Fiscal Cliff Now Just Over One Month Away - FOX 29 News Philadelphia | WTXF-TV

Fiscal Cliff Now Just Over One Month Away

Posted: Updated:

With the long holiday weekend now over, the nation's capital turns again to the rapidly approaching fiscal cliff, now just over a month away.

You can hear the hum in the air at Amazon's distribution centers, gearing up for what they hope will their busiest day of the year.

President Barack Obama helped juice retail numbers himself this weekend with some Christmas shopping at a Virginia book store.

But on Monday morning, the White House is warning what could happen to retail sales if government spending cuts and massive tax hikes kick in at the end of the year: the fiscal cliff.

It's a concern retailers have already been talking about. Shoppers are uncertain.

Some Republicans have taken a step toward the president since the election, showing a willingness to raise taxes by capping deductions for high earners.

But rates, Republicans say, should stay where they are. And this only works if Democrats agree to spend less.

Fox News' Doug Luzader has more details in this video report.

  • Local NewsMore>>

  • Fox Sports: Phillies' Hamels Available In Trade Talks

    Fox Sports: Phillies' Hamels Available In Trade Talks

    Tuesday, July 29 2014 7:39 AM EDT2014-07-29 11:39:48 GMT

    There are now only two days left until the Major League Baseball trade deadline. FOXSports.com is reporting that the Phillies have made pitcher Cole Hamels available.

    There are now only two days left until the Major League Baseball trade deadline. FOXSports.com is reporting that the Phillies have made pitcher Cole Hamels available.

  • Vigil To Be Held For Victims Of Carjacking, Deadly Crash

    Vigil To Be Held For Victims Of Carjacking, Deadly Crash

    Tuesday, July 29 2014 7:28 AM EDT2014-07-29 11:28:58 GMT

    Family and friends are gathering today to remember the victims. And now a Philly celebrity is stepping in to help the family through this difficult time.

    Family and friends are gathering today to remember the victims. And now a Philly celebrity is stepping in to help the family through this difficult time.

  • 70-Year Old Woman Reported Missing In Camden

    70-Year Old Woman Reported Missing In Camden

    Tuesday, July 29 2014 7:10 AM EDT2014-07-29 11:10:03 GMT
    Arlene Webb, 70, was reported missing from her home on the 500 block of N. 34th Street.
    Arlene Webb, 70, was reported missing from her home on the 500 block of N. 34th Street.
Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices