Washington Scrambles as Spending Cuts, Tax Hikes Loom

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.