Tax Cuts, Tax Deal | featured news

President Obama is ending a difficult year with two significant events which the White House hopes will change perceptions of his leadership and bolster his authority.

President Barack Obama signed into law an $858 billion bill extending for two years Bush-era tax cuts to boost a fragile economy and add jobs.

It's the most significant new tax law in a decade, but what does it mean for you? Big savings for millions of taxpayers, more if you have young children or attend college, a lot more if you're wealthy.

A deal that President Barack Obama struck with Republicans to extend expiring tax cuts for nearly every working American and spur job growth sailed through the Senate on Wednesday.

Former Massachusetts Gov. and potential GOP 2012 presidential candidate Mitt Romney today penned an op-ed in USA Today criticizing the tax deal, though he stopped short of urging Republicans in Congress to vote against it. "Death and taxes, it is said ...

The Democratic-led U.S. Congress moved on Monday toward grudging approval of President Barack Obama's deal with Republicans to extend expiring tax cuts, even for the wealthiest Americans.

Congress will approve without major changes the $858-billion package that extends tax cuts and jobless benefits, says President Obama's senior advisor David Axelrod: 'No one wants to see taxes go up on 150 million Americans.'WASHINGTON — A top advisor to President Obama said Sunday a $858-billion package of tax cuts and jobless benefits will pass Congress without major changes, despite a revolt by some House Democrats.

"Agreement taken as a whole is I believe the best bipartisan agreement we can reach," ex-president says at news briefing with Obama beside him.

House Democrats voted not to bring up a tax deal President Obama negotiated with the GOP, raising questions over the president's influence in his own party.

Short-term positives jockey with long-term concerns as Street opens with narrow gains.