Fiscal Cliff

Government
11:47 am
Thu January 10, 2013

Three New 'Cliffs' Threaten The Economy

Traders work on the floor of the New York Stock Exchange Jan. 2. Financial market participants will be keeping a close eye on upcoming deadlines affecting the U.S. debt ceiling, scheduled automatic budget cuts and federal funding.
AFP AFP/Getty Images

Originally published on Fri January 11, 2013 2:39 pm

Maybe you were hoping you'd never hear the phrase "fiscal cliff" again after Congress passed legislation Jan. 1 to address that tax-break-expiration deadline.

Sorry.

Three more cliff-type deadlines are fast approaching. They involve: 1) raising the federal debt ceiling 2) modifying automatic, across-the-board spending cuts and 3) funding the government to avert a shutdown.

The deadlines all hit between Valentine's Day and Easter, which means new rounds of chaotic congressional negotiations may start up just after the Jan. 21 presidential inauguration parade ends.

Read more
Business & Tech
5:43 pm
Tue January 8, 2013

After The 'Fiscal Cliff,' Businesses Say Some Uncertainty Remains

U.S. employers added 155,000 jobs in December, a steady gain that shows hiring held up during the tense negotiations to resolve the fiscal cliff. But the unemployment rate remained at 7.8 percent last month.
Damian Dovarganes AP

Originally published on Tue January 8, 2013 6:23 pm

Businesses complained that the uncertainty surrounding the "fiscal cliff" froze their decisions about hiring and expanding, which hurt the economy. Washington has now managed half a deal, which settles tax issues, at least for the time being. But has that removed enough uncertainty to boost some business hiring and investment?

Read more
Headlines
8:18 pm
Fri January 4, 2013

Top Stories Of The Week

Andy Reed signs his contract as Kansas City Chiefs head coach.
Kansas City Chiefs photo

Liberty Memorial got a new designation for the nation’s World War I centennial. And a new era began for the Kansas City Chiefs. Those and other top stories of the week on the Saturday News Review.

Read more
Government
2:30 am
Fri January 4, 2013

Bargain Over Fiscal Cliff Brings Changes To Health Care

A compromise bill that passed the Congress at the last minute included provisions that will reverberate through the nation's health care system.
Saul Loeb AFP/Getty Images

Originally published on Fri January 4, 2013 7:46 am

The bill that prevented the nation from plunging over the fiscal cliff did more than just stop income tax increases and delay across-the-board spending cuts. It also included several provisions that tweaked Medicare and brought bigger changes to other health care programs.

Read more
Government
5:45 am
Thu January 3, 2013

Was Boehner's Fiscal Cliff End Run Past GOP The New Normal?

House Speaker John Boehner, R-Ohio (right), and Majority Leader Eric Cantor, R-Va., enter a Republican caucus meeting at the U.S. Capitol on Tuesday.
Jacquelyn Martin AP

By letting the House take up the Senate's fiscal cliff-dodging legislation that raises income tax rates on the wealthiest earners, Speaker John Boehner answered affirmatively a question that had been on many minds: Would he allow an up-or-down floor vote on a bill opposed by most fellow House Republicans?

Until the New Year's Day vote, Boehner had generally operated the House under what was known as the Hastert Rule. Named for former Speaker Dennis Hastert, it required a "majority of the majority" to support legislation before the speaker approved a floor vote.

Read more
Government
10:18 am
Wed January 2, 2013

Financial Markets Cheer 'Fiscal Cliff' News

Looking up: Traders on the floor of the New York Stock Exchange earlier today.
Spencer Platt Getty Images

Originally published on Wed January 2, 2013 4:08 pm

Though more big battles lie ahead in Washington, Wall Street is following the lead of financial markets around the world in giving a thumbs-up to the deal that kept the federal government from going completely over the so-called fiscal cliff.

Read more
Government
6:30 am
Wed January 2, 2013

It's Not Over: Big Battles Ahead Even After 'Fiscal Cliff' Deal

President Obama was in the Oval Office late Tuesday night as the House finished voting on the "fiscal cliff" deal. After praising the passage, he left for Hawaii to resume a vacation with his family.
Aude Guerrucci/Pool Getty Images

Originally published on Wed January 2, 2013 1:59 pm

  • From 'Morning Edition': The upcoming battles

We're sorry to start the first work day of 2013 on a negative note, but here goes:

Though the House voted 257-167 late Tuesday to OK legislation that kept the federal government from going over the so-called fiscal cliff — and stopped income taxes from rising for about 99 percent of Americans — lawmakers didn't reach agreement on other very divisive issues.

