More political, budget fights loom
Opponents to the last-minute federal fiscal cliff deal see the same fights moving into the next Congress.
“I think it’s indicative of how things will play out over the next few months and the next four years,” said Rep. Alan Nunnelee, R-Tupelo.
Nunnelee and his House colleagues lost a 257-167 vote to pass a Senate measure averting the so-called “cliff.”
President Obama quickly signed the measure, the 112th Congress’ final major act.
The bill indefinitely extends marginal tax rates on annual family income up to $450,000, lifts the top capital gains and dividends rates to 20 percent, extends unemployment insurance benefits and includes a host of other tax provisions.
It also delays automatic spending cuts for two months, setting up another fiscal showdown over replacing those cuts, raising the debt ceiling and funding the federal government.
Soon after, Nunnelee said he could not “support a deal that adds to our spending-driven debt crisis.”
It’s the new, looming showdowns that give longtime politics watcher Dr. Marty Wiseman heartburn.
Posted January 3, 2013 - 2:30 pm