U.S. home builders urge Obama, Boehner to avoid fiscal cliff

Major U.S. home builders are urging President Barack Obama and House Speaker John Boehner to avoid the fiscal cliff even if it means adjusting tax rates, the Wall Street Journal reported. In a letter addressed to the two elected officials, CEOs of such companies as Toll Brothers and Hovnanian Enterprises voiced concerns that allowing the steep package of budget cuts and tax increases to take effect could shove the country back into a recession. [more]