Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

Obama begins negotiations to avoid the 'fiscal cliff'

Ap
Wednesday 14 November 2012 01:00 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The US Congress was back in session yesterday for the first time since the election, confronting the huge task of stitching together a compromise on spending and taxes to avoid the "fiscal cliff" which threatens another recession and higher unemployment.

President Barack Obama was kicking off a series of meetings with labour officials, business executives and congressional leaders. At a news conference today, Mr Obama will step up pressure on Congress to act.

The "fiscal cliff" refers to the expiry of Bush-era tax cuts, along with cuts in spending, which will be imposed automatically if politicians are unable to agree on a plan to cut the deficit.

The President hopes to turn to labour and progressive groups to build support for what he has called a "balanced" plan to reduce the debt while protecting spending priorities.

A meeting with business executives yesterday, many of whom supported Mitt Romney, aimed at enlisting their help in convincing Republicans to support higher taxes on the wealthy.

Mr Obama has invited the top four leaders of Congress to the White House on Friday for talks before he departs on a trip to Asia.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in