Despite Deal, Taxes To Rise For Most Americans

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WASHINGTON — While the tax package that Congress passed New Year’s Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013. That’s because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. […]

With New Year’s Day Vote, Congress Avoids Fiscal Cliff

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WASHINGTON — Past its own New Year’s deadline, a weary Congress sent President Barack Obama legislation to avoid a national “fiscal cliff” of middle class tax increases and spending cuts late Tuesday night in the culmination of a struggle that strained America’s divided government to the limit. The bill’s passage on a bipartisan 257-167 vote […]

During Discussions Over Fiscal Cliff Groups Say: Tax Them, Not Us

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WASHINGTON – A big coalition of business groups says there must be give-and-take in the negotiations to avoid the “fiscal cliff” of massive tax increases and spending cuts. But raising tax rates – a White House priority – is out of the question, the group adds. The homebuilding industry says it won’t tolerate even a […]