Late on the evening of Jan. 1, the U.S House of Representatives followed the Senate in passing a bill to avert the "fiscal cliff" – a series of steep tax hikes and spending cuts that went in to effect at midnight the same day. If left in place, experts worried that the national economy could fall in to recession.
The bill represented an effort to compromise between Republican and Democratic leaders. However some representatives on both sides of the aisle remained opposed. Republican Rep. Patrick McHenry, who represents the 10th District, which includes most of Asheville, voted against the measure. He joined 150 other Republicans and 16 Democrats in the House who voted against it. Voting in favor were 172 Democrats and 85 Republicans, including GOP Speaker of House John A. Boehner of Ohio. In what's likely to be his last vote as a congressman, outgoing 11th District Democratic Rep. Heath Shuler voted in support.
One of the most controversial aspects of the deal will allow income taxes to rise for the highest earning Americans. It will be the first time income taxes will rise on anyone in the country in two decades, according to the New York Times. President Barack Obama advocated for similar changes throughout his successful campaign for reelection and planned to sign the bill in to law.
Here's the statement released by McHenry immediately after the vote:
The bill represented an effort to compromise between Republican and Democratic leaders. However some representatives on both sides of the aisle remained opposed. Republican Rep. Patrick McHenry, who represents the 10th District, which includes most of Asheville, voted against the measure. He joined 150 other Republicans and 16 Democrats in the House who voted against it. Voting in favor were 172 Democrats and 85 Republicans, including GOP Speaker of House John A. Boehner of Ohio. In what's likely to be his last vote as a congressman, outgoing 11th District Democratic Rep. Heath Shuler voted in support.
One of the most controversial aspects of the deal will allow income taxes to rise for the highest earning Americans. It will be the first time income taxes will rise on anyone in the country in two decades, according to the New York Times. President Barack Obama advocated for similar changes throughout his successful campaign for reelection and planned to sign the bill in to law.
Here's the statement released by McHenry immediately after the vote:
McHenry Disappointed in Fiscal Cliff Tax Hikes
Washington, D.C. - Congressman Patrick McHenry issued the following remarks regarding passage of the fiscal cliff deal reached by President Obama and leaders in Congress:
“I’m disappointed with the inability of leaders in Washington to come together and protect Americans from tax hikes,” said Congressman McHenry. “The real problem is that the federal government spends too much money. That's why conservatives in the House passed legislation to stop these tax hikes and replace sequestration with targeted spending cuts. Unfortunately, we'll continue to see dangerously high deficits until President Obama and Harry Reid get serious about our government spending more money than we take in.”
Earlier this year, the National Federation of Independent Business released a study by accounting firm Ernst & Young. The study demonstrated that tax rate increases favored by President Obama would result in 700,000 lost jobs across the country and reduced wages for other workers of 1.8 percent.
“Throughout this debate, the President repeatedly stated his hope for a balanced deal,” continued Congressman McHenry. “However, the legislation passed tonight actually increases both taxes and spending. That is simply unacceptable and I couldn’t vote for such a measure.”
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How about a little light on the subject? The innocuously titled 'National Federation of Independent Businesses' is a conservative lobbying group, started in 1943 by a former Chamber of Commerce staffer. It was the lead plaintiff in fighting the Affordable Health Care Act, causing it to go to the Supreme Court. It is funded in large part by the Koch Brothers and Karl Rove's Crossroads GPS (who gave them 3.7 million dollars).
During 2012, the organization's entire advertising budget went to supporting Republican candidates or opposing Democratic candidates. 100% of it.
This so-called 'study' was paid for by this big-business front group, and was actually done by a former Bush official who now works for the accounting firm.
More smoke and mirrors to disinform the public.
By Dionysis
01/02/2013
Started in 1943? Those Johnny come latelys can't be trusted.
By indy499
01/02/2013
what is the big deal re: fiscal cliff? this is an easy issue to resole.
1. save 1,7 trillion by eliminating obama care. 1.7 trillion is only for one million people, but rest asure at least 10 million will sign on so that number of savings is 17 trillion.
2 eliminate the war in afganistan and save 2 billiuon a day. add that number up and multiply by 360 days. what a savings.
3. eleminate all foreign aid. ww2 is over and the money is used against the u.s. a savings of oever 50 billion.
4. cut the beneifits of all pols. no more country club, free hair cuts, etc. cut their pay as they want to cut social security and medicare.
so what is the problem with resolving the fiscal cliff?
By thomas
01/02/2013
How are facts attained by an accounting firm 'smoke and mirrors'? Such is the make up of the Obongo Regime.
By Unaffiliated Voter
01/03/2013
I just noticed this question or I would have replied before now. Smoke and mirrors because this study suggests something not found in reality:
"...the Ernst & Young report assumed the revenue would be used for “additional government spending.” According to the 2013 budget proposed by Obama, spending would go down. As part of the Budget Control Act agreed to by both parties, discretionary spending will be reduced by $1 trillion over 10 years. The projected deficit for the 2012 fiscal year, $1.33 trillion, is expected to drop to $901 billion in FY 2013.
There’s another small-print caveat to the Ernst & Young report, the definition of “long run.” A footnote at the bottom of the report explains that “roughly two-third to three-quarters of the long-run effect is reached within a decade.” In other words, when the report cites the loss of 700,000 jobs, a quarter to a third of those job losses would happen more than a decade from now."
http://factcheck.org/2012/11/facts-falling-off-the-fiscal-cliff/
As much as many Republicans disdain fact checking and facts, as we learned during the last election campaign, they have a pesty habit of not disappearing. McHenry should know this (maybe he does but and is purposely disingenuous).
By Dionysis
01/09/2013