As negotiations continue in Washington over a plan to avoid the fiscal cliff — that combination of tax hikes and spending cuts scheduled for Jan. 1 — one big sticking point is whether to raise tax rates for high-income Americans.
Congress and the White House constructed the cliff last year, thinking it would force them to focus on solving the deficit problem. But they're still battling over what approach makes the most sense.
The White House and congressional leaders continue to talk about taxes, spending cuts and how to avoid the so-called fiscal cliff that arrives at midnight Dec. 31 — when Bush-era tax cuts are set to expire and automatic spending cuts are set to go into effect.
As NPR and others cover the story, we'll try to to point to interesting reports and analyses. Here are three of the latest.
"No substantive progress has been made." That's what House Speaker John Boehner had to say Thursday about efforts to avoid automatic spending cuts and tax increases at year's end.
The administration's lead negotiator, Treasury Secretary Tim Geithner, met with congressional leaders from both sides of the aisle Thursday, looking for an agreement on the hazard Congress and the White House created last year to focus their minds on deficit reduction.