The emerging "fiscal cliff" deal would see see a rise in tax rates for individuals with income above $400,000 a year and households with earnings above $450,000 a source familiar with the talks has told Reuters.
America's financial crisis has been averted, not solved. We've had the fiscal cliff. Now get ready for the debt abyss.
Democrats and Republicans have so far failed to agree on an alternative plan to the tax increases and spending cuts scheduled for January 1.