Than 450,000 in income. Itemized deductions would be limited for individuals making more than 250,000 and couples making more than 300,000. The estate tax would rise to 40 . Emergency Unemployment Benefits would be extended for another year. The alternative minimum tax would be adjusted for inflation permanently. And, in an effort to boost the economy, Small Businesses would be eligible for another year of bonus depreciation when they buy equipment. The big hang up is what to do about the sequester 110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. Democrats want to postpone the cuts for a year or more. Republicans for just a few months. I think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. The president says taxincrea. Cutting spenting next year. Iif they think that is thefos thing they have another think coming. That is not how its going to work. We have to do this i
Than 450,000 in income. Itemized deductions would be limited for individuals making more than 250,000 and couples making more than 300,000. The estate tax would rise to 40 . Emergency Unemployment Benefits would be extended for another year. The alternative minimum tax would be adjusted for inflation permanently. And, in an effort to boost the economy, Small Businesses would be eligible for another year of bonus depreciation when they buy equipment. The big hang up is what to do about the sequester 110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. Democrats want to postpone the cuts for a year or more. Republicans for just a few months. I think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. The president says taxincrea. Cutting spenting next year. Iif they think that is thefos thing they have another think coming. That is not how its going to work. We have to do this i
Captioning sponsored by wpbt this is n. B. R. Susie good evening everyone, and happy new year. Im susie gharib. With just hours to go a deal emerges to avert the fiscal cliff, but can Congress Pass the measure in time . President obama says they can, weve got the latest from washington, on what could happen before the new years day deadline. And wall street ends the year with a rally and healthy gains. S p strategist sam stovall joins us with where he sees stocks headed in 2013. That and more tonight on n. B. R. washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. The senate could vote in time, but its possible the house will wait until tuesday. That means the u. S. Could go over the fiscal cliff. On wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is in sight, and positive comments from Republican Leaders in the senate. Heres how the major
But they might not get it done before the midnight deadline tonight. The senate could vote in time, but its possible the house will wait until tuesday. That means the u. S. Could go over the fiscal cliff. On wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is in sight, and positive comments from Republican Leaders in the senate. Heres how e major averagesr closed on this last trading day of 2012. The dow surged 166 points, the nasdaq jumped about 60, and the s p rose almost 24 points. While wall street has already closed the books on 2012, washington still has a few hours to go before its new years day fiscal cliff deadline. Darren gersh has the latest. Reporter after a weekend of latenight negotiations with the vice presidt, Senate Republican leader Mitch Mcconnell said an agreement on the fiscal cliff was very, very close. Well continue to work on finding smarter ways to cut spending, but lets not let that hold up p
On wall street today, investors bought up stocks on high hopes of deal after president obama said this afternoon a deal is in sight, and positive comments from Republican Leaders in the senate. Heres how the major averages closed on this last trading day of 2012. The dow surged 166 points, the nasdaq jumped about 60, and the s p rose almost 24 points. While wall street has already closed the books on 2012, washington still has a few hours to go before its new years day fiscal cliff deadline. Darren gersh has the latest. Reporter after a weekend of latenight negotiations with the Vice President , Senate Republican leader Mitch Mcconnell said an agreement on the fiscal cliff was very, very close. Well continue to work on finding smarter ways to cut spending, but lets not let that hold up protecting americans from the tax hike that will take place in about 10 hours. Reporter the deal would raise the top tax rate for individuals making more than 400,000 and couples with more than 450,000 i