Minnesota Reacts To "Fiscal Cliff" Bill

Despite the deal between the president and congress to avoid going over the "Fiscal Cliff", most Americans will still end up paying more taxes.

 

 

 

 

Despite the deal between the president and congress to avoid going over the "Fiscal Cliff", most Americans will still end up paying more taxes.

That's because a temporary two-percent reduction in the payroll tax is going up in 2013.

Minnesota State Economist Tom Stinson acknowledges that in the short term, the fiscal cliff agreement will likely keep the nation out of a recession.

But, he says the debt ceiling must be raised by mid-March at the latest, to avoid a partial federal government shut-down.

(Photo Credit:  University of Minnesota)

 

KFGO News

   

© 2012 KFGO-AM  |  1020 S. 25th Street Fargo, ND 58103