Daily Israel Report
02:43
Reported

News Brief

  1/1/2013, Tevet 19, 5773

U.S. to Miss Fiscal Cliff Deadline


U.S. lawmakers missed their deadline to avoid the so-called "fiscal cliff" Monday but said they were near to finding a deal to ease the worst impact of the crisis by heading off tax hikes, AFP reported.

Top political leaders appeared on the verge of a last-gasp deal to resolve the tax side of the showdown, but they fell short of an agreement on slashing spending cuts, which are also due to come into force on Tuesday.