U.S. Attorney General Eric Holder said on Tuesday he had ordered the FBI to open a criminal probe in a growing scandal over the Internal Revenue Service's targeting of conservative political groups.» Read More
Aides to Senate Majority Leader Harry Reid, a Democrat, and Senate Republican leader Mitch McConnell worked on a compromise over the weekend to stop automatic tax hikes for most Americans on Jan. 1. Any agreement needs to be rushed through both chambers of Congress before midnight on Monday.
WASHINGTON, Dec 29- Congressional negotiators burrowed into their offices on Saturday to see if they could stop the U.S. economy from falling off of a "fiscal cliff" in just three days when the biggest tax increases ever to hit Americans in one shot are scheduled to begin.
Congressional negotiators burrowed into their Capitol offices on Saturday to see if they can stop the U.S. economy from falling off of a "fiscal cliff" in just three days when the biggest tax increases ever to hit Americans in one shot are scheduled to begin.
An annoyed President Obama said it was "mind boggling" that Congress has been unable to fix the "fiscal cliff." Then dispatched Senate Majority Leader Harry Reid, a Democrat, and Minority Leader Mitch McConnell, a Republican, on a mind-boggling mission: coming up with a bipartisan bill to break the stalemate - in about 48 hours.
WASHINGTON, Dec 29- Following a Friday meeting with congressional leaders, an impatient and annoyed President Barack Obama said it was "mind boggling" that Congress has been unable to fix a "fiscal cliff" mess that everyone has known about for more than a year.
It may take the form of Senate amendments to a bill that originated in and has already passed the House of Representatives. SUNDAY: If they succeed, Reid and McConnell will present the bill to the full Senate for a vote and if it passes, send it to the House.
WASHINGTON, Dec 28- President Barack Obama and congressional leaders agreed on Friday to make a final effort to prevent the United States from going over the "fiscal cliff," setting off intense bargaining over Americans' tax rates as a New Year deadline looms.
*White House meeting ends, no public comments. None of the participants made statements to the media immediately after the summit at the White House ended.
WASHINGTON, Dec 28- President Barack Obama was not planning to make a new offer to avert the tax increases and spending cuts that loom on Jan. 1 at a White House meeting with congressional leaders on Friday, a source familiar with the meeting said. Obama believes his plan would pass with a majority in both the House of Representatives and the Senate, the source said.
WASHINGTON, Dec 28- President Barack Obama and congressional leaders were set to meet on Friday for the first time since November with no sign of progress in resolving their differences over the federal budget and low expectations for a "fiscal cliff" deal before Jan. 1.
Congress and President Barack Obama are gearing up for a last-ditch attempt to avoid $600 billion in tax increases and spending cuts that could halt progress in the U.S. economy, which lately has been showing signs of gaining ground.
*Obama to meet congressional leaders at White House. *House of Representatives convenes Sunday on fiscal crisis. "Hopefully, there is still time for an agreement of some kind that saves the taxpayers from a wholly, wholly preventable economic crisis," Mitch McConnell, the top Republican in the Democratic-controlled Senate, said on the Senate floor.
WASHINGTON, Dec 27- President Barack Obama will host a meeting on Friday with the four top congressional leaders, a White House aide said on Thursday, as the president and lawmakers rush to break a deadlock over the so-called fiscal cliff days before a year-end deadline.
*House of Representatives to meet Sunday on fiscal crisis. WASHINGTON, Dec 27- Lawmakers on Thursday gave themselves a last chance to prevent the United States from plunging off a "fiscal cliff" by setting up a late session in Congress a day before taxes are due to rise for most working Americans.
WASHINGTON, Dec 27- The outcome of the "fiscal cliff" debate will be decided in four days, with just a handful of powerful leaders in Washington calling the shots, for better or for worse. *Barack Obama, Democratic president: Reelected last month, the former Democratic U.S. senator from Illinois campaigned on the need to raise taxes on high-income Americans.
WASHINGTON, Dec 27- Lawmakers on Thursday gave themselves a last chance to prevent the United States from plunging off a "fiscal cliff" by setting up a late session in Congress just about a day before taxes are due to rise for most working Americans.
WASHINGTON, Dec 27- The top Republican in the U.S. Senate, Mitch McConnell, on Thursday said that there is still time to avert the "fiscal cliff" and a "wholly preventable economic crisis."
On the Senate floor, Minority Leader Mitch McConnell says Republicans will listen to anything President Obama proposes, but they won't approve any "blank checks" to get a deal on the "fiscal cliff."
Reid made his comments in a Senate floor speech at the opening of a post-Christmas session, adding that time was running out ahead of a Dec. 31 deadline to act to avert the "fiscal cliff."
In a sign that there may be a way through deadlock in Congress, Republican House of Representatives Speaker John Boehner urged the Democrat-controlled Senate to act to pull back from the cliff and offered to at least consider any bill the upper chamber produced.