Fiscal Cliff

Dem. Aide: Fiscal Cliff Deal Reached

Tax cuts for those earning less than $450,000 preserved

|

A Democratic aide says the White House and congressional Republicans have reached an agreement to avert the so-called fiscal cliff.

The measure would extend Bush-era tax cuts for family incomes below $450,000 and briefly avert across-the-board spending cuts set to strike the Pentagon and domestic agencies this week.

NEXT: US Hits Borrowing Limit

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

  1. Another great day for big government in our country…..

  2. So, increased tax rates on families making $450000 but nothing about cutting spending for the time being?

  3. Oh, how fortunate, our wise masters in their chancellery have overcome their difference to grant us further existence! A thousand feasts for everyone!

  4. Happy novoi year!! I’m only seven minutes late this year!! God Bless Ronald Reagan!!!

  5. From what I read, the agreement was reached among Biden, Reid and McConnell and now it is up to Boehner to marshal the vote in the House – far from a certainty.

    Not to mention which, having the President and the Senate agree to a budget deal and then sending it to the House for approval is pretty much backwards from the way the process is supposed to work. If Boehner had any sense, the House Republicans would long ago have passed a budget and sent it to the Senate, using the Senate’s refusal to adopt it as an argument that the Democrats are the obstructionists in DC.

    1. I honesty don’t think there is anything the Republicans can do that will make the majority statists in this country not blame them for every problem.

  6. If Bush hadnt lowered taxes we wouldn’t even have to have this conversation. So it is all BOOOOOOSHES fault after all.

    So was spending altered at all?

    1. Of course spending was altered. It went up. Which is only fair, really – since technically the Bush tax cuts expired at midnight, this deal just cut taxes by nearly 4 trillion dollars! Surely you don’t begrudge the government getting a few hundred billion more when they just gave you 4 trillion, do you?

      And yes, this ‘deal’ being celebrated is a deal between the Democrats in the Senate and the Democrats in the White House, so if the House doesn’t assent to the deal, we will all know who to blame for being the Grinches Who Stole Christmas.

      1. Wait they have ME 4 trillion??? IM RICH!!! WOOOOOO

        But yes, this whole “deal” is a farce. If House Repubs vote for it then they are no better than the Dems. What a useless Government.

  7. Higher taxes and no spending cuts (increases, actually). The exact opposite of what would be necessary to reduce the deficit while not endangering long-term growth. We’re headed into a recession in 2013 and I don’t really think anyone who voted for this farce deserves much of a pass, Democrat or Republican.

  8. Happy New Jeers!

  9. What would we do without the anointed running things? Good thing we have constitutional law professors explaining to us why rule by constitutional law professors is preferable to rule by constitution.

    This is the A.M. links isn’t it?

  10. Let’s Give Up On The Constitution by the quintessential cunt-faced liberal.

    At least they’re finally removing their masks….

Please to post comments

Comments are closed.