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White House: Fiscal cliff failure would raise family's taxes by $2,200 next year

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The White House cautioned on Monday that the average American family would pay $2,200 more in taxes in 2013 unless Congress acts in time to avoid tax increases and massive spending cuts set to take effect in January. The administration's report from the Council of Economic Advisers and National Economic Council concluded that the nation's economic growth would slip 1.4 percentage points...