Stutzman on Fiscal Cliff
By: Robert Bumsted
Updated: December 27, 2012
America is headed toward the fiscal cliff -- it could fall off by the beginning of next week.
On Tuesday, tax rates could go up for millions of Americans if Congress can't make a compromise. On Thursday, the senate returned to Washington for a rare Christmas-week session.
The house, however, is still on Christmas break. On Thursday, we spoke with Congressman Marlin Stutzman who says he just wants senate leaders to accept the current plan put forth by republicans.
"I think what really needs to happen at this point is that we just need to extend the tax rates where they're currently at," said Stutzman. "The House passed it and the Senate passed it before so I don't know what the problem is."
If Congress doesn't act before December 31st, the "fiscal cliff" scenario will begin to take effect.
The average Hoosier, making around $48 thousand would pay around $16 hundred more per year in federal taxes. Cuts in government spending, and unemployment benefits would also take effect.
On Tuesday, tax rates could go up for millions of Americans if Congress can't make a compromise. On Thursday, the senate returned to Washington for a rare Christmas-week session.
The house, however, is still on Christmas break. On Thursday, we spoke with Congressman Marlin Stutzman who says he just wants senate leaders to accept the current plan put forth by republicans.
"I think what really needs to happen at this point is that we just need to extend the tax rates where they're currently at," said Stutzman. "The House passed it and the Senate passed it before so I don't know what the problem is."
If Congress doesn't act before December 31st, the "fiscal cliff" scenario will begin to take effect.
The average Hoosier, making around $48 thousand would pay around $16 hundred more per year in federal taxes. Cuts in government spending, and unemployment benefits would also take effect.
Comments
I fail to understand why Congress & Federal employees receive a pay raise. What about a cost of living increase for us/ on Soc Sec. What about loop holes and the outrageous waste spending for projects/experiments?
I want a response to these concerns. Thank you. Carol J Frecker, 7405 Burnsdale Avenue, Fort Wayne, IN 46809 cfrecker1@comcast.net
Carol F.
December 31, 2012 at 10:08 am
