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President Barack Obama will lay out his plan Thursday to deal with the growing concern of the several million Americans who have been informed their health care plan that don't meet minimum standards will be canceled.
As Washington continues to head for a proverbial brick wall with government funding and the debt default, a schism in the Republican Party could be the key to keeping both the federal government in business and the nation from avoiding a debt default.
As the annual August recess continues in Washington, the outcry from some of the most conservative members of the Republican caucus continue to call for either a government shutdown or a debt limit default to halt the implementation of the Affordable Care Act.
Tracy Martin, the father of the late Trayvon Martin, was on Capitol Hill Wednesday for the inaugural hearing of the Congressional Caucus on Black Men and Boys.
Sequestration day has arrived in Washington, D.C. and by 11:59 Friday night, the White House will be forced to order across-the-board, indiscriminate budget cuts in European-style austerity that could plunge the United States back into recession.
In a potentially historic move, President Barack Obama revealed some of the most far-reaching gun control policy reforms in more than a decade. The plans are drawing partisan support and scorn from local and national politicians.
The smoke has barely cleared from the prolonged fight over the fiscal cliff on Capitol Hill, but already Congressional leaders and the White House are drawing lines in the sand over the debt ceiling.
The outline of a deal to avoid the so-called "fiscal cliff" is reportedly been made in the Capitol with just hours to go until the end of 2012.
MIAMI (CBSMiami) – Much of the talk over the next week will not center around the New Year or football, but instead on the so-called "fiscal cliff." It's a catch-all term that's being applied to a massive round of austerity and tax increases set to go into effect on January 1, 2013. But what exactly makes up the fiscal cliff? It starts with the so-called "Bush Tax Cuts" passed in 2001 and 2004. At the time, then-President George W. Bush pushed through two major tax hikes immediately after the government began running surpluses at the end of the Clinton administration. Bush's tax cuts dropped the rates for all Americans, though Democrats argue they disproportionately helped the wealthiest Americans the most. The tax cuts were set to sunset, or end, in 2010, but another deal between President Barack Obama and Republicans in Congress extended them to December 2012. If both parties can't agree on what to do about the tax cuts, the overall tax rates will revert to what they were in 2000 under President Clinton. According to CBS News, this would impact 88 percent of taxpayers with their taxes rising by an average of $3,500 a year. For a family making between $50,000 and $75,000 a year, the average tax bill would jump by $2,400. The loss of the extra revenue for the families would impact their spending power, which then would hamper businesses, which would turn and cut jobs to continue making profits. But the tax hike in overall rate isn't the only tax that will be impacted. A payroll tax cut was enacted in 2010 to help give the economy some stimulus, but both sides appear willing to let that tax cut expire and let payroll taxes rise by 2 percent in 2013. Tax hikes make up only half of the fiscal cliff. The other half is made up of deep spending cuts/austerity that could cripple the government and contractors nationwide. During the 2011 national debt crisis started by Congressional Republicans, a deal was finally struck to increase the nation's debt limit, but a sequester was put on the military and domestic spending. The sequester was put in place to try and spur government action. As part of the deal, both Republicans and Democrats put together a joint committee to seek trillions in deficit reduction. Republicans refused to allow any tax/revenue increases and Democrats balked at major changes to Social Security and Medicare. When both sides declared failure, the sequester kicked in. It imposes deep spending cuts to domestic discretionary spending as well as deep defense department cuts for military spending. Democrats oppose the discretionary spending and Republicans oppose the defense cuts. According to CBS News, budget cuts of 8-9 percent would hit most of the federal government, from law enforcement to the military to weather forecasting. Only a few areas, like Social Security benefits and Veterans affairs, will be spared the deep cuts. Still, the cuts would be phased in slowly over the next decade, which could help minimize the damage if they are not repealed in early 2013. Even if the nation goes off the "fiscal cliff," Congress can pass tax cuts in early 2013 and make them retroactive to any date they so choose. Congress can also choose to delay or cancel any spending cuts they wish. Some pundits believe this is the likeliest scenario to happen. Because Republicans refuse to allow any tax increases, the belief is that both parties will allow the country to go off the "fiscal cliff." At that point, President Obama can put together a massive tax cut package and send it to Congress. Neither party is likely to oppose a tax cut package, but Obama would have the ability to call for the cuts to be applied to only those making less than $250,000 or another similar level. Republicans and Democrats could quickly pass that measure and both sides could declare victory over the other. The tax rate damage would be averted, but both sides would have to deal with the spending cuts in the sequester. The depth of the spending cuts will likely depend on how much revenue is gained from the tax cuts. Cutting taxes for those below $250,000 and letting the others rise will generate significantly more revenue, which can help minimize the cuts to some degree. However, in exchange for allowing the cuts, Republicans may demand other cuts to programs to offset the overall cost of the cuts. It would create a problem because if Democrats balked at other cuts, Republicans may have to choose between voting against a tax cut, or allowing the cuts to go through without any offsets. One key element of any deal will be the debt ceiling. The last time Republicans wielded the debt ceiling as a weapon, the nation's credit rating was dropped for the first time in history and hit the economy hard. Treasury secretary Timothy Geithner said Wednesday the nation will hit its borrowing limit on December 31. Geithner and the Treasury Department will take "extraordinary" measures to allow the government to keep functioning for a few months. However, at a certain point, Geithner will run out of options. If Congress doesn't authorize a hike in the debt ceiling, the U.S. will default on its bills. This could cripple not only the U.S. economy, but also the global economy. President Obama wants a grand deal on tax cuts and everything to include a two-year automatic extension on the debt ceiling. Republicans have balked at this proposal and another showdown could be in the works in 2013. Republicans will want massive offsets in exchange for any hike in the debt ceiling, which Obama and Democrats are likely to oppose. It all sets up for a very hectic end of 2012 and beginning of 2013. In the middle of it all, a brand new Congress will be sworn in and have to deal with all of the issues immediately if no deal is struck before then, which is looking increasingly less likely. But what exactly makes up the fiscal cliff?
