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White House: Tax-rise risk a yule downer

‘Cliff’ seen hurting retailers

Posted: November 27, 2012 at 5:37 a.m.

White House Council of Economic Advisers Chairman Alan Krueger speaks to the media about middle-class tax cuts and spending Monday during the daily news briefing at the White House in Washington.

Despite early signs of robust sales, White House economists warned Monday that the uncertainty of a potential increase in taxes next year for middle-class taxpayers under the looming “fiscal cliff” could hurt consumer confidence during the crucial Christmas shopping season.

Tax Hike Threat May Hurt Retailers, White House says

White House economists warned Monday that the uncertainty of a potential hike in taxes next year for middle class taxpayers under the looming fiscal cliff could hurt consumer confidence during the crucial holiday shopping season. (By AP)
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Front Section, Pages 1 on 11/27/2012

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