US lawmakers remain divided over the so-called 'fiscal cliff' which would usher in spending cuts and tax rises worth $560 billion unless a cross-party deal can be brokered to cut the US budget deficit.
Failure to reach a deal before midnight on Monday (31 December) would automatically see tax rates go up for 88 percent of Americans, with over 2 million long-term unemployed losing welfare benefits.
The tax rises would be the result of the expiration of tax cuts originally passed i...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.