Read more
Government
2:42 pm
Mon December 31, 2012

Service Economy Could Bear Brunt Of 'Fiscal Cliff' Impact

Kansas City.
ZTW1 flickr

The Kansas City region has been recovering from the recession at a slightly faster clip than many other places across the country.

Read more
Government
2:17 pm
Mon December 31, 2012

McCaskill Hopes For Compromise On 'Fiscal Cliff'

Senator Claire McCaskill, D-Mo.
Dan Verbeck KCUR

Missouri Senator Claire McCaskill, a Democrat, says that falling over the so-called fiscal cliff, the deep program cuts, and big tax increases set to hit January 1st wouldn’t be as dramatic as some people imagine.

Read more
Government
12:10 pm
Mon December 31, 2012

Deal To Avert 'Fiscal Cliff' Appears Likely

The Capitol is illuminated in Washington, where the House and Senate remain in session. The two chambers will miss a deadline to avoid the "fiscal cliff" tonight, as 2013 begins.
Drew Angerer Getty Images

Originally published on Tue June 4, 2013 9:01 am

  • NPR's coverage of President Obama's comments on the "fiscal cliff" talks

Update at 9:45 p.m. Deal Reached

Vice President Joe Biden was meeting late Monday with Senate Democrats to brief them on a proposed deal to stop sharp tax increases and spending cuts. A source told NPR the deal with congressional Democratic and Republican leaders includes a mix of both.

Read more
Government
6:19 am
Mon December 31, 2012

Year Ends As It Began, With Lawmakers Headed Toward The 'Fiscal Cliff'

The U.S. Capitol. Will lawmakers avoid the "fiscal cliff" or go over?
Larry Downing Reuters /Landov

Originally published on Mon December 31, 2012 1:05 pm

  • From 'Morning Edition': Scott Horsley reports
  • From 'Morning Edition': David Welna reports

(Scroll down for updates.)

Well, here we are. It's New Year's Eve and with just hours to go before the end of the year and the arrival of the so-called fiscal cliff, Democrats and Republicans in Washington are still trying to strike a deal that heads off automatic increases in taxes, automatic deep spending cuts in a variety of programs and the automatic expiration of some jobless benefits.

Read more
Government
2:10 pm
Sun December 30, 2012

McConnell Appeals To Biden To Break Through Fiscal Cliff Logjam

Senate Majority Leader Harry Reid, D-Nev., walks to a closed-door meeting with fellow Democrats at the Capitol on Sunday.
J. Scott Applewhite AP

Originally published on Sun December 30, 2012 6:36 pm

Senate negotiators failed to reach a deal Sunday on averting the "fiscal cliff," with the chamber adjourning for the night and only one day remaining before a package of spending cuts and tax increases automatically kicks in.

Majority Leader Harry Reid said the Senate will go back in session at 11 a.m. ET Monday. It's at least theoretically possible that negotiators might reach a deal and the Senate will have a package to vote on when it reconvenes Monday, meaning the measure could go to the House — where it may or may not come to the floor for a vote.

Read more
Government
9:58 am
Sun December 30, 2012

Obama 'Modestly Optimistic' On Cliff Deal; 'He Won,' Says Graham

President Obama returned early from his holiday in Hawaii on Thursday for discussions on the "fiscal cliff."
Charles Dharapak AP

Originally published on Sun December 30, 2012 11:48 am

President Obama went on the air to levy pressure on Congress Sunday as Senate leaders worked to negotiate a deal to avert the tax hikes and spending cuts known as the "fiscal cliff."

"I was modestly optimistic yesterday, but we don't yet see an agreement," Obama said in an interview with NBC's Meet the Press taped on Saturday. "Now the pressure's on Congress to produce."

Read more
Government
8:34 am
Fri December 28, 2012

Little Hope, Low Expectations, Lots Of Gloom: 'Fiscal Cliff' Talk Is Dreary

Leaders will meet at the White House this afternoon.
Michael Reynolds EPA /LANDOV

Originally published on Fri December 28, 2012 11:10 am

  • David Welna on 'Morning Edition'

Yes, President Obama and congressional leaders are scheduled to meet at 3 p.m. ET to discuss how to avoid going over the so-called fiscal cliff of automatic tax increases and spending cuts.

