Tax Hikes

  • Fiscal cliff bill will help reduce deficit, says US President Barack Obama January 2, 2013

    The US Congress has approved a rare tax increase that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession. ...
  • US 'fiscal cliff' crisis heads to resolution in Congress January 2, 2013

    Washington: A months-long battle over the US "fiscal cliff" headed to a close on Tuesday as the House of Representatives moved toward final approval of a bipartisan deal meant to prevent Washington from pushing the world's biggest economy into recession. The Republican-controlled House was expected to back a tax hike on...
  • Obama presses jobs plan passage to bridge income gap October 30, 2011

    Washington: US President Barack Obama on Saturday urged Congress to pass the administration's stalled jobs plan to speed up US economic growth and reduce the widening income gap. Obama cited a latest Congressional Budget Office (CBO) report to show that the US middle class has lost ground while the wealthiest few...
  • Obama will hike taxes to pay for his jobs bill September 13, 2011

    Washington: In a sharp challenge to the GOP, President Barack Obama proposed paying for his costly new jobs plan on Monday with tax hikes that Republicans have already rejected, and he accused them of political motives if they still refuse to go along. "The only thing that's stopping it is politics,"...