LITTLE ROCK (Arkansas News Bureau) — As the U.S. House prepared to meet Sunday for a
last-ditch effort to avoid the New Year's Eve "fiscal cliff," members of
Arkansas' congressional delegation differed on the likelihood of a
successful resolution to the current budget impasse.
Friday, U.S. Sen. Mark Pryor, D-Ark., said he was optimistic about the
chances for a meaningful agreement, while U.S. Rep. Steve Womack,
R-Rogers, said avoiding the fiscal cliff appeared unlikely. Others in
the delegation fell somewhere in between.
If a budget agreement is
not reached by midnight on New Year's Eve, a series of automatic tax
increases and budget cuts will be triggered that, according to the
Congressional Budget Office, could lead to a mild recession in the first
half of 2013. Households would see an average federal tax increase of
$3,446, and most federal departments would share in a $110 billion
spending cut — including about a 9 percent to the military's budget.
Click here for more on this story from the Arkansas News Bureau.
A Senate panel says Apple Inc. is avoiding paying billions of dollars in U.S. taxes, but the world's most valuable company says it is complying with the laws and pays "an extraordinary amount" in taxes to the...More >>
Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take...More >>
The Senate Judiciary Committee hopes to nail down an elusive compromise on high-tech visas and may punt a controversy over gay marriage to the full Senate as it makes final drafting decisions on immigration...More >>
Far-reaching legislation that grants a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters...More >>
U.S. officials say they have identified five men they believe might be behind the attack on the diplomatic mission in Benghazi, Libya, last year. The officials say they have enough evidence to justify seizing them...More >>
The U.S. has identified five men who might be responsible for the attack on the diplomatic mission in Benghazi, Libya, last year, and has enough evidence to justify seizing them by military force as suspected terrorists,...More >>
The former head of the Internal Revenue Service heads to Capitol Hill on Tuesday, giving lawmakers their first opportunity to question the man who ran the agency when agents were improperly targeting tea party groups.More >>
Summoned by Congress, a key figure in the Internal Revenue Service's targeting of conservative groups plans to invoke her constitutional right against self-incrimination and decline to testify at a congressional hearing...More >>
Lawmakers are asking Myanmar President Thein Sein (tane sane) to free nearly 250 political prisoners.More >>
Senate GOP leader Mitch McConnell, easing up on his long-held tough stance on Myanmar, said Tuesday he planned to allow key sanctions legislation against the Southeast Asian nation to lapse because of the country's...More >>