| | |
| CBO says Senate's "fiscal cliff" bill adds $4 trillion to deficit Tuesday, Jan 01, 2013 11:39 AM PST WASHINGTON (Reuters) - The Congressional Budget Office on Tuesday said the Senate-passed legislation to avert the "fiscal cliff" will add nearly $4 trillion to federal deficits over a decade, largely because it extends low tax rates for nearly every American. The congressional scorekeeper's analysis could fuel further debate about the legislation, which could come to a vote in the U.S. House of Representatives on Tuesday afternoon. ... Full Story | Top |
| "Fiscal cliff" moves to House, timing and outcome uncertain Tuesday, Jan 01, 2013 11:32 AM PST  WASHINGTON (Reuters) - Washington's last-minute scramble to step back from a recession-inducing "fiscal cliff" shifted to the Republican-controlled House of Representatives on Tuesday after the Senate approved a bipartisan deal to avoid steep tax hikes and spending cuts. In a rare late-night show of unity, the Senate voted 89 to 8 to raise some taxes on the wealthy while keeping income taxes low on more moderate earners. The bill's prospects were less certain in the House, where a vote had not yet been scheduled. ... Full Story | Top |
| Biden will discuss "fiscal cliff" deal with House Democrats Tuesday, Jan 01, 2013 08:25 AM PST WASHINGTON (Reuters) - Vice President Joe Biden will meet with fellow Democrats in the House of Representatives on Tuesday to discuss the "fiscal cliff" deal that he forged with Senate Republican leader Mitch McConnell, a Democratic aide said. The meeting is to be held at the Capitol at 12:15 p.m. ET (1715 GMT). Biden needed to help sell Senate Democrats on the deal before they joined Republicans at about 2 a.m. ET (0700 GMT) in approving the measure. The Republican-led House may vote on the bill as early as later in the day. (Reporting By Thomas Ferraro; Editing by Vicki Allen) Full Story | Top |
| No decision when House will vote on fiscal cliff bill: Cantor Tuesday, Jan 01, 2013 08:10 AM PST WASHINGTON (Reuters) - The Republican leader of the U.S. House of Representatives said on Tuesday no decision has been made on when his chamber will vote on the Senate-passed "fiscal cliff" bill. "We have not made a decision yet," House Republican Leader Eric Cantor told Reuters at the U.S. Capitol. Cantor said such a decision would be made soon, however. It could come as early as later in the day. The House was to reconvene at noon ET/1700 GMT. (Reporting By Thomas Ferraro; Editing by Bill Trott) (This story was corrected to drop reference to Cantor emerging from Boehner office) Full Story | Top |
| House Republicans should accept Senate "cliff" deal: Tom Cole Tuesday, Jan 01, 2013 07:54 AM PST WASHINGTON (Reuters) - Republican Representative Tom Cole said his colleagues in the House of Representatives should vote on Tuesday on the "fiscal cliff" deal passed by the Senate, without adding amendments. ""We ought to take this deal right now, and we'll live to fight another day, and it's coming very soon on the spending cut," Cole said on MSNBC. "We know the essential details and I think putting to bed this thing before the markets is really a pretty important thing to do." (Reporting By Karey Wutkowski) Full Story | Top |
| House Republicans to meet to mull Senate-passed fiscal cliff deal Tuesday, Jan 01, 2013 07:42 AM PST WASHINGTON (Reuters) - Republican members of the U.S. House of Representatives will meet at 1 p.m. ET/1400 GMT Tuesday to discuss "a path forward" after Senate passage of a bipartisan "fiscal cliff" bill, a senior aide said. The meeting could help Republicans leaders decide when to begin consideration of the White House-backed measure. A vote could come as soon as later in the day. (Reporting by Thomas Ferraro; Editing by Bill Trott) Full Story | Top |
| Wall Street ends 2012 riding high on "cliff" deal optimism Tuesday, Jan 01, 2013 06:27 AM PST  NEW YORK (Reuters) - U.S. stocks closed out 2012 with their strongest day in more than a month, putting the S&P 500 up 13.4 percent for the year, as lawmakers in Washington closed in on a resolution to the "fiscal cliff" negotiations. The S&P 500's gain for the year marks its best performance since 2009, as stocks navigated through debt crises in Europe and the United States that dominated the headlines. Still, with numerous issues involving budget talks unresolved, markets could still be open to a shock should the deal break down unexpectedly. ... Full Story | Top |