But, no, that isn't inspiring much talk this morning of a breakthrough before the midnight New Year's Eve deadline:

Read more
Kansas Government
4:38 am
Thu December 27, 2012

Brownback Hopeful For Wind Energy Tax Credit Extension

humanevents.com

A wind energy tax credit is set to expire at the end of this year, but Kansas Governor Sam Brownback is still holding out hope that lawmakers in Washington will extend the credit.

Read more
Government
1:11 pm
Wed December 26, 2012

'Fiscal Cliff' Deadline Looms, But Sense Of Urgency Seems To Be Lacking

Will the lights be on late at the White House for the next few nights, or will talks about the "fiscal cliff" be less than dramatic?
Larry Downing Reuters /Landov

Originally published on Wed December 26, 2012 1:49 pm

President Obama is "cutting short" a vacation that he'd already said he would cut short. "See you next week," he told reporters last week before leaving for Hawaii. The president is now due back at the White House on Thursday, which is pretty much what was expected. His family will stay in Hawaii until after the New Year.

Senators are also coming back to Washington, but many aren't likely to get to the Capitol until Thursday evening.

Read more
Government
4:55 pm
Wed December 19, 2012

Rep. Cleaver On 'Plan B' And The Fiscal Cliff

Rep. Emanuel Cleaver

The U.S. House of Representatives is likely to vote Thursday on a proposal advanced by Speaker John Boehner to avoid the "fiscal cliff."

Read more
Government
7:18 pm
Tue December 18, 2012

Council: 'Cliff A Threat To KC Economy, Services'

Julie Denesha KCUR

As the President and Republican Congressional leaders continue to butt heads in Washington, the “fiscal cliff” and its 10 percent across-the-board spending cuts loom.

Read more
Government
11:27 am
Tue December 18, 2012

States Dreading Fiscal Cliff Outcome — But Indecision May Be Worse

Massachusetts Gov. Deval Patrick says uncertainty about a federal budget deal in Washington played a big part in his recent announcement of cuts to his state's budget by $500 million.
Steven Senne AP

Originally published on Tue December 18, 2012 11:35 am

It's not the cutting, it's the uncertainty.

That's the lament these days from governors and mayors awaiting the outcome of federal budget negotiations.

They know they're likely to take a hit; they just don't know how bad it's going to be.

"How do you budget for the unknown?" wonders Ed Long, the county executive in Fairfax County, Va. "Our worst fear is that by [the federal government] not acting, the economy is going to get worse going forward."

Read more
Government
4:35 pm
Mon December 17, 2012

Blunt Says No To Gun Control, Blames Fed Health Programs

Missouri Senator Roy Blunt lent a hand for charity while most questions posed to him were about gun violence.
Credit Dan Verbeck / KCUR

U.S. Senator Roy Blunt says badly administered mental health programs should be fixed as a remedy, rather than blame guns, for violence like the Connecticut school killings.

Read more
Government
11:49 am
Mon December 17, 2012

Open-Government Watchdogs OK With Closed-Door Fiscal Cliff Talks

House Speaker John Boehner arrives at the White House on Thursday for a meeting with President Obama. The two men met again in private on Monday in an effort to reach a deal to avoid the "fiscal cliff."
Jacquelyn Martin AP

Originally published on Tue December 18, 2012 11:48 am

If President Obama and House Speaker John Boehner's closed-door meetings aimed at solving the fiscal cliff crisis trouble anyone, you'd expect it to be the open-government watchdogs who routinely bark their outrage at public officials who work overtime to avoid public scrutiny.

Read more
Education
9:32 am
Mon December 17, 2012

KU Lobbies To Save Research Grants

Dan Verbeck KCUR

Amid negotiations in Washington to year end avoid budget cuts and tax hikes, universities are lobbying against grant reductions.

Read more
Government
5:24 pm
Thu December 13, 2012

Obama And Boehner Meet At White House; Session Ends Without Deal

Speaker of the House John Boehner (R-OH) leaves after his weekly news briefing at the U.S. Capitol Thursday. Boehner said negotiations with President Barack Obama to are stalled until the White House offers more federal budget spending cuts.
Chip Somodevilla Getty Images

Originally published on Fri December 14, 2012 6:01 am

President Obama hosted House Speaker John Boehner today, spending nearly an hour together in which they reportedly discussed ways to avert the looming "fiscal cliff" of spending cuts and tax hikes that are due to strike at the end of 2012. Boehner left the White House at 6 p.m., ET, apparently without reaching a deal. As Politico reports, the Republican plans to return to his home state of Ohio this weekend.

