Local reps. weigh in on fiscal cliff
The fiscal cliff may have turned into a slope as the president and Congress try to come up with a way to deal with the budget deficit and an impending tax increase to bring it in line.
Congress is in session, and some local lawmakers say they will give up the Christmas break to bring this to an end.
The latest move appears to show compromise is on the way. Some small business say the latest talk by the president may help them avoid layoffs and help with a recovery.
Joe Krier, president of Krier Wealth Management, says all of this news is helping the markets this month, but no one knows what is really going to happen the first of the year.
"We are kind of in a hunker-down position," Krier said. "We are optimistic about a deal being done, and hopefully a recovery in the economy continues, but we feel there is too much short-term risk to be heavily invested here. So we are erring on the side of conservatisms."
Local members of Congress offered their feel for what could happen.
Republican Rep. Ander Crenshaw released a statement that reads, "I am dedicated to keeping taxes low and our defense strong. Everyone needs to come to the table and review all the options to decrease spending, reform entitlement programs, and increase revenues."
Democratic Rep. Corrine Brown is taking issue with cuts to entitlement and Social Security. She says it's seniors who are going to be pushed over the cliff.
"I do not think seniors need to be the collateral damage, period," Brown said in a phone interview. "Seniors should not be collateral damage. I've been on the floor and said the vote will be 134-1 because I am not penalizing seniors because they did not cause this problem. And let me be clear: Spending and deficit is the same when it comes to the budget."
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