Latest 'Fiscal Cliff' News
A list of the most recent stories about Fiscal Cliff.
Home prices rise across U.S.
WASHINGTON (AP) — U.S. home prices rose in most major cities in October compared with a year ago, pushed up by rising sales and a decline in the supply of available homes. Higher prices show the housing market is improving even as it moves into the more dormant fall and ...
Does Ohio still have clout on Capitol Hill?
When House Speaker John Boehner came to Congress in 1991, he was one of 21 members of the Ohio congressional delegation — 23 if you count the state’s two senators. When Boehner, R-West Chester Twp., is sworn in next year, that group will have shrunk by five. And seven of ...
Ohio unemployment rate drops for third-straight month
Ohio’s jobless rate fell for the third-straight month to 6.8 percent in November as employers across the state added 1,600 non-farm jobs last month, the Ohio Department of Job and Family Services reported Friday.The Buckeye State’s current unemployment rate is the lowest it’s been since August 2008 and is down ...
Stores, malls expanding hours for shoppers
Shopping malls and retailers are expanding hours and slashing prices this weekend to snag as many late holiday shoppers as possible as one key forecast of Christmas sales turned less optimistic. Some retail centers are opening earlier than usual this weekend, although none will go quite as far as Macy’s ...
Obama to press for policy changes after shooting
President Barack Obama is launching an administration-wide effort to curb gun violence, underscoring the growing political consensus over tightening gun restrictions following the horrific massacre at a Connecticut elementary school. Obama is tasking Vice President Joe Biden, a longtime gun control advocate, with spearheading the effort. In remarks from ...
White House rejects Boehner plan to avoid ‘fiscal cliff’
House Speaker John Boehner Tuesday floated the idea of a “Plan B” approach to the looming fiscal cliff that would extend current tax rates for all but those making more than $1 million a year, but the plan was quickly panned by the White House as well as Senate and ...
Record number of seasonal workers added
The retail industry expects stronger sales this holiday season, and that contributed to U.S. retailers adding a record number of seasonal workers between October and November, according to an analysis of not seasonally adjusted federal labor data by outplacement firm Challenger, Gray & Christmas, Inc. The hiring boom provides further ...
2013 outlook: Economy may contract
Next year’s economy is predicted to contract making it difficult for businesses and investors to navigate, said leaders of James Investment Research Inc. during a preview of their annual economic forecast on Monday.Several factors conspired to give the firm’s 2013 outlook a pessimistic edge: The approaching “fiscal cliff,” higher federal ...
Some companies to pay dividends early in case of higher tax rates
Some local companies are paying their fourth quarter dividends early to avoid shareholders paying potentially higher tax rates after the end of the year. The parent company of The National Bank and Trust Co. of Wilmington said Monday it will pay its fourth quarter dividend on Dec. 28. The Clinton ...
Ohio sees growth in $30M superrich category
New data show Ohio’s ultra-wealthy population is growing, but the state has a smaller proportion of superrich residents than most other states, which some financial advisers claim is partly linked to the state’s “high” level of taxation. About 1,330 Ohioans have a net worth of $30 million or more, an ...
Boehner walking ‘tightrope’ between House GOP and Obama
House Speaker John Boehner was in no mood to wait. So the day after President Barack Obama was re-elected, Boehner marched to the Rayburn Room in the Capitol building to say he was ready to deal with the White House on a long-term budget plan. He told reporters that the ...
Group rallies outside Boehner’s local office
About 15 people rallied Thursday outside Speaker John Boehner’s local office in West Chester Twp., urging Congress to continue negotiations for reducing the national deficit.The need for further spending cuts has only been exasperated as the “fiscal cliff” approaches, said David Little, spokesman for ProgressOhio, a nonprofit advocacy group, who ...
Senate OKs pay raise for military
The Senate approved Tuesday a $631 billion defense bill that includes a 1.7 percent pay raise for military personnel and $91 million to help keep open suppliers of the M1A2 Abrams tank produced at the Lima Tank Plant. Ignoring a veto threat, the Senate voted 98-0 for the legislation that ...
Sen. Portman heckled by crowd during debt speech
Sen. Rob Portman thought he was just giving a speech on fixing the debt Tuesday. Instead, at least seven hecklers made sure that didn’t happen, interrupting the Republican repeatedly during a speech at a conference at a Washington hotel. One after another, members of the group – which included four ...
GOP proposes changing Medicare eligibility, tax loopholes
The House Republican leadership on Monday offered up a $2.2 trillion deficit reduction plan that would combine tax reform, discretionary spending cuts and increasing the eligibility age for Medicare and other entitlement programs in an effort to avoid the “fiscal cliff.”House Speaker John Boehner responded to President Barack Obama’s deficit ...
Some Ohio employers reluctant to forecast job needs
Ohio’s efforts to train workers for the jobs of the future are being hampered by a lack of information about what these jobs might be. Gov. John Kasich and members of his newly formed Executive Workforce Board admit they are frustrated by the lack of participation they are receiving from ...
Clock ticking on $500B fiscal cliff
Unless Congress passes a variety of tax and spending measures this month, the ball in Times Square won’t be the only thing dropping on New Year’s Eve. To hear most experts tell it, jobs, incomes and the entire economic recovery will go with it. The so-called budget sequestration — the ...
Escalating military pay under scrutiny
Mounting deficits and escalating costs have some budget hawks posing a provocative question: Are we paying our service members too much? Military compensation has outpaced inflation rates and private sector wages by more than 25 percent the past decade, according to the Congressional Budget Office, and some contend it’s time ...
Boehner: ‘American economy is on the line’
Declaring that the “American economy is on the line,’’ House Speaker John Boehner Thursday called on President Barack Obama and congressional Democrats to “get serious’’ about cutting federal spending as part of a major budget deal. A pessimistic sounding Boehner, emerging from a meeting with Treasury Secretary Timothy Geithner, said ...
Top 5 tax documents to have on hand before 2013
Although the 2013 ball has yet to drop and your W2 isn’t even in the mail yet, it’s not too early to start prepping your end-of-year documents and reviewing the important items you may need for your 2012 tax filing. If you’re an investor or if you’ve been through a major life change ...
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