The Showdown: Washington Post, December 31, 2012

President Obama said Monday that an agreement to avoid the worst effects of the year-end fiscal cliff is “within sight,” but he stressed repeatedly that a deal being negotiated by Vice President Biden and Senate Minority Leader Mitch McConnell is “not done” yet, and he called on lawmakers to remain focused on the needs of the American people rather than politics. Under the proposed accord being hammered out by Biden and McConnell, households earning less than $450,000 would largely escape higher income tax bills, though couples earning more than $300,000 a year and individuals earning more than $250,000 would lose part of the value of their exemptions and itemized deductions, under the terms of the emerging agreement.

HEADLINES

  1. ‘Fiscal cliff’ deal is ‘within sight,’ Obama says
    Negotiators move closer to a deal to cancel historic tax hikes for most Americans, but remain hung up on spending cuts.
    » Read full article

  2. McConnell: We’re ‘very close’
    McConnell said he and Vice President Biden had spoken multiple times this morning since their first 6:30 a.m. call and had resolved their differences on taxes.
    » Read full article

  3. THE FIX: How Congress has already failed
    Whether or not lawmakers figure out a stop-gap, one lesson is crystal clear: Congress dropped the ball.
    » Read full article

  4. With or without deal, most Americans face tax increases
    With end of payroll tax holiday, 2013 bills will rise regardless of “cliff” resolution.
    » Read full article

  5. Pentagon: 800,000 civilian furloughs at stake if spending cuts go into effect
    The military’s service chiefs are now working to assess the impact of the congressionally mandated cuts if the White House and lawmakers fail to strike a last-minute deal.
    » Read full article

  6. WONKBLOG: Why Republicans think they’re winning
    Consider the ongoing “fiscal cliff” negotiations from the perspective of the Republican realists who knew, when they lost the election, that compromise was inevitable.
    » Read full article

  7. THE FIX: The ‘fiscal cliff’s’ Most Valuable Republicans
    GOPers who lost in November or are retiring play a very important role.
    » Read full article

  8. Republicans unhappy with Obama address
    “It’s unfortunate that he doesn’t spend as much time working on solving problems as he does with campaigns and pep rallies,” said Sen. Bob Corker (R-Tenn).
    » Read full article

FEATURED CONTENT

Interactive: What’s at stake if no agreement is reached?

Nearly all Americans would be affected by expiring tax provisions if Congress doesn’t avert the “fiscal cliff.” Here is an overview of some of the issues in play — and who could be most affected:

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2 Responses to The Showdown: Washington Post, December 31, 2012

  1. Bill says:

    the selfishness and greed still continues whether its congress/house/senate/darks all this could be taken care of with a push of a button so we are told and all these guy’s have done really is play a bunch of drama out instead of admitting they didn’t do their job in the first place by overseeing the corruption that they encouraged! Now we are subjected to more BS and promises.Some how its time to get rid of these losers and move on!!

  2. DavidG says:

    So the charade continues,

    it’s all about the money money money,
    Just wana make the world cry – while I make yer babies die,
    doo doo – a shing shing yeah c’mon evertbody..
    world cry, baby die yeah, clap your hands, sing along

    it’s all about the money money money
    I need your money money money
    wana make the world cry and your babies die

    Did I just sound crazy there?

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