Our Terms of Use and Privacy Policy have changed. We think you'll like them better this way.

If Congress fails to act the stakes are HIGH on fiscal cliff

  • Broadcast in Finance
All You Need To Know Radio

All You Need To Know Radio


Follow This Show

If you liked this show, you should follow All You Need To Know Radio.


If Congress fails to act, income taxes will go up for millions of middle-class families when the new year begins.

The National Economic Council and Council of Economic Advisers estimates consumer spending would fall by $200 billion nationwide next year. Retailers from big chains to mom-and-pop small businesses would be affected—which is why even the CEO's of Walmart and Costco have called for a balanced approach that protects the middle-class.

Asking millionaires and billionaires to pay their fair share is an essential component of the President's plan for balanced deficit reduction. The Senate already passed this bill and the President is ready to sign it as soon as the House takes action.