Schumer Blocks “Fiscal Cliff” Tax Deal
Senator Charles E. Schumer of New York, the Senate’s third-ranking Democrat, threw cold water Tuesday on one emerging approach for striking a bipartisan deficit-reduction deal — an overhaul of the tax code that lowers top income tax rates but raises more revenue. Mr. Schumer’s position complicates efforts to seal a deal before January, when the “fiscal cliff” of tax increases and automatic spending cuts goes into effect.
Source: New York Times. Read full article. (link)
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