DeKalb County representatives discuss fiscal cliff
WASHINGTON – U.S. Rep. Randy Hultgren wants cuts in spending to be a part of any deal that comes out of the fiscal cliff negotiations between the White House and congressional leaders.
An emerging agreement between the White House and Senate Minority Leader Mitch McConnell would raise taxes by about $600 billion over 10 years. However, Congress won't meet Monday midnight deadline on voting to avert the fiscal cliff. The plan also does not address how spending cuts to the Pentagon and numerous domestic agencies would be averted.
Unless an agreement is reached and approved by Congress at the start of the New Year, more than $500 billion in 2013 tax increases will take effect immediately and $109 billion in cuts will be carved from defense and domestic programs. While their effect will be gradual, economists and officials have said their combined impact will trigger another recession.
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