Most Active Stories
- Updated: Future of Wind Power in Alabama at a Defining Moment
- Adapted Athletics in Alabama Part 1: The Rolling Tide
- Understanding How Employers May Change Your Retirement Fund
- Hard Times at the Mill: International Paper to Close Courtland Facility
- Bill Would Allow Loaded Guns in Cars Without Concealed Carry Permit
Sat June 9, 2012
Could 'Taxmageddon' Crisis Create Compromise?
Originally published on Sat June 9, 2012 5:35 pm
On Jan. 1, trillions of dollars in spending cuts and tax increases — called Taxmageddon — will take effect unless Congress and the White House can agree on a new plan. Many economists say the country will fall back into a recession if it happens. Former Treasury Secretary Robert Rubin says Congress may actually be "forced to make a decision that affects taxes and spending."