Still no breakthrough

By Sunday morning, Senate negotiators had yet to resolve the two key tax issues at issue in a potential "fiscal cliff" deal -- how many wealthy households should face higher income taxes in the new year and how to tax inherited estates.

 Even the extension of unemployment benefits for 2 million people was still up in the air, according to people close to the talks in both parties. Meanwhile, the White House was continuing to resist a Republican push to let automatic spending cuts begin slicing agency budgets next month.

Read the whole story.

Lori Montgomery covers U.S. economic policy and the federal budget, focusing on efforts to tame the national debt.

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Rachel Weiner · December 30, 2012

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