Get in Touch

The US economy was brought back to the edge of the fiscal cliff late on Tuesday

by on January 2, 2013 in Latest News, News you can use

Fiscal cliffmanship: The US economy was brought back to the edge of the fiscal cliff late on Tuesday as Republicans in the House of Representatives baulked at supporting a bipartisan budget compromise passed in the Senate.

The White House and Senate Republicans forged an agreement solely on the issue of taxes, delaying a tougher decision on spending cuts for two months, making the agreement unpalatable to conservatives in the House. House Republicans did, eventually, give up on the idea of trying to attach spending cuts the bill, allowing a late night vote that approved the deal.

The majority of Republicans voted against it. (Financial TimesBloomberg,ReutersRead more

Print article

Leave a Reply

You must be logged in to post a comment.