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House to Vote on Fiscal Cliff Bill

danna123 Wrote: Jan 01, 2013 11:49 PM

So more deficit spending that will be paid for by a tax of the lowering of the purchasing power of the dollar. Even more important, the 2% temoprary payroll tax deduction was earmarked for social security benefits. That will assure that the program will fail sooner than its original projections. Congradulations...the mess we are in just got worse

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House to Vote on Fiscal Cliff Bill

House Speaker John Boehner presented two options to his members today—to make an amendment that would add a package of spending cuts to the bill, an extremely risky move, or vote to adopt the deal and send it along to President Obama. After determining there wasn’t enough support to amend the legislation, which passed 89-8 in the Senate, the House is moving forward with an up-or-down vote tonight.

The decision to move ahead with the Senate bill — which allows tax rates to jump to 39.6 percent on income over $450,000 — came after House Republicans internally...

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