now managed half a deal, which settles tax issues, at least for the time being. But has that removed enough uncertainty to boost some business hiring and investment?

Vickers Engineering in New Troy, Mich., makes parts for auto companies, agriculture equipment manufacturers and the oil and gas industry.

Bargain Over Fiscal Cliff Brings Changes To Health Care

Julie Rovner — Fri, 04 Jan 2013 08:30:00 +0000

The bill that prevented the nation from plunging over the fiscal cliff did more than just stop income tax increases and delay across-the-board spending cuts. It also included several provisions that tweaked Medicare and brought bigger changes to other health care programs.

The health care change that got the most attention saved doctors who treat Medicare patients from a cut in their pay.

Was Boehner's Fiscal Cliff End Run Past GOP The New Normal?

Frank James — Thu, 03 Jan 2013 11:45:00 +0000

By letting the House take up the Senate's fiscal cliff-dodging legislation that raises income tax rates on the wealthiest earners, Speaker John Boehner answered affirmatively a question that had been on many minds: Would he allow an up-or-down floor vote on a bill opposed by most fellow House Republicans?

Until the New Year's Day vote, Boehner had generally operated the House under what was known as the Hastert Rule.

Financial Markets Cheer 'Fiscal Cliff' News

Mark Memmott — Wed, 02 Jan 2013 16:18:00 +0000

Though more big battles lie ahead in Washington, Wall Street is following the lead of financial markets around the world in giving a thumbs-up to the deal that kept the federal government from going completely over the so-called fiscal cliff.

It's Not Over: Big Battles Ahead Even After 'Fiscal Cliff' Deal

Mark Memmott — Wed, 02 Jan 2013 12:30:00 +0000

We're sorry to start the first work day of 2013 on a negative note, but here goes:

Though the House voted 257-167 late Tuesday to OK legislation that kept the federal government from going over the so-called fiscal cliff — and stopped income taxes from rising for about 99 percent of Americans — lawmakers didn't reach agreement on other very divisive issues.

Which means, Majority Leader Harry Reid said the Senate will go back in session at 11 a.m. ET Monday.

Obama 'Modestly Optimistic' On Cliff Deal; 'He Won,' Says Graham

Melisa Goh — Sun, 30 Dec 2012 15:58:00 +0000

President Obama went on the air to levy pressure on Congress Sunday as Senate leaders worked to negotiate a deal to avert the tax hikes and spending cuts known as the "fiscal cliff."

"I was modestly optimistic yesterday, but we don't yet see an agreement," Obama said in an interview with NBC's Meet the Press taped on Saturday.

Little Hope, Low Expectations, Lots Of Gloom: 'Fiscal Cliff' Talk Is Dreary

Mark Memmott — Fri, 28 Dec 2012 14:34:00 +0000

Yes, President Obama and congressional leaders are scheduled to meet at 3 p.m.

Brownback Hopeful For Wind Energy Tax Credit Extension

Stephen Koranda — Thu, 27 Dec 2012 10:38:00 +0000

A wind energy tax credit is set to expire at the end of this year, but Kansas Governor Sam Brownback is still holding out hope that lawmakers in Washington will extend the credit.