Wednesday, January 2, 2013
The agreement reached between the White House and Congress doesn't address spending cuts and leaves another potential debt limit showdown on the table. It also increases taxes on income over $400,000. Is this a deal that works for you?
After a marathon holiday negotiation session, after grumbling by liberal senators and after a near-revolt by conservative representatives, the fiscal cliff deal was approved by the U.S. House of Representatives late Tuesday night. The bargain will increase taxes on income above $450,000 for families, increase capital gains taxes, permanently fix the alternative minimum tax, change the estate tax and provide some changes in deductions. It also will extend unemployment benefits, earned income tax credits and other tax breaks for the working class. The Washington Post has a cheat sheet with all of the details. Middle class taxpayers will still see a smaller paycheck in 2013; The payroll tax cut was not preserved as part of the fiscal cliff …
The bill eases portions of the so-called "fiscal cliff."
Wednesday, January 2
The U.S. House of Representatives approved a deal late Tuesday to ease portions of the so-called "fiscal cliff," according to the Huffington Post. How did our local representatives in Congress vote? Rep. John Tierney, D-Salem, Rep. Ed Markey, D-Malden, and Rep. Mike Capuano, D-Somerville, each supported the measure. The compromise was approved by the Senate at 2 a.m. Tuesday, and despite talk of rejecting it, the House ultimately passed the bill by a vote of 257 to 167. Sen. John Kerry, D-MA, and Scott Brown, R-MA, both supported the measure in the Senate. "Just voted for the fiscal cliff bill," Brown said on his Facebook Page at 1:55 a.m on New Year's Day. "Not the full answer but a small step forward. A lot of work next session. Good …
Friday, November 30, 2012
Massachusetts Democrats in Congress want to avoid cuts in benefits as part of any deal, but proposals such as raising the eligibility age for Medicare are still on the table. What would you do?
As Congress negotiates a deal to avoid the so-called "fiscal cliff" on Jan. 1, Massachusetts' congressional representatives have voiced their opposition to any cuts in benefits such as Social Security, Medicare and Medicaid, the Boston Globe reports. However, there are proposals still on the table that would change those benefit programs, including linking Social Security benefits to a more conservative inflation index that would slightly reduce annual increases, or raising the eligibility age for Medicare from 65 to 67. The Globe reported that while the Bay State's legislators were united against changes to Social Security, there's some wiggle room on Medicare. Rep. Ed Markey opposes raising the Medicare eligibility age; Rep. Michael …