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The Boston Globe


Tax uncertainties threaten holiday sales, report warns

But agreement to avoid the fiscal cliff is still elusive

WASHINGTON — Despite signs of robust sales at the start of the holiday shopping season, White House economists warned Monday that the uncertainty of a potential hike in taxes next year for middle class taxpayers under the looming fiscal crisis could hurt consumer confidence at a critical time.

In a report that coincides with Congress’s return after the Thanksgiving holiday, the White House said that if lawmakers don’t halt the automatic increase in taxes for households earning less than $250,000, consumers might curtail their spending.

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