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Firms Hit Brakes Before Fiscal Cliff

Wall Street Journal (10/25/12) Scott Thurm

Chief executives increasingly are concerned about the impact of the “fiscal cliff” on their profits. Some business groups are urging lawmakers to take steps to prevent the fiscal cliff, which will occur when the Bush-era tax cuts expire and spending cuts are enacted simultaneously at the start of the new year, but the chief executives of 80 U.S. corporations recently signed a manifesto calling on Congress to use tax increases and spending cuts to lower the federal deficit.