Expert Disappointed in Fiscal Cliff Deal
Lawmakers finally came to an agreement on the fiscal cliff situation late Tuesday, but many are unsatisfied with the outcome. The deal raises the tax rate for anyone who makes $400,000 a year or more, and couples who make $450,000 a year, from 35-percent to 39.6-percent. The deal also extended unemployment benefits for one year, among many other things.
Indiana Fiscal Policy Institute President John Ketzenberger says one of the aspects that was not taken care of was the across the board spending cuts. Ketzenberger says he thought lawmakers would include the spending cuts to balance out the equation, instead of leaving it unbalanced.
Ketzenberger says it's unknown what will happen now with changes in Congress with new members coming into office. He says they have the opportunity to do the right thing, and it's up to Americans to tell them to do the right thing.