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‘Fiscal Cliff’ deal reached

2-month fix halts tax hikes, delays cuts in spending

Reporters pursue Speaker of the House John Boehner, R-Ohio, as he walks Monday to a closed-door meeting as Senate and House leaders rush to assemble a last-ditch agreement to head off the automatic tax hikes and spending cuts set to take effect Jan. 1.
Reporters pursue Speaker of the House John Boehner, R-Ohio, as he walks Monday to a closed-door meeting as Senate and House leaders rush to assemble a last-ditch agreement to head off the automatic tax hikes and spending cuts set to take effect Jan. 1.
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Racing the clock, the White House reached a New Year’s Eve accord with Senate Republicans late Monday to neutralize across-the-board tax increases and spending cuts in government programs due to take effect at midnight, according to administration and Senate Democratic officials. Under the deal, taxes would remain steady for the middle class and rise at incomes over $400,000 for individuals and $450,000 for couples — levels higher than President Barack Obama had campaigned for in ...


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