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Rockefeller: Fiscal Cliff Bill Good for W.Va.
Written by Your 5News Team
Last updated on January 03, 2013 @ 11:35PM
Created on January 03, 2013 @ 7:45PM
CHARLESTON, W.Va. (AP) - U.S. Sen. Jay Rockefeller says most West Virginians will benefit from the fiscal cliff deal approved by Congress.
The legislation raises the top income tax rate on families earning over $450,000 a year. It also includes $12 billion in spending cuts.
Rockefeller said Thursday that the bill extends tax cuts for 99.7 percent of Mountain State residents.
The West Virginia Democrat says many tax credits will continue under the legislation. They include the earned income tax credit, expanded child tax credit and tax credits for economic development, mine safety and school construction.
About 10,000 West Virginians will continue to receive federal unemployment benefits.
President Barack Obama signed the bill Wednesday evening.
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