Los Angeles Business Journal

Taxes to Rise as Budget Deal Remains Elusive

Monday, December 31, 2012

New Year's Eve dawned with no solution to Washington's budget impasse, setting up a 24-hour scramble to determine whether lawmakers could do what they've promised for months: engineer an alternative to the so-called fiscal cliff, reports the Wall Street Journal and CNBC, which is streaming lawmaker debates on its website. The Journal and the Fiscal Times detail the cuts likely to take place if no deal is reached.