Most Active Stories
- Michigan legislators join national push for Constitutional Convention
- A hunt gone wrong: One man's story of survival in the Alaskan wilderness
- DOWNTON ABBEY Special Preview Screening!
- Book Review: Mitch Albom's 'The First Phone Call from Heaven'
- WATCH NOW: East Lansing boys basketball coach Steve Finamore
Sat June 9, 2012
Could 'Taxmageddon' Crisis Create Compromise?
Originally published on Sat June 9, 2012 6:35 pm
On Jan. 1, trillions of dollars in spending cuts and tax increases — called Taxmageddon — will take effect unless Congress and the White House can agree on a new plan. Many economists say the country will fall back into a recession if it happens. Former Treasury Secretary Robert Rubin says Congress may actually be "forced to make a decision that affects taxes and spending."