Provided by www.whitehouse.gov Report Details Consequences if Congress Fails to Extend Middle-Class Tax Cuts
Report Details Consequences if Congress Fails to Extend Middle-Class Tax Cuts
WASHINGTON -
With the long holiday weekend now over, the nation's capital turns again to the rapidly approaching fiscal cliff, now just over a month away.
You can hear the hum in the air at Amazon's distribution centers, gearing up for what they hope will their busiest day of the year.
President Barack Obama helped juice retail numbers himself this weekend with some Christmas shopping at a Virginia book store.
But on Monday morning, the White House is warning what could happen to retail sales if government spending cuts and massive tax hikes kick in at the end of the year: the fiscal cliff.
It's a concern retailers have already been talking about. Shoppers are uncertain.
Some Republicans have taken a step toward the president since the election, showing a willingness to raise taxes by capping deductions for high earners.
But rates, Republicans say, should stay where they are. And this only works if Democrats agree to spend less.
Fox News' Doug Luzader has more details in this video report.
Tuesday, May 21 2013 12:26 AM EDT2013-05-21 04:26:18 GMT
A monstrous tornado at least a half-mile wide roared through the Oklahoma City suburbs Monday, flattening entire neighborhoods and destroying an elementary school with a direct blow.
A monstrous tornado at least a half-mile wide roared through the Oklahoma City suburbs Monday, flattening entire neighborhoods and destroying an elementary school with a direct blow.
Monday, May 20 2013 11:08 PM EDT2013-05-21 03:08:39 GMT
An ugly business stained with sex, drugs and violence is exploding on the Internet. It's called sex trafficking, and it happens right here in our area.
An ugly business stained with sex, drugs and violence is exploding on the Internet. It's called sex trafficking, and it happens right here in our area.
Monday, May 20 2013 11:07 PM EDT2013-05-21 03:07:00 GMT
A woman says she got kicked out of a Montgomery County mall for wearing a cancer-awareness hat. But it's the language, not the message, that got her into trouble.
A woman says she got kicked out of a Montgomery County mall for wearing a cancer-awareness hat. But it's the language, not the message, that got her into trouble.
Monday, May 20 2013 10:20 PM EDT2013-05-21 02:20:18 GMT
Mike Kersten and his wife Lisa of Croydon, Lower Bucks County opened their front door over the weekend only to find police telling them to stay inside. A large black bear was spotted climbing one of
A black bear seen in Bucks County is still the talk of the area for residents.
Monday, May 20 2013 7:27 PM EDT2013-05-20 23:27:47 GMT
A century-old community staple in Cherry Hill was up for auction Monday. The Woodcrest Country Club has experienced some financial problems recently, and after efforts from the township and the Freeholders
Cherry Hill's Woodcrest Country Club went up for auction Monday, with a pending sale in place after an offer from a Marlton-based developer.
Monday, May 20 2013 5:13 PM EDT2013-05-20 21:13:26 GMT
The family of the 5-year-old kindergartner abducted in broad daylight from her Philadelphia school is now planning on suing the city and the school district.
The family of the 5-year-old kindergartner abducted in broad daylight from her Philadelphia school is now planning on suing the city and the school district.
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