No 'Fiscal Cliff' Deal; Parties Remain Divided Over Taxes, Cuts - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

No 'Fiscal Cliff' Deal As Parties Remain Divided Over Taxes, Cuts

Posted: Updated:

Time is just about up.

We are just hours away from the new year, and it appears congress is not getting any closer on a deal to stop tax increases and program cuts for millions of Americans.

Despite some last-minute maneuvering, congress and the president have been unable to reach a resolution for the "fiscal cliff."

Republicans and Democrats remain divided over what the income limit should be for higher tax rates.

Adjusting Social Security is also a sticking point.

President Barack Obama appeared on NBC's "Meet the Press" Sunday morning. He said Republicans need to realize that tax hikes on the wealthy has to happen in order for the economy to move forward.

"If we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off this sequester or what's called these automatic spending cuts," Obama said. "And that also would have a better outcome for our economy long-term."

Vice President Joe Biden is also involved in talks in a last-ditch effort to get the two sides to broker a deal.

Leaders in both parties on the House and Senate agriculture committees have agreed to a one-year extension of the 2008 Farm Bill that expired in October. In doing so, Congress has managed to avert the so-called "milk cliff," which could have sent milk prices skyrocketing to as much as $7 a gallon starting next month.

The House still has to vote on the bill.

Fox's Doug Luzader joined "Good Day" Friday morning from Washington to report on the latest.

  • Local NewsMore>>

  • Only On Fox: Arsonist On The Loose In South Jersey Town

    Only On Fox: Arsonist On The Loose In South Jersey Town

    Wednesday, April 16 2014 4:45 PM EDT2014-04-16 20:45:07 GMT
    It started with a brush fire, then another fire at the rear of this home on Monroe Street and finally a blaze that swept through this vacant home up the block, just a few feet away from where Emma Sethman
    It started with a brush fire, then another fire at the rear of this home on Monroe Street and finally a blaze that swept through this vacant home up the block, just a few feet away from where Emma Sethman
  • Beautiful Easter Sunday

    Saturday, April 19 2014 8:09 PM EDT2014-04-20 00:09:12 GMT

    NICE EASTER WEEKEND

    The first half of the holiday weekend has been great and Easter Sunday looks just as nice. Clouds thin out late tonight with temperatures falling back to the 40s.

    Initially it'll be jacket weather early Sunday morning but plenty of sunshine will warm us into the 60s by afternoon.  High temperatures will be a few degrees cooler than Saturday.

    It will be noticeably cooler and breezy at the shore with highs in the low 50s.  Quiet conditions continue into Monday.

  • Overturned Boat Victim Identified, Search Continues

    Overturned Boat Victim Identified, Search Continues

    Overturned Boat Victim Identified, Search Continues

    Saturday, April 19 2014 7:38 PM EDT2014-04-19 23:38:03 GMT
    The Coast Guard have suspended an emergency search for a man who went overboard in a boat after he went missing. New Jersey State Police have identified him as 49-year old John J. Poltonowicz.
    The Coast Guard have suspended an emergency search for a man who went overboard in a boat after he went missing. New Jersey State Police have identified him as 49-year old John J. Poltonowicz.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices