The number of Americans filing new claims for unemployment benefits fell more than expected last week pointing to a healthy labor market.» Read More
Despite its well-publicized cutoff at incomes of $400,000 and up, the fiscal cliff deal could increase taxes on people making less.
U.S. House Speaker John Boehner made a U-turn on Wednesday to clear the way for approval of $60 billion in Superstorm Sandy relief by mid-January after drawing withering fire from fellow Republicans, including New Jersey Governor Chris Christie, for canceling an earlier vote.
U.S. executives largely panned the congressional deal to steer America away from the "fiscal cliff," saying Washington wasted an opportunity to address the nation's debt.
An emergency deal reached after weeks of rancorous negotiations will keep the U.S. from driving off the "fiscal cliff," but higher taxes and continued political bickering in Washington threaten to shake the fragile economy well into 2013.
The "fiscal cliff" deal will help millions of Americans avoid paying the dreaded alternative minimum tax—while making it harder for many upper-middle class taxpayers to escape it, analysts say.
You would think that the country's tax burden is suddenly astronomically high, that U.S. citizens are being forced to fork over more money to the government than ever before. The truth is the opposite.
Rep. Sander Levin, (D-MI), takes a look at the next big battles on Capitol Hill, including spending restrictions and raising the debt ceiling.
This academic says the tax and spending package passed by the Senate and House provides little prospects of improvement.
U.S. manufacturing expanded slightly in December, while a separate report showed that construction spending fell in November for the first time in eight months.
Republican Sen. Bob Corker told CNBC on Wednesday that voting for the deal to avoid the "fiscal cliff" was like "eating a you know what sandwich."
The Sandy aid bill should go to the House floor as the "first order of business" in the new Congress, Rep. Steve Israel said on CNBC's "Squawk Box."
The much-maligned peripheral economies of the euro zone are showing some encouraging signs, leading to talk of a revaluation which would have seemed optimistic for most of last year.
The United States averted economic calamity on Tuesday when lawmakers approved a deal preventing huge tax hikes and spending cuts that would have pushed the world's largest economy off the "fiscal cliff" into recession.
Following a year tainted by heightened economic uncertainty, the world's second largest economy is setting itself up for a positive 2013, say analysts, pointing to China's latest economic data and stellar equity market performance.
Barring major geopolitical shocks, the world economy in 2013 should mark the beginning of sustainably faster growth, one expert believes.
Markets are relieved that the U.S. Congress has approved a deal to avert a "fiscal cliff", but analysts warn that investors now face a rocky two months ahead as negotiations over the debt ceiling begin.
The Senate approved the "fiscal cliff" deal in a late-night vote. House GOP leaders said, "The House will honor its commitment to consider the Senate agreement if it is passed." The House meets on New Year's Day.
Pimco's Mohamed El-Erian sees a 'micro deal' where there should have been a major undertaking.
If Washington reaches this deal on the "fiscal cliff," it's only going to make the debt-ceiling fight even more ferocious.
The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling of milk prices next month.