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+ - The U.S. Going Over Fiscal Cliff, Tax Deal Might Cushion Landing-> 1

Submitted by Jetra
Jetra (2622687) writes "The House of Representatives has no plans to take any votes before midnight tonight, meaning the U.S. is technically going over the “fiscal cliff”, with more than $500 billion in tax hikes and $110 billion in automatic spending cuts kicking in for 2013. But the landing still might be cushioned by a deal between Senate Republicans and the White House that would protect couples earning up to $450,000 from most of the income tax increases that would otherwise take effect in 2013 as a raft of tax cuts, including the steep income tax reductions first passed under President George W. Bush, expire."
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The U.S. Going Over Fiscal Cliff, Tax Deal Might Cushion Landing

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