Local reaction to fiscal cliff debate
Like many small business owners, Rich Para is patiently waiting for the answer to a $500 billion question.
In less than two weeks, the country could plunge off a “fiscal cliff” as more than $500 billion in automatic tax hikes and spending cuts will be triggered Jan. 1 if an extension of existing tax breaks or a new compromise cannot be reached by Congress.
Para, co-owner of Sweet Earth in Sycamore, said the decision in the nation’s capital would affect his small specialty store on Route 64.
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