Fiscal Cliff deal reached!

Ab-Titchaz

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Tentative ‘fiscal cliff' deal reached in Senate
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Vice President Joe Biden was headed to Capitol Hill Monday night to brief Democratic senators on a compromise agreement to avert the automatic across the board tax hikes triggered by the midnight "fiscal cliff" deadline. "The White House and Republicans have a deal," a Democratic Senate aide told Yahoo News. The Senate is likely to vote on the agreement Monday night, New Year's Eve; the House is scheduled to return at noon on Tuesday to consider the deal.

Under the compromise arrangement, taxes would rise on income above $400,000 for individuals and $450,000 for households, while exemptions and deductions the wealthiest Americans use to reduce their tax bill would face new limits. The accord would also raise the taxes paid on large inheritances from 35% to 40% for estates over $5 million. And it would extend by one year unemployment benefits for some two million Americans.

Biden, a 34-year Senate veteran, worked out the agreement with Republican Mitch McConnell, the Senate minority leader. Days ago, both President Barack Obama and House Speaker John Boehner said any agreement to dodge the fiscal cliff would have to be crafted in the Senate.

Tentative
 
Reactions: BAK
In exchange, Democrats are asking to extend expiring unemployment benefits, and Medicare physician payments, without offsetting spending cuts.

The net effect of the measure would likely not reduce the deficit. But it would set up a spending-cut cliff early next year. And Democrats are balking. They insist that automatic spending cuts scheduled to take effect later this week be put off for longer than three months, as Republicans have offered.
 
:rockon: time will tell the tales.
 
Rais wa Marekani Barrack Obama, amewataka wabunge wa bunge la wawakilishi kupitisha maazimio yaliopitishwa na bunge la Senate kuhusu sera mpya ya uchumi bila kusita.
Bwana Obama, amesema kuwa makubaliano hayo yanawaokoa asili mia sabini ya Wamarekani dhidi kupandishiwa ushuru na pia yataimarisha uchumi uchumi waa taifa hilo.
Rais Obama, amesema kuwa kwa mara ya kwanza wanaomiliki mabilioni na mamilioni ya fedha watalazimika kulipa ushuru unaohitajika kwa mara ya kwanza kwa zaidi ya miaka ishirini iliyopita.
Wabunge wa chama cha Republican, wamesema kuwa watahitaji muda zaidi kusoma mapendekezo hayo.
Hata hivyo wantarajiwa kupiga kura baadaye hivi leo.


source: bbc swahili
 
Yegomasika said:
Huge win for Democrat...
Click to expand...

Wewe naongelea Harry Reid .alitolewa Kwenye negotiation kwa sababu ni divisive.read the new deal " bush tax cut remains the same na Obama aliomba 1.8 trillion amepewa only 700 billion .Its victory for no body ,na democratic house sidhani Kama watapitisha.I'm sorry Kama nimekutukana sikujua " nyoo ni tusi"
 
Bill sasa is in the House,wao wana option ya kui amend,lakini inasemekana democrats hawataipitisha kwenye senate endapo republicans wataifanyia hivyo kwenye house, ambapo wana options tatu;either kuipitisha,kuikataa ama kuifanyia mabadiliko(amend).
 
tweeted by, Taegan Goddard ‏@politicalwire

Democratic Senate leaders say they will not take up bill amended by House Republicans: "We're done." Senate Democrats will reject House changes to tax bill, aides say - The Hill …


"The House Republicans have two choices: cut their losses and pass the deal now, or else put up a fight they cannot win and pass the same deal a few days now after being further humiliated," said a Senate Democratic leadership aide.

Another senior Democratic aide said Senate Majority Leader Harry Reid (D-Nev.) will not reconsider the bill, which passed by a vote of 89 to 8.

"We're done," said the aide.
 
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