Welcome, Guest! - or
Easy to remember!  »  VinNews.com

Washington - Deadline Passes For 'fiscal Cliff'

Published on: January 1, 2013 12:16 AM
By: AP
Change text size Text Size  
Bookmark and Share
US Vice President Joe Biden (C) speaks briefly with the media as he leaves a Democratic caucus to negotiate a fix to the so-called fiscal cliff in Washington, DC, USA, 31 December 2012. The Senate may still vote tonight on legislation, with the House following in the next few days.  EPA/JIM LO SCALZOUS Vice President Joe Biden (C) speaks briefly with the media as he leaves a Democratic caucus to negotiate a fix to the so-called fiscal cliff in Washington, DC, USA, 31 December 2012. The Senate may still vote tonight on legislation, with the House following in the next few days.  EPA/JIM LO SCALZO

Washington -  The “fiscal cliff” deadline has passed — technically, at least.

The beginning of the New Year in theory means across-the-board tax increases and spending cuts kick in, but Congress is working to cancel them before they can have an impact.

The White House and congressional leaders hope to send legislation to President Barack Obama within a day or two, meaning consumers shouldn’t notice any impact.

Advertisement:

The goal of the legislation is not only to protect consumers’ pocketbooks, but also to prevent the economy from the risk of another recession.


More of today's headlines

Washington - Legislation to negate a fiscal cliff of across-the-board tax increases and sweeping spending cuts to the Pentagon and other government agencies is headed to... New York - Ball touches down in New York City's Times Square, marking start of 2013. As the world rang in 2013 with spectacular fireworks displays and showers of...

 

Total0

Read Comments (0)  —  Post Yours »

1

Sign-in to post a comment

Scroll Up
Advertisements:

Sell your scrap gold and broken jewelry and earn hard cash sell gold today!