User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


60° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

 

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

The Fiscal Cliff Fight

December 27, 2012, 6:00 PM by Don Jorgensen

The Fiscal Cliff Fight

The clock is ticking as millions of Americans hold their breath to see if lawmakers in Washington can reach an agreement to avoid going over the so-called fiscal cliff. They have until the end of the year, but if they can't find common ground, your taxes will go up.

We asked Republican Senator John Thune how close they are to finding common ground.

"Not very at the moment, but my hope is that between now and the first of the year which happens next Wednesday, there will be some common ground we can find that would allow us to prevent these tax increases and across the board cuts from going into effect January 1," Thune said. 

If there's no deal, taxes would hit nearly everyone, including small business owners and Thune says that could hurt the economy and likely send the country back into a recession.

Democratic Senator Tim Johnson said in a statement via email:

I am working in Washington and am still pressing leaders from both parties to find a solution to the Fiscal Cliff. It is more difficult now because the members of the House of Representatives have not returned from Christmas break. I would like to see them return and at least vote on the Senate-passed bill that would prevent tax increases for middle class Americans. So far, the House has refused all proposals unless they get another tax cut for millionaires and billionaires.

The bill in the Senate would at least extend the tax rates for another year. The President is expected to offer another proposal, but Republicans aren't too optimistic.

"Part of it is he thinks if he allows the pressure to build, he can get everything he wants and if he doesn't get what he wants he can blame the republicans, so there is a lot of political gamesmanship going on, I think there is," Thune said.

House members will return to Capitol Hill on Sunday and could begin voting on any proposal that night. They would have about 24 hours then to approve a deal.

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View business

You may also like

Millions Of Android Phones At Risk For Heartbleed

4/15/2014 4:10 PM

If you've got an Android phone, your device could be susceptible to the Heartbleed security problem.

Full Story
Shrimp Prices Soar

4/16/2014 11:00 AM

The next time you order shrimp scampi of the menu, you may be in for sticker shock. 

Full Story
Headliners For JazzFest Announced

4/17/2014 10:54 AM

Plans are in place for JazzFest 2014 in Sioux Falls.

Full Story
Key Unlocks Gas Pumps For ID Thieves

4/14/2014 10:10 PM

Drivers who've fueled up in Rapid City are being warned that their debit and credit card numbers may have been stolen after "numerous" s...

Full Story | Watch
Eric Church Concert Near-Sellout Within Minutes

4/18/2014 5:55 PM

The first ticket sale to an event at the new Denny Sanford PREMIER Center proved to be a boon at the box office Friday

Full Story | Watch


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED