With President Obama back in Washingtonto lead the negotiations, a last minute deal is still attainable.
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While there may be a last minute deal, as there was with the fiscal cliff, it seems less likely.
Democrats, for their part, are demanding that any last minute deal extend expiring unemployment insurance benefits for two million American.
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As are changes in the tax law that are set to take effect in January, short of a last minute deal being worked out.
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Joining Cayne on the panel Wednesday will be former Bear chief executive Alan Schwartz, who negotiated the last minute deal with JPMorgan and the Federal Reserve, Paul Friedman, the former head of fixed income at Bear, Samuel Molinaro, the former chief financial officer, and Warren Spector, the former president.
But with a last minute tax deal, the IRS has pushed off opening day until January 30.
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"This was not some last-minute deal, " said a spokesman for the Finance Committee.
The best case scenario was a last minute budget deal, with subpar reforms and cutbacks, which is exactly what happened.
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Still, while the U.N. talks are at an impasse, some analysts say there is still hope for a last-minute deal.
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The last-minute deal between Campos and the government averts a highly-anticipated trial that was scheduled to take place on April 9.
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Lawmakers made a last-minute deal on 1 January to put them off for two months, but the ultimate outcome is undecided.
The last-minute deal struck by Congress raised taxes on the highest-earning Americans.
David Espo, Federal shutdown: Democrats and Republicans made a last minute historic deal to cut the federal budget and avoid a federal shutdown.
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The delays can be traced to the last minute tax deal, the American Taxpayer Relief Act (ATRA), passed by Congress on January 2.
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Agassi did, however, cancel an appearance at a Wall Street Journal conference last month at the last minute to deal with business in Israel.
Opening day for the IRS had been delayed by more than a week, following a last minute tax deal meted out by Congress in early January.
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Predicting the outcome of this battle is dangerous, but a last-minute deal that satisfies no one, including GM investors, Delphi creditors and UAW workers, is my bet.
Tax season was originally slated to open on January 22, 2013, but due to the last minute tax deal, opening day was delayed to January 30, 2013.
The index logged its best January in almost two decades, after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax increases and spending cuts.
The vote comes less than three weeks after Congress and the White House struck a last-minute deal to prevent the so-called fiscal cliff of sharp spending cuts and tax increases.
The summit's last minute provisional deal on a framework for such mutual recognition was a relief to businessmen who have been pressing hard for it through a transatlantic business dialogue.
Though most investors think a last-minute deal to raise the debt limit will eventually emerge, the difficulty of reaching an agreement may leave a lasting impression on investor sentiment, some traders fear.
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The automatic spending cuts were originally set to take place on 1 January, before Congress passed a last-minute deal to prevent tax rises on most Americans and delay the cuts for two months.
Although many observers expect U.S. lawmakers to reach a last-minute deal to avoid defaulting on its debt, the uncertainty is prompting investors to shift assets into safe havens, like gold and the Swiss franc.
The current fight over the debt limit comes less than three weeks after Congress and the White House struck a last-minute deal to prevent the so-called fiscal cliff of sharp spending cuts and tax increases.
Less than a month ago, Congress and the White House struck a last-minute deal to stop a combination of sharp spending cuts and tax increases from taking effect - measures that would have damaged the fragile economy.
The current fight over the debt limit comes less than a month after Congress and the White House struck a last-minute deal to prevent the so-called fiscal cliff - a combination of sharp spending cuts and tax increases.
As part of the last minute tax deal signed into law on December 17, 2010, (the oh so wordy-titled Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), the energy tax credits were renewed but at lower levels.
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So my question is: What is being done at the moment to prevent the kind of nail-biting that we saw last week with the very last-minute deal being brokered on the debt ceiling, given the magnitude, as you described it, of not raising it?
Then again, if those rates are going up anyway either because we go off the cliff or because Mr. Obama maneuvers them into a panicked, last-minute deal the rational GOP response is to instead choose a deliberate course that mitigates its own political damage, and lands some blows.
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