House won't vote on any deal until after cliff deadline
December 31st, 2012
02:17 PM ET
1 year ago

House won't vote on any deal until after cliff deadline

UPDATE 4:03 p.m. ET: The House of Representatives will not vote Monday on any potential fiscal cliff deal, meaning the U.S. is technically headed over the fiscal cliff. The House will wrap up Monday around 6:30 p.m. ET. After a House GOP Conference meeting at 5 p.m. ET they will have one vote series and then head out for the evening.

Washington (CNN) – House GOP sources told CNN the House is increasingly unlikely to vote on any fiscal cliff package until New Year's Day, after the midnight deadline and after tax rates have technically already gone up.

The reason is partly about process, but the benefit is political.
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Filed under: Fiscal Cliff • House
Social media: Fiscal cliff deadlock is 'jeopardizing faith in our government'
December 31st, 2012
02:12 PM ET
10 months ago

Social media: Fiscal cliff deadlock is 'jeopardizing faith in our government'

(CNN) - The "fiscal cliff" is hours away. And Americans are angry.

Across the country, millions are fed up with a Congress that seems unable to get some important things done.

FULL STORY

Filed under: Fiscal Cliff
Obama says deal 'within sight' but 'not done'
December 31st, 2012
01:52 PM ET
10 months ago

Obama says deal 'within sight' but 'not done'

(CNN) – President Barack Obama said Monday "it appears that an agreement to prevent" the fiscal cliff tax hike for Americans "is within sight, but it's not done."

The agreement would extend tax credits for families with children, for tuition, and for clean energy companies, the president said at a White House event, adding that it would also extend unemployment insurance.
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Filed under: Fiscal Cliff • President Obama
December 31st, 2012
01:42 PM ET
1 year ago

By the Numbers: Politics in 2013

(CNN) – Two-thousand-thirteen promises to be an interesting political year - with two governors races that will be closely watched, the very real possibility of another special Senate election in Massachusetts, a possible debate in Washington over immigration reform as the political clout of Latinos continues to grow, and a planned push by Democrats for gun control measures.

By the numbers, here's a look ahead at politics in 2013:

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Filed under: 2013 • By The Numbers
Obama to deliver fiscal cliff remarks
December 31st, 2012
12:41 PM ET
1 year ago

Obama to deliver fiscal cliff remarks

(CNN) – President Barack Obama will deliver remarks related to the year-end fiscal cliff at 1:30 p.m. ET, the White House said Monday.


Filed under: Fiscal Cliff
Economy hurt - and we're not over the cliff yet
December 31st, 2012
12:15 PM ET
1 year ago

Economy hurt - and we're not over the cliff yet

New York (CNNMoney) - The fiscal cliff hasn't been reached yet, but it has already affected the nation's economy.

Economists say some key aspects of the economy - particularly those affecting consumer and business spending - have been weakened by worries about the fiscal cliff negotiations. But they say the damage is relatively small so far, well short of the new recession that so many feared. Improvements in home and auto sales, as well as job creation, have tempered the decline up to now.

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Filed under: Economy • Fiscal Cliff
Last checks go out for 2 million jobless
December 31st, 2012
12:12 PM ET
1 year ago

Last checks go out for 2 million jobless

New York (CNNMoney) - Some 2.1 million jobless Americans are receiving their last federal unemployment checks this week if Congress doesn't extend the deadline to file for extended benefits.

And another 1 million who exhaust their state benefits in the first quarter of 2013 will never see a federal unemployment payment, according to the National Employment Law Project, an advocacy group.

FULL STORY

Filed under: unemployment
Latest updates: Final fiscal cliff scramble
Senate Minority Leader Mitch McConnell (R-Kentucky) walks with reporters on Capitol Hill. (Photo by Drew Angerer/Getty Images)
December 31st, 2012
12:01 PM ET
10 months ago

Latest updates: Final fiscal cliff scramble

(CNN) - Congress entered the final hours of negotiations Monday before the year-end deadline to reach a fiscal cliff agreement and avoid a combination of major tax increases and automatic spending cuts.

After Congressional leaders struck a deal with the White House late Monday night, the Senate approved a version of the bill in the early hours of Tuesday morning. The House reconvenes Tuesday at noon and will review the bill.

Check back here for the latest developments on Capitol Hill as lawmakers hustle to avert a situation that experts say could throw the economy into crisis.

2:30 a.m. ET – President Obama releases a statement on the Senate vote.

"While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country and the House should pass it without delay

"This agreement will also grow the economy and shrink our deficits in a balanced way – by investing in our middle class, and by asking the wealthy to pay a little more.

"What's more, today's agreement builds on previous efforts to reduce our deficits. Last year, I worked with Democrats and Republicans to cut spending by more than $1 trillion. Tonight’s agreement does even more by asking millionaires and billionaires to begin to pay their fair share for the first time in twenty years. As promised, that increase will be immediate, and it will be permanent."

2:08 a.m. ET

2:06 a.m. ET – Senate passes the fiscal cliff deal 89-8. Reid says there will be no more votes on Senate floor at the time.

2 a.m. ET – Republican Sens. Marco Rubio of Florida, Mike Bennet of Colorado and Chuck Grassley of Iowa also vote "no," brining the total "nays" to eight.

1:50 a.m. ET - Senators voting "no" so far include: Democratic Sens. Tom Carper of Maryland and Tom Harkin of Iowa, as well as Republican Sens. Mike Lee of Utah, Rand Paul of Kentucky and Richard Shelby of Alabama.

1:48 a.m. ET – CNN's Lisa Desjardins obtains a copy of the bill, titled "American Taxpayer Relief Act."

1:41 a.m. ET - Senators voting now. 60 votes are needed to pass.

1:38 a.m. ET -- Reid: "The vote will start immediately."
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Filed under: Fiscal Cliff
Sources: Delay in sequester part of fiscal cliff negotiations
December 31st, 2012
11:30 AM ET
10 months ago

Sources: Delay in sequester part of fiscal cliff negotiations

Washington (CNN) - Republican negotiators attempting to broker a deal to avoid the year-end fiscal cliff are asking for a three-month delay to the across-the-board spending cuts known as the "sequester," according to a Democratic source.

The source said Democrats are pushing for at least a year delay to the cuts.

Said a second Democratic source: "The emerging deal that creates another cliff in three months can't pass."


Filed under: Fiscal Cliff
Harkin: Democrats unhappy; "We may object" to suggested deal
December 31st, 2012
11:13 AM ET
1 year ago

Harkin: Democrats unhappy; "We may object" to suggested deal

Washington (CNN) - Sen. Tom Harkin, a veteran Democrat and a leading liberal voice, told CNN Monday that he and other Democrats may try to block the fiscal cliff deal that's being furiously negotiated ahead of the year-end deadline.

"They think Republicans may object? We may object," Harkin told CNN.
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Filed under: Fiscal Cliff • Tom Harkin
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