How Much Income Taxes Could Rise: A Breakdown Of The Options

John Ydstie — Fri, 30 Nov 2012 10:24:16 +0000

"No substantive progress has been made." That's what House Speaker John Boehner had to say Thursday about efforts to avoid automatic spending cuts and tax increases at year's end.

The administration's lead negotiator, Treasury Secretary Tim Geithner, met with congressional leaders from both sides of the aisle Thursday, looking for an agreement on the hazard Congress and the White House created last year to focus their minds on deficit reduction.

Perhaps the most important sticking point is over income tax rates.