News Alert: White House, Senate leaders reach deal on taxes, delaying 'sequester' cuts

Breaking News from The Washington Post
White House, Senate leaders reach deal on taxes, delaying 'sequester' cuts
The Washington Post Monday, December 31, 2012 9:00:16 PM

National News Alert

Advertisement

White House, Senate leaders reach deal on taxes, delaying 'sequester' cuts

President Obama and Senate Republicans reached a sweeping deal late Monday that would let income taxes rise significantly for the first time in more than 20 years, fulfilling Obama's promise to raise taxes on the rich and averting the worst effects of the "fiscal cliff."

According to Democratic aides, Vice President Biden is on his way to the Capitol to explain the details of the pact he negotiated with Minority Leader Mitch McConnell, and a Senate vote on the package could be held by 10:30 p.m. ET, beating a midnight deadline. White House officials gave in on the last issue, how to handle estate taxes, yielding to GOP wishes, aides said.

The House will begin considering the bill tomorrow, with a vote on final passage in the next day or two.

Read more at:
http://www.washingtonpost.com/business/fiscal-cliff/biden-mcconnell-continue-cliff-talks-as-clock-winds-down/2012/12/31/66c044e2-534d-11e2-8b9e-dd8773594efc_story.html







Advertisement
johnmhames1.lightofdiogenes@blogger.com

Comments

Popular posts from this blog

FOLLOW THE MONEY - Billionaire tied to Epstein scandal funneled large donations to Ramaswamy & Democrats

Breaking: Left-Wing Black History Children’s Book Distributed by Simon & Schuster Is Heavily Plagiarized

Pence goes full swamp on Donald Trump.