A little more than an hour after a moment of silence was marked across the nation to remember the 26 lives lost in the Newtown school shootings, the National Rifle Association finally broke its silence on the issue.
One day after a huge rally in Sanford where a neighborhood watch captain shot and killed Trayvon Martin one month, the parents of the Miami Gardens teen plan to appear Tuesday afternoon at a Capitol Hill forum on racial profiling and hate crimes.
In his first year on Capitol Hill, South Florida 22nd Congressional District Representative Allen West has quickly become a strong conservative voice and a lightning rod for criticism from Democrats.
Marco Rubio took the oath of office Wednesday becoming Florida's Republican U.S. Senator.
A woman who pleaded guilty to dressing as a clown and in 1990 murdering the wife of a man she later married has been released from a Florida prison.
AJ Greer scored his first goal for Florida early in the third period, Aleksander Barkov and Niko Mikkola each had assists in their homeland and the Panthers beat the Dallas Stars 4-2 on Saturday to finish a two-game sweep in Finland.
Detectives say this was a "justified shooting in self-defense."
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Former Cypress Bay student Tim Schmidt Jr. is among those killed.
A woman who pleaded guilty to dressing as a clown and in 1990 murdering the wife of a man she later married has been released from a Florida prison.
AJ Greer scored his first goal for Florida early in the third period, Aleksander Barkov and Niko Mikkola each had assists in their homeland and the Panthers beat the Dallas Stars 4-2 on Saturday to finish a two-game sweep in Finland.
Detectives say this was a "justified shooting in self-defense."
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A Florida man has filed a federal lawsuit against Jacksonville sheriff's officers who severely beat him last year after he ran from a traffic stop.
The Marion County Sheriff's deputy told authorities that he accidentally shot and killed his girlfriend while cleaning his gun.
The American Automobile Association said this is a dangerous time of year for young drivers.
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The U.S. Supreme Court is scheduled Sept. 26 to discuss whether it will hear a First Amendment challenge to a 2021 Florida law that placed restrictions on major social-media companies.
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Elon Musk is encouraging X users to report instances of voter fraud in a new group on the platform. Many of the posts are unsubstantiated or false.
Both Vice President Kamala Harris and former President Donald Trump have offered their views on legalizing weed.
Jim sits down with key stakeholders in some of Florida's most contentious ballot initiatives.
Jim DeFede speaks to two individuals on both sides of legalizing recreation marijuana with Amendment 3.
Republican Rosanna Cordero-Stutz and Democrat James Reyes faced off for a debate as Miami-Dade's sheriff.
Jim DeFede spoke to women who were not allowed to have an abortion in Florida.
Jim goes one-on-one with Dr. Grazie Christie, a radiologist who is opposed to Amendment 4 on the right to abortion.
The manufacturer of tumblers sold at Wawa stores says it has received four reports of cuts from the product's metal drinking straws.
Recalled products were sent to distributors in 35 states and sold on Amazon, Dynarex said in notice posted by FDA.
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At Memorial Healthcare System, the innovative Aquablation procedure is changing the landscape of enlarged prostate treatment.
McDonald's says Quarter Pounders will be back on the menu at hundreds of its restaurants after testing ruled out beef patties as the source of an E. coli outbreak.
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Miami-Dade is considering four possible sites, including two that are 2 miles or less from the city of Miramar.
A viral TikTok recipe that includes melting Jolly Ranchers landed a 9-year-old in the hospital with severe burns.
The American Automobile Association said this is a dangerous time of year for young drivers.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
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Rapper Young Thug, whose given name is Jeffery Williams, pleaded guilty Thursday to gang, drug and gun charges.
Reggaeton artist Nicky Jam on Wednesday revoked his endorsement of Donald Trump, after Tony Hinchcliffe's rally joke calling Puerto Rico "garbage."
A benefit raising money for relief and recovery efforts in the wake of Hurricanes Helene and Milton will be broadcast Saturday night.
Teri Garr rose from being a background dancer in Elvis Presley movies to co-star in such favorites as "Young Frankenstein" and "Tootsie."
Tourism officials on Florida's Gulf Coast say one of the ways concerned people can help the area recover is to visit as tourists.