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“Fiscal Cliff” Closer As Negotiations Continue

By on December 29, 2012

THE SO-CALLED “FISCAL CLIFF” OF HIGHER TAX RATES AND SPENDING CUTS IS ONE DAY CLOSER… BUT NEGOTIATIONS CONTINUE AS CONGRESS AND PRESIDENT OBAMA TRY TO REACH A DEAL TO AVOID THE “CLIFF”…

 

 

SOME IN THE U.S. SENATE ARE CURRENTLY TRYING TO WORK ON A DEAL THAT WOULD BE ABLE TO PASS THAT BODY… THE U.S. HOUSE… AND GARNER THE SIGNATURE OF THE PRESIDENT…

 

HOWEVER, IF THE SENATE CAN’T GET A DEAL DONE THIS WEEKEND, OBAMA SAYS HE’LL CALL ON CONGRESS TO PASS A “BASIC DEAL”… ONE WHICH WOULD EXTEND TAX RATES ON MOST AMERICANS AND AVOID SOME OF THE SPENDING CUTS THAT ARE CURRENTLY PART OF THE “CLIFF”… HOWEVER, IT IS UNCLEAR IF THAT “BASIC DEAL” WOULD BE ABLE TO PASS THE REPUBLICAN-LED HOUSE.