USA

Washington Scrambles as Spending Cuts, Tax Hikes Loomi
|| 0:00:00
...    
🔇
X
Michael Bowman
November 12, 2012 2:33 PM
Unless the U.S. Congress acts by year’s end, federal taxes will rise for all income groups, and across-the-board spending cuts will go into effect. Economists say the combination of tax hikes and budget cuts -- commonly known as the fiscal cliff -- could send the U.S. economy back into recession. VOA’s Michael Bowman in Washington reports on efforts to forge a bipartisan solution that, so far, has eluded a politically-divided Congress.

Washington Scrambles as Spending Cuts, Tax Hikes Loom

Michael Bowman

Published November 12, 2012

Unless the U.S. Congress acts by year’s end, federal taxes will rise for all income groups, and across-the-board spending cuts will go into effect. Economists say the combination of tax hikes and budget cuts -- commonly known as the fiscal cliff -- could send the U.S. economy back into recession. VOA’s Michael Bowman in Washington reports on efforts to forge a bipartisan solution that, so far, has eluded a politically-divided Congress.


You May Like

India PM Modi's party distances itself from religious conversions

BJP under fire for being slow to rein in hardline affiliate groups allegedly trying to promote a Hindu-dominant agenda by luring Muslims and Christians to convert to Hinduism More

Anti-Whaling Group Found in Contempt of Court

Radical environmentalists who threw acid and smoke bombs at Japanese whalers in the waters off Antarctica continue their campaign to disrupt Japan's annual whale hunt More

UN's Ban Urges End to Discrimination Against Ebola Workers

Ban was speaking in Guinea on the second day of a whistle-stop tour aimed at thanking healthcare workers of the countries at the heart of the epidemic More