Pelosi, Reid Sign Off on Fiscal Cliff Deal

Monday, 31 Dec 2012 09:57 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, Obama administration officials said on Monday.

President Barack Obama called Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi, who both signed off on the deal, one source said.

The agreement includes a balance of spending cuts and revenue increases to pay for the delay in the automatic spending cuts that would go into effect without a deal by lawmakers.

Of those spending cuts, 50 percent would come from defense and 50 percent from non-defense areas, the sources said. The White House viewed that as a victory, one source said, and sees it as a model for future deficit reduction pacts.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Feds Arrest More Than 200 in Border Smuggling Crackdown

Tuesday, 22 Jul 2014 22:48 PM

Federal officials have made almost 200 arrests and seized more than $625,000 in illicit profits in a month-long crackdow . . .

Federal Courts Deliver Conflicting Rulings on Obamacare

Tuesday, 22 Jul 2014 13:54 PM

Two federal judicial panels on Tuesday delivered conflicting rulings on how the government subsidizes premiums through P . . .

Appeals Court in Va. Upholds Health Care Subsidies

Tuesday, 22 Jul 2014 13:12 PM

A federal appeals court in Virginia has upheld tax subsidies for low- and middle-income people who buy insurance under t . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved