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Fiscal Cliff

Wednesday, January 2, 2013

Moran Votes 'No' on Fiscal Cliff Deal

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 …

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 ›

Friday, December 28, 2012

Virginia's Senators Waiting for 'Fiscal Cliff' Vote

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 …

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