Read more
Government
10:27 am
Thu December 13, 2012

On 'Fiscal Cliff,' Majority Of Public Sides With Democrats, Pew Poll Says

President Obama, with House Speaker John Boehner (R-Ohio) behind him, delivering his State of the Union address last January.
Saul Loeb Getty Images

Originally published on Thu December 13, 2012 7:01 pm

As the end-of-year tax increases and spending cuts known as the "fiscal cliff" near, "Democrats are in a strong position with the public," the Pew Research Center reports.

A new national poll Pew released this morning shows that:

Read more
Government
3:53 am
Thu December 13, 2012

Most Of Congress In The Dark On 'Fiscal Cliff' Talks

Originally published on Thu December 13, 2012 10:44 am

Of the 535 members of Congress, not many appear to be in the loop about the "fiscal cliff" negotiations. That makes the rest nervous about having to vote on a bill on short notice despite misgivings about what's in it. But this is often how major deals get accomplished in Washington.

In these budget negotiations, the names Boehner and Obama come up most often — and virtually all the rest are on the outside looking in.

Read more
Agriculture
2:32 am
Wed December 12, 2012

Farm Bill Becomes Fodder In 'Fiscal Cliff' Wrangling

A customer shops for nectarines at a farmers market in San Francisco.
Justin Sullivan Getty Images

Originally published on Wed December 12, 2012 4:58 am

Among the loose ends that lawmakers would like to tie up before the end of this lame-duck session is the farm bill, which is made up mostly of crop subsidies and food stamps.

The last farm bill expired in September. The Senate has passed a new one; the House has not. Farm-state lawmakers are urging leaders to include a farm bill as part of any budget deal to avert year-end tax increases and spending cuts.

But not everyone thinks that's a good idea.

Read more
Government
5:09 pm
Tue December 11, 2012

Boehner Sends 'Fiscal Cliff' Counteroffer To White House

Speaker John Boehner leaves his office Tuesday and walks to the House floor to deliver remarks about negotiations with President Obama on the fiscal cliff.
J. Scott Applewhite AP

Originally published on Tue December 11, 2012 5:33 pm

The back and forth over the "fiscal cliff" continues: House Speaker John Boehner sent a new counterproposal to the White House on Tuesday that, according to a spokesman for the speaker, aims to "achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs."

Tuesday's offer from Boehner follows his remarks on the House floor in which he called on President Obama to identify what spending cuts the White House will accept as part of a "balanced approach" toward a deal.

Read more
Government
11:27 am
Tue December 11, 2012

Missouri Could Lose $1 Billion Over Fiscal Cliff

The Pew Center on the States breaks down the tax impact of the so-called fiscal cliff on Missouri.
Credit Pew Center on the States

The Washington-based group Federal Funds Information for States reports defense spending cuts could total more than $1 Billion in Missouri if automatic budget cuts are not averted.  Other programs in the state would be hit, too.

Read more
Business & Tech
8:09 am
Tue December 11, 2012

Today's Three Stories To Read About The 'Fiscal Cliff'

President Obama and House Speaker John Boehner, R-Ohio, at the White House on Nov. 16.
Toby Jorrin AFP/Getty Images

Originally published on Tue December 11, 2012 11:18 am

As we've said now several times, "the White House and congressional leaders continue to talk about taxes, spending cuts and how to avoid the so-called fiscal cliff that arrives at midnight Dec. 31 — when Bush-era tax cuts are set to expire and automatic spending cuts are set to go into effect."

As NPR and others cover the story, we're pointing to interesting reports and analyses. Here are some of the latest.

Read more
Government
7:42 am
Tue December 11, 2012

Kansas Faces Fiscal Cliff

The University of Campus Kansas in Lawrence seen at sunset. KU would suffer tens of millions of dollars cuts in federal grants if no deal is reached between Congress and President Obama.
KU flickr

Budget negotiations between President Obama and Congressional leaders continue, but if those talks fail, Kansas will see a series of funding cuts that will affect the future of higher education, research, and military bases in the state.

Read more

Pages