Tagged: fiscal cliff

Kentucky U. S. Senator Rand Paul says he expects any deal made to avoid the so-called Fiscal Cliff will include tax increases on the top 2 percent. The comments came at today’s Commerce Lexington Public Policy Luncheon. Paul says Democrats are likely to get some tax increase passed, but criticized their rationale.

From NPR: Tax experts say the upcoming fiscal cliff is really more like a pot of water getting ready to boil. The country won’t jump to its doom Jan. 1, the heat will just be turned up then. The experts say people won’t immediately be affected. The changes will come slowly, and probably won’t be noticeable until around the end of January.

If the Army’s 101st Airborne Division Commander knows what impact the upcoming “fiscal cliff” will have on the unit, he’s not saying. Major General James McConville leads the 24,000 soldiers in the 101st based at Fort Campbell.

A tax expert is warning state officials that Tennessee would be among the hardest-hit states if federal officials don't resolve the so-called fiscal cliff. Dr. Stan Chervin says states like Tennessee that depend heavily on sales taxes for revenue would feel the most stress if tax breaks are not extended. The Chattanooga Times Free Press reports Chervin is a senior research consultant with the state Advisory Commission on Intergovernmental Relation.

Sixth District Congressman-Elect Andy Barr says he'll get serious when it comes to cutting spending as Congress deals with the so-called "fiscal cliff." Barr made the remarks on KET's One To One with Bill Goodman this week. In the meantime, however, Barr urged members of Congress to create a temporary fix.