US lawmakers seek last-gasp fiscal deal | Bangkok Post: news

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US lawmakers seek last-gasp fiscal deal

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After weeks of failed haggling, the fiscal cliffhanger is at hand as US lawmakers convene Sunday in a bid to strike a year-end deal that avoids huge tax hikes and possibly spending cuts set to kick in January 1. 

View of the dome of the US Capitol in Washington DC on December 9, 2009. After weeks of failed haggling, the fiscal cliffhanger is at hand as US lawmakers convene in a bid to strike a year-end deal that avoids huge tax hikes and possibly spending cuts set to kick in January 1.

With the clock ticking ever closer to the New Year's time bomb, the suddenly alarmed Senate and House were holding special sessions 36 hours before the year-end deadline for a plan that would keep America from tumbling off the so-called fiscal cliff.

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