House Speaker John Boehner
Tax doomsday is looming, but it’s still a political standoff in D.C., with one side seemingly waiting for the other to act. While the Senate is already in session, the House will not be back before Sunday.
President Barack Obama was to return to Washington on Thursday after cutting short his Christmas vacation in Hawaii. The Senate will be in session. But so far the House of Representatives has no plans to meet.
There were signs Tuesday that a deal to avoid the so-called “fiscal cliff” may be in the offing. President Barack Obama blinked on tax hikes and so did House Speaker John Boehner.
The fact is it won’t be a merry Christmas if there is no deal on the so-called fiscal cliff, because without a compromise tax hikes and across-the-board spending cuts kick in.
For tens of thousands of people in the Tri-State Area, the “fiscal cliff” debate is more than just a Washington political battle. Many in the middle class here are wondering how they’ll make ends meet if their taxes go up on New Year’s Day.
As the so-called “fiscal cliff” gets closer, there is still no agreement on taxes and budget cuts in Washington. No deal means everybody’s taxes will go up in a little less than three weeks.
New Jersey residents would be the hardest hit in the nation, with the average family of four paying an extra $6,933. That same family in Connecticut would ante up an extra $6,653 and in New York, $4,103.
Even as the country barrels toward the fiscal cliff, there was much confusion about what exactly lies ahead – both for regular people and the country as a whole.
Will it be four more years of partisanship or will both sides find a path to compromise? And will the Republican party see the outcome of campaign 2012 as a mandate to “re-image” itself?
Republican leadership talks about budget cuts. They talk about families hurting and making tough decisions. But when they come to Washington they protect their own budgets.
Cardinal-designate Timothy Dolan came to the South Bronx to bless a library, but he had no blessings — just harsh words — for President Barack Obama, who wants Catholic institutions to pay for birth control.
After months of bickering, congressional leaders have reached a compromise to prevent higher payroll taxes for 160 million Americans.
“It’s really going to hurt because two of my kids are in college and of course $1,000, $2,000 can really help in paying tuition,” said Antonio Meloni of Astoria.
President Barack Obama said a last-minute deal Friday with congressional leaders to avert a government shutdown happened because “Americans of different beliefs came together.”