The Fiscal Cliff: How Do You Feel About It?
Written by Your 5News Team
Last updated on January 04, 2013 @ 7:08PM
Created on January 04, 2013 @ 5:26PM
Late at night on New Year's Day, 5 news alerted you that the fiscal cliff had been avoided. Now even though tax cuts were extended for the majority of Americans, many lawmakers including Senator Joe Manchin still aren't thrilled with the deal they came up with.
Senator Manchin told 5 News it was the toughest vote he had to make, but it needed to be done. Manchin isn't the only one who's less than pleased with the deal, but ended up approving it anyway. He said Americans can' and shouldn't have to pay higher taxes because their lawmakers can't agree with one another. There were also a number of spending reductions, mainly to federal agencies, that some lawmakers felt were necessary now. But even though the house and senate spent much of 2012 fighting, Manchin said he's hoping for the best in 2013.
"We went over the fiscal cliff for a couple years and I think everyone came to the realization for the good of our country that we couldn't let this happen. And we have to run and make some difficult choices here. So I'm willing and ready to make a commitment to put our finances in order. I think it's the most important thing that we can do immediately," said Senator Joe Manchin.
Senator Rockefeller said most West Virginians will benefit from this deal. He said the bill extends tax cuts for 99.7% of us and thousands will continue to receive unemployment benefits.
Many people have been concerned about the increase in payroll taxes. Everyone who has a job should expect their next paycheck to be a little less, an additional 2%. Some people said that it just doesn't make sense. Everyone talks about helping the economy, but this is doing the exact opposite. One woman said she's happy that the rich will have to pay more in taxes. But if you pay her less, she'll spend less.
"People who make a lot more that used to be able to get away with not paying as much, I think it's time they do pay their share because we've had to pay ours through the years. I think too, I'm thinking of my family that our working and what's this going to do to them," said Judy Haught, Harrison County Resident.
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