June 11th, 2012
08:05 PM ET

Dems hatch plan to avoid America's "fiscal cliff"

You've read about it here recently... America's "fiscal cliff." A daunting combination of the Bush tax cuts expiring and drastic spending cuts is set to kick in this year and could seriously derail the country's economy recovery.

Republicans are pressuring Democrats in Congress to extend the Bush cuts this year, and won't negotiate on partial extensions for certain income levels. So some high level Democrats are hatching a plan to regain the political upper hand.

It's simple – simply let the tax cuts expire at the end of this year, then quickly vote on a new package of cuts focused on the middle class. It would be political poison for the GOP to vote against middle class tax cuts, and that way the cuts would still expire for wealthy individuals. But will it work?

Filed under: Economy • Politics
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