US lawmakers race to avoid 'fiscal cliff'

Al Jazeera English 2012-12-31

Views 68

The "Fiscal Cliff" is a term used to describe the expiry of tax cuts going back to 2001.

If there's no deal - 88 per cent of Americans will end up paying 400 billion dollars more in taxes.

Al Jazeera's John Terrett reports from Washington, DC.
Show more

Share This Video


Download

  
Report form
RELATED VIDEOS
Obama calls for balanced approach to avoid
play
01:34

Obama calls for balanced approach to avoid "fiscal cliff"
Obama returns to Washington to try to avoid 'fiscal cliff'
play
01:25

Obama returns to Washington to try to avoid 'fiscal cliff'
Obama ready for deal to avoid fiscal cliff
play
00:55

Obama ready for deal to avoid fiscal cliff
Obama under pressure to avoid
play
00:57

Obama under pressure to avoid "fiscal cliff"
Relief for Obama as the US avoids the
play
01:20

Relief for Obama as the US avoids the "fiscal cliff"
Greece: Lawmakers pass painful reforms to reach fiscal targets
play
01:49

Greece: Lawmakers pass painful reforms to reach fiscal targets
Lawmakers Back In Washington To Battle Cliff
play
00:55

Lawmakers Back In Washington To Battle Cliff
NEW: Speaker McCarthy Warns Lawmakers That It's 'Crunch Time' To Avoid Government Shutdown
play
03:24

NEW: Speaker McCarthy Warns Lawmakers That It's 'Crunch Time' To Avoid Government Shutdown
LIVE- U.S. lawmakers debate suspending the debt ceiling to avoid government shutdown
play
01:25:05

LIVE- U.S. lawmakers debate suspending the debt ceiling to avoid government shutdown
US Shutdown: lawmakers reach tentative deal to avoid new shutdown
play
01:48

US Shutdown: lawmakers reach tentative deal to avoid new shutdown
Obama delivered a powerful message to GOP lawmakers on healthcare. [Mic Archives]
play
01:33

Obama delivered a powerful message to GOP lawmakers on healthcare. [Mic Archives]
Obama urges lawmakers to end debt squabble
play
00:51

Obama urges lawmakers to end debt squabble