Wednesday, January 2, 2013
Congressman says measure puts Northern Virginia 'on the chopping block.'
The U.S. House of Representatives Tuesday night passed HR 8, the Tax Relief Extension Act, a permanent extension of many Bush-era tax cuts by a vote of 257 to 167. The late-night vote was taken at 10:57 p.m. The legislation keeps the Bush era tax cuts for individuals making less than $400,000 and couples making less that $450,000. It also makes permanent the fixes for the Alternative Minimum Tax and delays government spending cuts for two months. Here's the breakdown of Northern Virginia's votes Tuesday on the so-called "fiscal cliff" legislation, which the Senate passed early Tuesday morning: The legislation came to a vote in the House Tuesday night after it was passed by the Senate in the early hours Tuesday morning. Webb and Warner …
Not addressing sequestration puts business growth, NOVA economy in limbo, Fairfax County leaders say.
Fairfax County officials are disappointed Tuesday’s last-minute “fiscal cliff” bill does not address a solution for sequestration cuts that could endanger Northern Virginia’s economic well being. Board of Supervisors Chairman Sharon Bulova said she was grateful Congress took action and passed the bill, which keeps the Bush-era tax cuts for individuals making less than $400,000 and couples making less that $450,000. It also makes permanent the fixes for the Alternative Minimum Tax and delays government spending cuts for two months. “Even though it’s not a comprehensive resolution to everything at least people are talking and at least things have gotten started,” she said. “But we’re disappointed that we still have waiting to do.” Bulova …
Thursday, December 27, 2012
If lawmakers fail to reach compromise, sequestration would hit Northern Virginia especially hard.
While the potential loss of thousands of jobs and a devastating economic blow loom over the region thanks to sequestration, Virginia's senators can only wait and hope a workable compromise is reached before the new year. If such a compromise is not reached by Tuesday, a series of tax increases and spending reductions kick in automatically — taking the country over the so-called fiscal cliff. Some economists and politicians are concerned the combined effect will send the United States back into a recession. U.S. Sen. Mark Warner, a Virginia Democrat, told CBS News this week that at this point any deal that could be made would be relatively small. “I think there’s unfortunately only going to be a small deal,” Warner said. “… We have to …
Wednesday, December 26, 2012
President, Congress have just a few days to avert automatic tax increases and spending cuts.
Thursday, Starbucks baristas from stores across the area will write "come together" on all cups to encourage Congress and the President to come together to fix the fiscal cliff issue. A list of participating Starbucks in Alexandria is at the bottom of this article. For more information about this initiative, go to www.patch.com/fixthedebt. Congress and President Obama are racing against the clock this week as they make one last attempt to hammer out a deal to avoid the so-called “fiscal cliff” the U.S. government is set to go over on New Year’s Day. Without a compromise deal to lower the deficit, the government will face a self-imposed deadline that triggers both spending cuts and higher taxes. Congress itself set the Jan. 1 deadline after…
John Farrell
9:08 am on Thursday, January 3, 2013
Moran got it exactly right. Republicans won again and our President demonstrated a spine more like his hero's predeccesor in the White house than Honest Abe. more ›