Obama to meet with Republicans, Democrats to try and reach deal
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CHICAGO (FOX 32 News) -
Democrats and Republicans will try to put the election behind them this week as Congress tries to come up with a deal to cut the federal debt and raise taxes.
President Obama will meet with business, labor and congressional leaders on both sides of the aisles to try to reach a deal on the so-called "fiscal cliff" that is coming at the end of the year.
Both sides say they want a deal, but seem to be holding to some of the same positions that caused the crisis in the first place.
"No Republican will vote for higher tax rates," Sen. Lindsey Graham (R-SC) said. "We will generate revenue from eliminating deductions and loopholes, but we will insist our democratic friends reform entitlements - something we've never done and that's where the big money's at."
"There's money to be gained by closing some of these loopholes and applying them to deficit reduction," David Axelrod said. "So I think there are a lot of ways to skin this cat - so long as everybody comes with a positive, constructive attitude toward the task."
If the two sides can not reach a deal by Jan. 1, we will face billions in tax increases and spending cuts that many economists believe will lead to a new recession.
Former Chicago Bears lineman and FOX contributor Dan Jiggetts is an advocate for preventing the sale of high capacity ammunition magazines in Illinois. He's also working on Rocky's Law with Governor Quinn.
Former Chicago Bears lineman and FOX contributor Dan Jiggetts is an advocate for preventing the sale of high capacity ammunition magazines in Illinois. He's also working on Rocky's Law with Governor Quinn.
Friday, May 24 2013 8:28 AM EDT2013-05-24 12:28:27 GMT
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Some aldermen have questions as a City Council committee gets ready to hold a hearing on Mayor Emanuel's proposed changes to the Chicago parking meter deal.
Amid lingering concerns about his national security policies, President Barack Obama is outlining measures to clarify the deadly use of drones against terror suspects.
President Barack Obama sought Thursday to advance the U.S. beyond the unrelenting war effort of the past dozen years, defining a narrower terror threat from smaller networks and homegrown extremists rather than the grandiose...
Thursday, May 23 2013 4:36 PM EDT2013-05-23 20:36:47 GMT
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
The Obama administration has picked a private attorney and former federal prosecutor to head the U.S. attorney's office in Chicago, U.S. Sen. Dick Durbin announced Thursday.
Thursday, May 23 2013 2:18 PM EDT2013-05-23 18:18:06 GMT
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Illinois legislation allowing public possession of concealed guns has passed the House Judiciary Committee. It was a compromise backed by Speaker Michael Madigan.
Anthony Weiner's run for a renaissance is officially on.
Anthony Weiner knows there may be a lot of New Yorkers who would never consider voting for him again, but he says he's running for mayor because he wants to bring his ideas to the fore - and win.
Wednesday, May 22 2013 6:45 PM EDT2013-05-22 22:45:07 GMT
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
Illinois public schools that teach sex education will have to include information about contraception and sexually transmitted diseases instead of a curriculum focused on abstinence.
