|New year arrives before Congress action, technically|
By The Associated Press
WASHINGTON (AP) — The “fiscal cliff” deadline has passed — technically, at least.
The beginning of the New Year in theory means across-the-board tax increases and spending cuts kick in, but Congress is working to cancel them before they can have an impact.
The White House and congressional leaders hope to send legislation to President Barack Obama within a day or two, meaning consumers shouldn't notice any impact.
The goal of the legislation is not only to protect consumers’ pocketbooks, but also to prevent the economy from the risk of another recession.
The following is a press release from the office of Adam Kinzinger, 18:36 hours Dec. 31, 2012:
WASHINGTON – Congressman Adam Kinzinger (R-IL) released the following
statement on the fiscal cliff negotiations:
“The outcome of the fiscal cliff is in the hands of the Senate. The House has acted time after time – well before the January 1st deadline – to offer a balanced approach that stops the defense ‘sequester’ and tax hikes on all Americans.
“Now it’s time for the Senate and White House to act. I remain hopeful that we can come to a conclusion to avoid the fiscal cliff, but it’s unclear at this time whether that is possible.”
NOTE: It is unknown as to when the House will vote on a new deal to avert the fiscal cliff.
Agreement reached on milk prices
By MARY CLARE JALONICK
WASHINGTON (AP) — White House and congressional bargainers have agreed to prevent milk price increases as part of their compromise to avert the “fiscal cliff.”
Senate Agriculture Committee Chairwoman Debbie Stabenow says negotiators have agreed to extend portions of the expired farm through September. She says that includes language keeping milk prices from potentially doubling, but excluding other provisions including energy and disaster aid for farmers.
Stabenow, a Michigan Democrat, says she considers the extension to be “Mitch McConnell's version of a farm bill.” She was referring to the Senate minority leader from Kentucky, who she said forced bargainers to accept the version of the farm bill that appeared in the deal.