WAMC's Brian Shields speaks with tax attorney and certified public accountant John Lavelle of Lavelle & Finn, LLP.
The dreaded drop off the fiscal cliff has been avoided, so what does it mean for our taxes. Before the agreement, there were dire predictions that many middle-class Americans could see their yearly tax bills go up by some three thousand dollars, if Congress and the White House did not agree on a tax and spending plan by the time the ball dropped in Times Square.
The House of Representatives late Tuesday easily approved emergency bipartisan legislation sparing all but a sliver of America’s richest from sharp income tax hikes -- while setting up another “fiscal cliff” confrontation in a matter of weeks.
Lawmakers voted 257-167 to send the compromise to President Barack Obama to sign into law. Eighty-five Republicans and 172 Democrats backed the bill, which passed in the Senate by an 89-8 margin. Opposition comprised 151 Republicans and 16 Democrats.
Vox Pop : Open Forum - The Fiscal Cliff : 12/19/12
The nation is fast approaching the so-called fiscal cliff, and after last week’s school shooting in Connecticut and the addition of gun policy to the legislative agenda, it’s unclear whether democrats and republicans will be able to make up their minds on anything before the end of the lame duck session.
Today we’re talking about what the so-called fiscal cliff means for Medicare and Social Security. Joining us for this discussion are two experts on these topics.
Cheryl Matheis is a senior policy strategist and executive with AARP. As senior vice president for policy, she heads the effort to enlist opinion leaders in an informed dialogue to engage the American public in the future of Social Security and Medicare.
Neal Lane is the former director of the New York State Office for the Aging. He is widely recognized as an innovator for aging services.
Progressive activists are staging demonstrations and taking other actions across the country Monday to urge no cuts to social safety net programs be part of any deal to avoid the fiscal cliff. In western Massachusetts they took the message to a district office of the state’s senior US Senator John Kerry. WAMC’s Pioneer Valley Bureau Chief Paul Tuthill reports.
In demanding no cuts to Medicare, Medicaid and Social Security, Jenny Daniell, an organizer with MoveOn, said they wanted to remind Senator Kerry that Main Street, not Wall Street, won the last election.
Advocates for the elderly across the region are raising red flags over potential cuts to Medicare and Social Security as federal leaders argue over what should be done to avoid the fiscal cliff.
AARP Vermont is concerned that last minute budget deals in Washington could have a negative impact on Vermonters. The group has issued an analysis of how a budget deal that may include Medicare and Social Security changes would impact the state’s seniors.
New York Comptroller Thomas DiNapoli says state residents will face $43 billion in tax increases if Washington can't find a way to avoid the fiscal cliff.
DiNapoli says the many cost-cutting and tax-increasing measures that would automatically kick in without a budget deal between Congress and President Barack Obama's administration will cost each New York family thousands of dollars.
DiNapoli is scheduled to release his analysis of the impact of the budget dispute on Wall Street and New York at a Business and Labor Coalition of New York event in Manhattan on Thursday.
The Patrick Administration’s top budget official warns failure to avert the “fiscal cliff” in Washington will seriously harm the Massachusetts state budget. WAMC’s Pioneer Valley Bureau Chief Paul Tuthill reports
If the country goes over the so-called “ fiscal cliff” Massachusetts could lose $300 million in tax revenue this fiscal year and $1 billion dollars next year. It would also cost the state $200 million in federal funding that helps pay for a variety of programs according to the Massachusetts Secretary of Administration and Finance Jay Gonzalez.