Fiscal Cliff

    Don’t look now, but another fiscal cliff could be on the horizon.

In today’s Congressional Corner, Union College political science professor Brad Hays tells WAMC’s Alan Chartock that another showdown is possible this fall.

  Following “fiscal cliff” and “debt ceiling,”“sequester” is the latest Washington buzzword.

In today’s Congressional Corner, Union College political science professor Brad Hays tells WAMC’s Alan Chartock that the draconian budget cuts were never supposed to take effect.

The IRS has delayed the opening of the 2013 federal tax filing season until this Wednesday, January 30.  The Massachusetts Department of Revenue is already accepting state returns. The D-O-R kicked off the tax return season with a new one stop web page.   WAMC”s Pioneer Valley Bureau Chief Paul Tuthill spoke with the Massachusetts Revenue Commissioner, Amy Pitter.

The recently passed fiscal cliff legislation included a one year extension of a wind tax credit, a welcome move for developers in Vermont.  The credit is being renewed at the same time that a pair of state senators are calling for a moratorium on wind development.

New tax law packed with breaks for businesses

Jan 3, 2013

WASHINGTON (AP) — Tucked into the "fiscal cliff" tax package approved by Congress are billions of dollars in tax breaks that should make the new year a lot happier for businesses of many stripes, including film producers, race track owners and the makers of electric motorcycles.


The 2012 Farm Bill failed to come to a floor vote in the U.S. House before the end of year, but some key provisions were passed as part of the fiscal bill that the House passed late on New Year’s Day.

'Fiscal cliff' standoff over, Obama back in Hawaii

Jan 2, 2013

HONOLULU (AP) — A week after rushing to Washington to help end a tense, end-of-year standoff with Congress, President Barack Obama is back in Hawaii for vacation.

The president's annual visit to the state where he was born and spent much of his childhood was interrupted as he and members of Congress contended with the unfinished business of the "fiscal cliff" crisis that threatened to throw the economy back into recession.

Congress avoided the automatic tax increases and budget cuts of the dreaded fiscal cliff at the last minute this week with a deal that raises tax rates on individuals with incomes over $400,000 and couples making $450,000.

Bill Tiernan / AP

The vote to avoid the fiscal cliff left a certain House bill still hanging, as House of Representative leaders did not hold a vote on Hurricane Sandy relief funds, a supplemental appropriations bill. And while lawmakers in the Hudson Valley affected by Sandy voted to avoid the fiscal cliff, they expressed frustration and disbelief at not having the chance to vote on the Sandy Aid package. The Senate did pass a $60.4 billion Sandy disaster relief package a few days ago.  Matt Dennis is the spokesman for Democratic Congresswoman Nita Lowey, who represents the 18th Congressional District, which includes parts of Rockland and Westchester Counties, areas hard-hit by Sandy.

photo provided

Northern New York  Congressman Bill Owens joined other representatives from the Northeast in casting votes favoring the American Taxpayer Relief Act late Tuesday night.