Speaker Boehner to Address Fiscal Cliff

Wednesday, 07 Nov 2012 10:24 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
With the re-election of President Barack Obama and House Speaker John Boehner, R-Ohio, now secure, the focus in Washington turns to the looming fiscal cliff.

Boehner is wasting no time in getting down to business. Boehner’s office said the speaker will issue a statement Wednesday afternoon “on the fiscal cliff and the need for both parties to find common ground and take steps together to help our economy grow and create jobs, which is critical to solving our debt,” The Washington Post reported.

The term fiscal cliff is Washington shorthand for an array of budget cuts and tax policies set to take effect in January.

They include about $100 billion in automatic cuts to the military and federal agencies that were adopted by Congress last year as part of a plan to reduce record budget deficits.

It also includes about $400 billion in tax hikes, caused primarily by the expiration of a temporary payroll tax cut and other tax breaks adopted during the George W. Bush administration.

© 2014 Newsmax. 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:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rand Paul Tries to Peel Away Isolationist Label

Thursday, 23 Oct 2014 14:42 PM

Sen. Rand Paul is taking on critics who brand him an isolationist on foreign policy, advocating an approach for America  . . .

USAID Accused of Doctoring Audits Before Releasing Them

Thursday, 23 Oct 2014 14:28 PM

On several occasions, officials at the United States Agency for International Development have removed or altered critic . . .

US Hospitals Consider Withholding Care to Ebola Patients

Thursday, 23 Oct 2014 13:08 PM

The Ebola crisis is forcing the American healthcare system to consider the previously unthinkable: withholding some medi . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

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