| Analysis: Economy would dodge bullet for now under fiscal deal Tuesday, Jan 01, 2013 04:26 AM PST  WASHINGTON (Reuters) - A deal worked out by Senate leaders to avoid the "fiscal cliff" was far from any "grand bargain" of deficit reduction measures. But if approved by the House of Representatives, it could help the country steer clear of recession, although enough austerity would remain in place to likely keep the economy growing at a lackluster pace. The Senate approved a last-minute deal early Tuesday morning to scale back $600 billion in scheduled tax hikes and government spending cuts that economists widely agree would tip the economy into recession. ... Full Story | Top |
| Zambia central bank launches rebased currency Tuesday, Jan 01, 2013 03:07 AM PST  LUSAKA (Reuters) - Zambia's central bank launched its rebased kwacha currency on Tuesday, removing three zeros from new denominations which will run side by side with the old bank notes until June this year. "The new notes are a bit confusing because you still have figure out the number of zeros that have been removed before you transact," said Nimon Kambole, a street vendor in the capital Lusaka. ... Full Story | Top |
| IMF says welcomes Egypt's effort to safeguard reserves Tuesday, Jan 01, 2013 02:09 AM PST  WASHINGTON (Reuters) - The International Monetary Fund said on Monday it welcomed steps that Egypt has taken to stop a drain on its international reserves, which had let the Egyptian pound hit record lows. "We welcome the measures taken by the Central Bank of Egypt to ensure that the country will continue to maintain a level of international reserves that can support its international trade and payments," an IMF spokeswoman said. "IMF staff is in close contact with the authorities and we remain strongly committed to supporting Egypt. ... Full Story | Top |
| Obama calls on House to pass fiscal deal "without delay" Monday, Dec 31, 2012 11:54 PM PST WASHINGTON (Reuters) - U.S. President Barack Obama called on Tuesday for the House of Representatives to follow the Senate's lead and pass a "fiscal cliff" deal to extend tax cuts for middle-class Americans and raise tax rates on top earners. "While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country and the House should pass it without delay," Obama said in a statement after the Senate voted overwhelmingly to approve the legislation. "There's more work to do to reduce our deficits, and I'm willing to do it. ... Full Story | Top |
| Senate approves bill to avert "fiscal cliff" Monday, Dec 31, 2012 10:57 PM PST WASHINGTON (Reuters) - The U.S. Senate on Tuesday, two hours after a December 31 deadline had lapsed, approved legislation aimed at averting the "fiscal cliff" by stopping most tax hikes and across-the-board spending cuts that were due to begin with the new year. The House of Representatives still must approve the measure, possibly on Tuesday. (Reporting by Richard Cowan and David Lawder; Editing by Eric Walsh) Full Story | Top |
| Insight: How Colombian drug traffickers used HSBC to launder money Monday, Dec 31, 2012 10:06 PM PST  (Reuters) - When several Colombian men were indicted in January 2010 on money-laundering charges, the case in Brooklyn federal court drew little attention. It looked like a bust of another nexus of drug traffickers and money launderers, with mainly small-time operatives paying the price for their crimes. One of the men was Julio Chaparro, a 48-year-old father of four who owned three factories that made children's clothing in Colombia. But to U.S. authorities the case was anything but ordinary. ... Full Story | Top |
| House will consider Senate's fiscal cliff bill: Boehner Monday, Dec 31, 2012 08:23 PM PST WASHINGTON (Reuters) - The U.S. House of Representatives will consider legislation to avert the "fiscal cliff" if the Senate passes such a measure, House Speaker John Boehner said on Monday. "The House will honor its commitment to consider the Senate agreement if it is passed. Decisions about whether the House will seek to accept or promptly amend the measure will not be made until House members ... have been able to review the legislation," Boehner and other House Republican leaders said in a statement. A House vote could come as early as Tuesday. ... Full Story | Top |
| Democratic senators see support for "fiscal cliff" deal Monday, Dec 31, 2012 08:04 PM PST WASHINGTON (Reuters) - Democratic senators emerged from a meeting with Vice President Joe Biden late on Monday saying there was strong support for quickly passing legislation aimed at averting the fiscal cliff. Senator Joseph Lieberman, an independent from Connecticut, and Senator Charles Schumer, of New York, who is a member of the Senate Democratic leadership, both said the Senate would aim to pass the newly struck deal by a midnight (0500 GMT Tuesday) deadline. If it passes the Senate, the House of Representatives would still have to approve it. A vote in that chamber could come on Tuesday. ... Full Story | Top |
|
No comments:
Post a Comment