Obama Warns of Tax Hikes Without Fiscal Cliff Action
At campaign events in Michigan, Obama urged action on a fiscal cliff, warning tax increases loom if spending cuts and revenue measures are not agreed. Republicans insist on balancing taxes with targeted cuts, arguing negotiated plans avoid broad across the board reductions and borrowing limits without approval.
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Michigan
Obama
Ohio Republican
Ec Heiming
Starty Ae House
Obama tax plan a small effect on small business owners
The plan to raise taxes on top earners would touch about 940 000 people who report business income on individual returns, 3.5 percent of those with business income next year. Economists diverge on impact with CBO estimates of GDP and jobs tied to the tax change and lawmakers urging caution.
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Barack Obama
Congressional
Obama
Joint Committee On Taxation
Congress
CBO
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Ways and Means
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