A big package of tax cuts first enacted a decade ago are set to expire at the end the year, unless Congress and the White House reach a deal to extend them. How the looming tax increases would affect households at different income levels
WASHINGTON - Hopes dimming for a wide-ranging bargain, the White House and many congressional Republicans are setting their sights on a more modest deal that would extend current tax rates for most Americans, raise rates for top earners and leave other, vexing issues for the new year
WASHINGTON - House Democratic Leader Nancy Pelosi says a deal must be reached 'in the next couple of days or the very beginning of next week' to avoid the fiscal cliff of automatic tax hikes and spending cuts
WASHINGTON - Despite an intensifying pace, little progress is being reported in talks on averting automatic spending cuts and tax increases that economists fear could send the U.S. economy off a 'fiscal cliff'
WASHINGTON - House Speaker John Boehner said Friday there has been no progress in negotiations to avert a "fiscal cliff" combination of automatic tax increases and spending cuts in January and called on President Barack Obama to produce a new offer