Roskam, GOP ready to talk to avert ‘fiscal cliff’
Without congressional action, the fiscal cliff arrives for Americans with the new year.
The potential financial disaster comes as Republicans and Democrats prepare for the lame-duck session of Congress and an attempt to reach a bipartisan agreement that could prevent the country from falling back into a recession, economists have said.
Lawmakers have had three years to address the issue – brought on by a combination of automatic tax increases and spending cuts – but waited until the 11th hour after a presidential election mired in party gridlock.
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