The United States was able to breathe a sigh of relief as Congress finally passed a bill to steer taxpayers away from the fiscal cliff on Tuesday night.
85 Republicans from the House of Representatives, including Texas Representative Mac Thornberry, joined 172 House Democrats in passing the bill which made current tax rates for 98% of Americans permanent.
Thornberry said waiting until the last moment wasn't necessary. He said, "That was ugly and unnecessary in my opinion to come right up to the edge." We asked the congressman if situations like that could be avoided in the future. He said, "People believe strongly in these things so they want to hold out their position. I wish there was a better way to do it."
The bill locks in tax rates for individuals making less than $400,000 a year couples making less than $450,000 a year. Those making more than that will see their rates jump 4.6%.
The bill also does not address the Payroll Tax Cuts of the last 2 years which have now expired, meaning many Americans could see a smaller paycheck.
Congress will also be facing the debt ceiling and sequestration - sweeping and automatic cuts in federal spending.
Thornberry said the focus now has to be on spending. "Now that taxes have been settled I think the next several weeks and months we will focus on spending and getting spending under control is the key to reducing our debt."
Tuesday, June 18 2013 2:25 PM EDT2013-06-18 18:25:50 GMT
You won't want to miss the Juneteenth celebration on Saturday in Electra. A parade will kick off the Celebration starting at 10 a.m. from the old Dunbar School.
You won't want to miss the Juneteenth celebration on Saturday in Electra.
Monday, June 17 2013 2:03 PM EDT2013-06-17 18:03:43 GMT
Arbor House is hosting a motorcycle rally Saturday. It's from 9:30 a.m. to 11:30 a.m. There are open categories for all bikes. The $10 entry fee will benefit Patsy's House. There will be hotdogs,
Arbor House is hosting a motorcycle rally Saturday. It's from 9:30 a.m. to 11:30 a.m.
Monday, June 17 2013 1:54 PM EDT2013-06-17 17:54:18 GMT
The Better Business Bureau is receiving a lot of calls from consumers who sustained hail damage to their vehicles. The BBB offers the following advice: Call your insurance agent or company immediately
The Better Business Bureau is receiving a lot of calls from consumers who sustained hail damage to their vehicles. The BBB offers the following advice