Lead Stories

House votes to avert fiscal cliff

"House votes to avert fiscal cliff" Continued...

“I think what gets lost in the 30-second sound bites on the fiscal cliff is the real cliff facing this country in the form of a massive wave of entitlement obligations,” said Rep. Ed Royce, R-Calif.

Republicans will now push to get spending cuts and entitlement reforms included in pending budget battles, including an expected fight in February over raising the federal debt ceiling. But Democrats believe the Republican support in the House and Senate for the tax increases found in the fiscal cliff deal will make it easier to push for additional revenue hikes.

While Congress debates and deadlocks, small business owners across the nation will deal with new taxes.

“Chances are, they’ll do it by firing employees, cutting back their hours and benefits, or postponing the new hire they were looking to make,” said Sen. Marco Rubio, R-Fla., one of just five Republicans who voted against the fiscal cliff deal in the Senate. “Rapid economic growth and job creation will be made more difficult under the deal reached here in Washington.”

Edward Lee Pitts
Edward Lee Pitts

Lee is WORLD's Washington Bureau chief. As a reporter for the Chattanooga Times Free Press, he was embedded with a National Guard unit in Iraq. He also once worked in the press office of Sen. Lamar Alexander.

Comments

You must be a WORLD member to post comments.

    Keep Reading

     

    Good credit

    Competency-based programs offer college credentials without the debilitating cost

     

    Soaring sounds

    Three recent albums highlight the aesthetic and emotional range…

     

    Numbers matter

    Understaffing the U.S. effort in Iraq from the beginning…

    Advertisement