Tentative Deal Reached on 'Fiscal Cliff,' But No House Vote Before Deadline

Share
Copy

"This is one Democrat that doesn't agree with that at all," Iowa Democratic Sen. Tom Harkin said of the tentative deal. "No deal is better than a bad deal, and this looks like a very bad deal, the way this is shaping up."

Failure of Congress to act on a tax measure would trigger income tax hikes on all Americans. The average family would pay an extra $3,446 in 2013 under the higher rates, according to the Tax Policy Center.

Regardless of the "cliff," virtually all workers were due to see less in their paychecks starting in January when a temporary 2 percent payroll tax cut will expire.

Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: A home damaged by a landslide Friday, April 18, 2014 in Jackson, Wyo. is shown in this aerial image provided by Tributary Environmental.
Tributary Environmental/AP Photo
null
Danny Martindale/Getty Images
PHOTO: Woman who received lab-grown vagina says she now has normal life.
Metropolitan Autonomous University and Wake Forest Institute for Regenerative Medicine