Republicans in Congress who took the politically risky step of voting to raise taxes now find themselves trying to fend off potential primary challenges next year from angry conservatives.
At midnight, not only did the ball drop in Times Square, ushering in a New Year, but Congress dropped the ball on delivering the country meaningful deficit reduction.
After decisions in Washington, D.C. many are asking – will the vote to avoid going over the fiscal cliff help North Texas companies? CBS 11 News spoke with one local business owner who said years of uncertainty have proven costly.
Congress didn’t completely fall off the “fiscal cliff,” but they’re still hanging onto the edge. By waiting until the last minute to scrape together a limited bill, Congress sidelined some major fiscal issues they initially sought to resolve before the new year.
Racing the clock, the White House reached a New Year’s Eve accord with Senate Republicans late Monday to block across-the-board tax increases and spending cuts in government programs due to take effect at midnight, according to administration and Senate Democratic officials.
For the past week, cars, pick-ups and SUV’s have lined up at Goodwill Industries donation sites. Some are loaded with clothes. Others carry large appliances and electronics.
If Congress manages to pass a feeble, last minute, deal on taxes it will be a deal that is long overdue. All of this could have been avoided.
Working against a midnight deadline, negotiators for the White House and congressional Republicans in Congress narrowed their differences Monday on legislation to avert across-the-board tax increases.
A Capitol Hill deal to avert the “fiscal cliff” was proving elusive Sunday as a deadline to avert tax hikes on virtually every American worker and block sweeping spending cuts set to strike the Pentagon and other federal agencies grew perilously near.
Despite the “Fiscal Cliff” impasse in Washington, Congress did get one item through in time to help more than a million-and-a-half North Texans.
With five days to go before Congress goes “off the fiscal cliff,” a Fort Worth financial advisor has suggestions on how North Texans can prepare for it.
As the nation teeters on the edge of the so-called “fiscal cliff,” President Obama returns to Washington Thursday to resume negotiations with Congress over a deal to keep taxes from going up on Americans.