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Morning Examiner: Will Wall Street give cliff jump a green light?

Published on NewsOK Published: December 31, 2012

Conn Carroll

Majority Leader Harry Reid will call the Senate into session at 11 a.m. this morning but it is unclear what he will do after that.

Fiscal cliff negotiations now appear to be developing along two separate tracks: Minority Leader Mitch McConnell and Vice President Joe Biden are negotiating a deal that would raise taxes on all incomes above about $450,000, extend unemployment benefits, fix the alternative minimum tax, prevent Medicare doctor payment cuts, and delay scheduled sequester spending cuts for at least one year.

Separately, Reid is preparing his own fall-back proposal that would raise taxes on all incomes over $250,000, extend unemployment benefits, and leave all other issues unresolved.

Click to read full article at Washington Examiner


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