Tag: fiscal cliff

fiscal cliff
Thursday, November 15th 2012 - 06:38 UTC

“A modest tax increase on the wealthy is not going to break their backs” said Obama

Obama has long opposed extending the Bush-era tax cuts for earnings above 250.000 dollars a year

President Obama has reiterated his call for high earners in the US to pay more in taxes, in his first news conference since winning re-election. He called for quick legislation to rule out tax rises on the first 250.000 dollars of income, but refused to extend cuts for the wealthiest 2%.

Tuesday, November 13th 2012 - 23:00 UTC

US public opinion pessimistic about a political agreement on the ‘fiscal cliff’

Congressional leaders meet Friday to begin discussions with seven-week deadline

A majority of Americans expect the US to go over the fiscal cliff at the beginning of 2013 and would blame Republicans if that happened, according to a poll published Tuesday. On Friday Democrat and Republican congressional leaders are scheduled to begin discussions.

Saturday, November 10th 2012 - 05:08 UTC

Next week takes off the ‘fiscal cliff’’ battle with meeting in White House of party leaders

Boehner, leader of Republican-controlled House of Representatives has had a conciliatory attitude towards Obama since re-election

Newly re-elected President Barack Obama said on Friday the wealthy must pay more taxes under any political deal to avert a looming budget crisis. He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.

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