To The Over The Fiscal Cliff

 

 

 ” Lawmakers kicked off negotiations over the so-called fiscal cliff at the White House on Friday with both sides expressing optimism that a deal could be reached before the end of the year.

Republicans in Congress say they understand their political leverage is diminished after the election and are largely resigned to a compromise that would force wealthy families and small businesses to pay more in taxes.

However, GOP leaders have insisted that any new revenue come from closing tax loopholes and other special interest deductions for the wealthy as opposed to raising tax rates which they said would undermine economic growth. “