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Reconciliation Jan 1st 2013, 00:00 - What you need to know about the fiscal cliff before you go to your New Year's Eve party. - The fiscal cliff deal could set up a new year of mini-cliffs. Happy New Year's! - Google captures the zeitgeist of 2012. Read full article >> Who would foot the higher 2013 tax bill, in one chart Dec 31st 2012, 23:16 Under the emerging tax deal, meant to avert the "fiscal cliff," Americans would pay roughly $200 billion more in taxes next year perhaps a bit less given the higher tax thresholds that are part of the proposal. Read full article >> Five facts about the Biden-McConnell deal Dec 31st 2012, 22:35 The first thing that everyone points out about the proposed fiscal cliff deal between President Obama and Senate Minority Leader Mitch McConnell is that it lets the Bush tax cuts expire on income above $450,000. It also includes a one-year extension of unemployment insurance, ensuring that 2 million continue to receive benefits, while leaving out an extension of the payroll tax holiday. But there's actually a lot more that's in this possible agreement. Read full article >> AIG to America: Thanks, guys! Dec 31st 2012, 22:25 The giant insurance company that became the recipient of one of the biggest—and least popular—bailouts in history has a message for the American taxpayer: Hey, thanks a lot! Just weeks after the Treasury sold off its final stake in AIG and closed out one of the ugliest chapters of the 2008 financial crisis, the recipient of $180 billion in capital injections and loans is launching a new public relations offensive to try to rebuild a, shall we say, strained relationship with the American public. Read full article >> Here's what Republicans really hated about Obama's news conference Dec 31st 2012, 20:48 President Obama's cheerful, mocking statement enraged Republicans. But the bigger problem is he said something Republican leaders have been trying to hide from their members. Obama said, clearly, that if the GOP wants more spending cuts later, they're going to need to hand over more taxes, too. In fact, he said it repeatedly. Read full article >> Tuesday's tax increase is the biggest in decades Dec 31st 2012, 20:37 The broad increase in taxes likely to occur Tuesday is highly unusual by historical standards. Based on data from the Treasury Department and Moody's Analytics, here's a chart showing, for tax increases since 1940, the magnitude of the tax hike in the year following enactment as a percentage of gross domestic product. The three red bars represent options for what will happen starting tomorrow. Read full article >> Obama's wrong: This 'cliff' deal still raises taxes on the middle class Dec 31st 2012, 20:20 This afternoon, President Obama spoke while surrounded by an ad hoc group of "middle-class Americans" who he promised would be protected from tax hikes by the 11th-hour "fiscal cliff" proposal. That's not what's going to happen. Read full article >> How deficit hawks lost out on the fiscal cliff Dec 31st 2012, 18:11 There are two facts you should know about the "fiscal cliff" deal: One, it won't reduce the deficit by much. Two, it won't avert the fiscal cliff. Read full article >> Why the White House thinks it's winning the 'fiscal cliff' Dec 31st 2012, 17:56 Consider the ongoing fiscal cliff negotiations from the White House's perspective. The specifics of the potential McConnell-Biden deal are fluid, but the bottom line, at the moment, seems to be this: It raises taxes by $600 billion over 10 years, secures important Democratic priorities like unemployment insurance and the stimulus tax credits, and doesn't include any spending cuts of note. Read full article >> Auto sales saved the economy in 2012 Dec 31st 2012, 17:10 It's not too much of an exaggeration to say the U.S. economy was powered by car sales this year. Auto companies are now expected to have sold 14.5 million new vehicles in 2012, according to Kelley Blue Book. That's a 13 percent rise over last year and the highest number of sales since the financial crisis hit. Read full article >> Most will face a rare tax increase with or without 'fiscal cliff' resolution Dec 31st 2012, 16:59 Americans are all but certain to face a broad hike in taxes on Tuesday for the first time in at least two decades, ending a prolonged period of declining taxation that has become a defining characteristic of the American economy. Read full article >> Government doing more to prevent corporations from deducting settlements Dec 31st 2012, 16:37 Federal agencies are taking greater steps to prevent companies from claiming tax deductions on settlements reached with the government, though loopholes in the tax code persist, according to a new study by U.S. Public Interest Research Group. Read full article >> Markets aren't sweating the fiscal cliff Dec 31st 2012, 16:36 The financial markets are proving to be surprisingly indifferent to the last-ditch negotiations underway Monday to avert an austerity crisis. The stock market was up 0.2 percent at 11:00 a.m. as measured by the Standard & Poor's 500 index. A key measure of expected market volatility known as the Vix index was actually down slightly Monday morning, falling 2.4 percent after a steep rise on Friday. Read full article >> Biden, McConnell continue 'cliff' talks as clock winds down Dec 31st 2012, 16:25 Vice President Biden and Senate Minority Leader Mitch McConnell (R-Ky.) continued urgent talks Monday over a deal to avoid the "fiscal cliff" after Democrats offered several significant concessions on taxes, including a proposal to raise rates only on earnings over $450,000 a year. Read full article >> Why Republicans think they're winning the 'fiscal cliff' Dec 31st 2012, 15:52 Consider the ongoing "fiscal cliff" negotiations from the Republican Party's perspective. Not the revanchist conservatives who never believed they'd need to compromise, but the realists who knew, when they lost the election, that compromise was inevitable. Read full article >> Congress's magic words Dec 31st 2012, 15:03 Poli-Sci Perspective is a weekly Wonkblog feature in which Georgetown University's Dan Hopkins and George Washington University's Danny Hayes and John Sides offer an empirical perspective on the issues dominating Washington. In this edition, Hopkins looks at research showing which words best predict the passage -- or failure -- of legislation. Read full article >> New Year's is the deadliest day for pedestrians Dec 31st 2012, 13:37 Just about everyone in Washington is worried about stepping off the "fiscal cliff" on Tuesday. What they should really worry about, though, is stepping off the curb: New Year's Day is the deadliest time to be a pedestrian. Read full article >>

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