Wednesday, January 2, 2013
The bill eases portions of the so-called "fiscal cliff."
The U.S. House of Representatives approved a deal late Tuesday to ease portions of the "fiscal cliff," according to the Huffington Post. How did our local representatives in Congress vote? Rep. Ed Markey, D-Malden, Rep. John Tierney, D-Salem, and Rep. Mike Capuano, D-Somerville, each supported the measure. The compromise was approved by the Senate at 2 a.m. Tuesday, and despite talk of rejecting it, the House ultimately passed the bill by a vote of 257 to 167. Sens. John Kerry, D-MA, and Scott Brown, R-MA, both supported the measure in the Senate. "Just voted for the fiscal cliff bill," Brown said on his Facebook Page at 1:55 a.m on New Year's Day. "Not the full answer but a small step forward. A lot of work next session. Good luck."
Monday, December 31, 2012
The financial deadline looms in Washington, with no deal yet made. Check this primer, and share your questions and thoughts.
With Christmas 2012 over, one reality check is that the looming "fiscal cliff" deadline is just a few days away. On Dec. 31, tax cuts dating to the George W. Bush presidential term are scheduled to expire, and President Obama and congressional leaders have not reached a compromise. Of course, that means tax bills would increase for many middle- and upper-class taxpayers. And that means paycheck withholding for many workers would change, leaving them with less take-home pay in the new year. Apparently, though, there will be no immediate change in withholding tables, while the situation is unresolved. According to John Tuzynski, the IRS’ chief of employment tax policy, employers should continue to use 2012 withholding tables and personal …
Thursday, December 27, 2012
President, Congress have just a few days to avert automatic tax increases and spending cuts. A number of Massachusetts Congressman suggest cutting nuclear programs instead.
Starbucks baristas are writing "come together" on all cups in the Washington, DC, area to encourage Congress and the President to come together to fix the fiscal cliff issue. For more information about this initiative, go to www.patch.com/fixthedebt. Congress and President Obama are racing against the clock this week as they make one last attempt to hammer out a deal to avoid the so-called “fiscal cliff” the U.S. government is set to go over on New Year’s Day. Without a compromise deal to lower the deficit, the government will face a self-imposed deadline that triggers both spending cuts and higher taxes. Congress itself set the Jan. 1 deadline after failing to come to a budget compromise earlier this year. On Jan. 1, the George W. Bush-…