House Speaker John Boehner
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.”