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The prospect of the American economy careening off a cliff overshadowed a tax increase that takes effect immediately, rich or not.
Without a deal to avoid the "fiscal cliff," local leaders expect the D.C. area to take a major financial hit.
As the clock ticks toward a Jan. 1 deadline for going over the "fiscal cliff," most wealthy people want to be taxed more, according to a new poll.
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With time growing short and the prospects of a "fiscal cliff" plunge dead ahead, legislators are scrambling to find a deal. But Virginia Sen. Mark Warner says when they do, it won't be a one-sided offering from either party.
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Maryland's revenue projections are better than they've been in years. The state is on the verge of wiping out what was once a $2 billion budget deficit through cuts and tax increases, and it's on track to reap financial benefits in future years from full-fledged casino gambling.
A group of people protesting the the impending mandatory budget cuts that are part of the coming "fiscal cliff" got into the holiday spirit, by caroling their discontent.
A majority of people in the D.C. metro area think a failure to avert the "fiscal cliff" will negatively affect the local economy, but many don't believe it will hurt them personally, a new WTOP Beltway Poll finds.
Even if the White House and lawmakers compromise and avoid the so-called "fiscal cliff," some Americans are going to see their taxes go up.
Most Washington area residents believe the White House and Republicans in Congress will reach an agreement to avert the fiscal cliff, but they strongly want lawmakers to compromise, according to a new WTOP Beltway Poll.
"Maryland is really the No. 1 affected state in the nation when it comes to paying higher taxes if we go off the cliff," says Scott Hodge, president of the Tax Foundation, a non-partisan tax research group that crunched the numbers.