For the first time in decades, a bipartisan consensus has emerged in Washington to raise taxes. But negotiators working to avert the year-end “fiscal cliff” remain far apart on crucial details, including how taxes should go up and who should pay more.
Neither side gave ground in an opening round of staff-level talks last week at the Capitol. As President Obama and congressional leaders prepare for a second face-to-face meeting as soon as this week, the divide over taxes presents the biggest obstacle to replacing the heap of abrupt tax hikes and spending cuts, set to hit in January, with a less-traumatic debt-reduction plan.
‘Fiscal cliff’: Consensus on increasing tax revenue, a wide gulf on how to do it
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‘Fiscal cliff’: Consensus on increasing tax revenue, a wide gulf on how to do it
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‘Fiscal cliff’: Consensus on increasing tax revenue, a wide gulf on how to do it
