fiscal cliff
本文作者： 21st
The US Congress has been urged to take action to *stave off a “*fiscal cliff” by the end of this year. Fiscal cliff refers to a series of tax increases and spending cuts scheduled to begin on Jan 1 next year in order to control the nation’s debt. Most Americans would see their taxes rise, and about 1,000 government programs would face spending cuts. Congress now disagrees on how to deal with it. Republicans want to cut spending and avoid raising taxes, while Democrats prefer a combination of spending cuts and tax increases.
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