If Congress fails to pass an extension of the Bush era tax cuts by midnight Monday, American paychecks will get smaller. You can use the fiscal cliff calculator to see the impact on your paycheck.
With leaders of Congress becoming more and more skeptical a deal will be reached before midnight Monday to avoid the fiscal cliff, it becomes more likely American paychecks will get smaller Tuesday, according to a story in today’s New York Times. “I have to be very honest,” Senate Majority Leader Harry Reid said in the New York Times article. “I don’t know time-wise how it can happen now.” The Senate reconvened today in an unusual session between Christmas and Jan. 1. Even if the Senate passes legislation, the House of Representatives will not come back into session until Sunday barely 24 hours before the deadline, according to a story today on Politico. If no deal is reached, a single person with two exemptions earning $50,000 per year …
More than 300 people responded to a survey by state Sen. Susan Garrett on taxes, budget, pensions and education.
Constituents of state Sen. Susan Garrett (D-Lake Forest) are almost evenly split when it comes to letting last year’s state income tax increase automatically drop in three more years, according to an unscientific survey Garrett took last month. Garrett asked nine questions in the email poll on taxes, education, budget issues and pensions. She said the answers were monitored to prevent people from voting more than once. She has conducted a number of these surveys during her tenure and finds them valuable. “This was the largest response we have ever hand except for the tax increase,” Garrett said referring to the tax hike imposed a year ago by the Illinois General Assembly. At that time, the legislature increased the state income tax from …
Congressman addresses group in Glenview hours after casting vote to cut $60 billion in federal spending.
A passionate group of more than 60 people came to U.S Rep. Bob Dold’s (R-IL) town hall meeting at Glenview Village Hall on Saturday to hear what their congressman had to say about his first six weeks in Washington. The citizens wanted to hear Dold’s ideas and express their own. Some of the participants argued with each other while the first-term congressman acted as the peacemaker. Most had the economy and budget as their top priorities, and there were a myriad of suggestions to improve the situation. Dold was poised to discuss the issue after voting to cut $60 billion from the current federal budget just seven and a half hours before the meeting began. He cast his vote about 3:30 a.m. (CST) on the floor of the House. “We had to go back…
Dan Arenov
11:20 am on Wednesday, January 2, 2013
Hello all, I guess i shouldn't post something like this without providing more details. The idea for this blog, which i've run by the local Patch editor, is to have a small group of people who either lean left or lean right and to be part of a small 'debate' team. We would pick a hot topic each week (maybe pulling from a Brian Slupski news item, etc) on e.g., Monday, and would select one person … more ›