Democratic Party

Tax Bills for the Rich Approach 30-Year High

With Washington gridlocked again over whether to raise their taxes, it turns out wealthy families already are paying some of their biggest federal tax bills in decades even as the rest of the population continues to pay at historically low rates.

Obama Agenda Will Confront GOP On Debt

Deficit spending got just a single mention in President Obama's inaugural address. But the outcome of the the long-running conflict with Republicans over his tax-and-spend policies will help shape the government's role in coming years, not to mention Obama's legacy.

Fiscal Cliff Deal Leaves Much of the Budget Crisis Still Hanging

The fiscal cliff compromise on taxes leaves critical issues of borrowing, spending and budget cutting unaddressed, and lawmakers have given themselves only two months to settle their differences. Here's a look at what's been resolved and what they left hanging.

Done Deal: Fiscal Cliff Bill Passes the House

A weary House of Representatives passed legislation late Tuesday night that will prevent the long-feared fiscal cliff of broad tax increases and spending cuts. The bill's passage on a bipartisan 257-167 vote sealed a hard-won political triumph for President Barack Obama.

Obama, Boehner One Step Closer on Fiscal Cliff Compromise

Just two weeks before the economy-threatening "fiscal cliff" is due to kick in, both President Barack Obama and House Speaker John Boehner are making significant concessions to each other, backing off what had once been ironclad positions on how to avoid the huge automatic spending cuts and tax increases.

Fiscal Cliff Talks Appear to Be Stalled

Despite an intensifying pace, little progress is being reported in talks on averting automatic spending cuts and tax increases that economists fear could send the U.S. economy off a "fiscal cliff."

Americans Deeply Divided Over Tax-Cut Extensions

While most people support extending at least some of the George W. Bush-era tax cuts due to expire this year, a new Gallup/USA Today survey finds that Americans are deeply divided on which cuts should continue -- and for how long.