Republicans oppose any new taxes, even if for closing loopholes rather than increasing rates.The looming spending cuts were first scheduled to take effect on Jan. 1. But they were postponed to March 1 as part of year-end "fiscal cliff" negotiations that also raised tax rates on affluent Americans. Republicans insist that's enough tax increasing for now.
Gov't Downsizes Amid GOP Demands For More Cuts
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts