Changes

Congressional Republicans have proposed that the Bush tax cuts be extended in their entirety.<ref>[http://in.reuters.com/article/2012/07/24/us-usa-congress-debt-idINBRE86N1G220120724 Reuters-Richard Cowen-Washington Embroiled in U.S. Fiscal Cliff Debate-July 2012]</ref> Republicans have also proposed that the sequester for defense funding be repealled while leaving the sequester of domestic spending in place.

Congressional Republicans have proposed that the Bush tax cuts be extended in their entirety.<ref>[http://in.reuters.com/article/2012/07/24/us-usa-congress-debt-idINBRE86N1G220120724 Reuters-Richard Cowen-Washington Embroiled in U.S. Fiscal Cliff Debate-July 2012]</ref> Republicans have also proposed that the sequester for defense funding be repealled while leaving the sequester of domestic spending in place.

==Stakeholder reactions==

==Stakeholder reactions==

On October 18, 2012, fifteen of the largest US financial companies warned President Obama that interest rates could pike if new laws did not avoid the fiscal cliff.<ref name=wp>{{cite news|title=Business Executives urge action to resolve 'fiscal cliff'|work=Washington Post|date=October 19, 2012|first=Zacjaru|last=Goldfarb|page=A1}}</ref>  A group called "Fix the Debt" is planning to spend $30 million to pressure Congress to act to avoid the cliff.<ref name=wp/> Scott Mather, head of global portfolio management for Pimco said, "The U.S. will get downgraded, it's a question of when."<ref name=wp/>

On October 18, 2012, fifteen of the largest US financial companies warned President Obama that interest rates could pike if new laws did not avoid the fiscal cliff.<ref name=wp>{{cite news|title=Business Executives urge action to resolve 'fiscal cliff'|work=Washington Post|date=October 19, 2012|first=Zachary|last=Goldfarb|page=A1}}</ref>  A group called "Fix the Debt" is planning to spend $30 million to pressure Congress to act to avoid the cliff.<ref name=wp/> Scott Mather, head of global portfolio management for Pimco said, "The U.S. will get downgraded, it's a question of when."<ref name=wp/>

The [[AARP]] is opposing any further extension of the Social Security payroll tax rate reduction. AARP fears that if the Social Security Trust Fund comes from general funds, Congress will be more likely to want to cut future benefits.<ref name=aarp/>

The [[AARP]] is opposing any further extension of the Social Security payroll tax rate reduction. AARP fears that if the Social Security Trust Fund comes from general funds, Congress will be more likely to want to cut future benefits.<ref name=aarp/>

==References==

==References==

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[[Category:Politics]]

[[Category:Politics]]