Happy New Year

The "Fiscal Cliff" was finally addressed by Congress over the New Year's holiday.  The bill that was finally passed will protect millions of middle-class taxpayers from tax increases that were set to take effect this month. However, it also will let rates rise on wages and investment profits for households making more than $450,000 a year.  

The bill will also extend Unemployment Insurance to approximately 2 million unemployed workers who are about to lose their federal benefits.  It also delays sequestration for two months to allow Congress to come up with a plan so automatic cuts to federal budgets won't take effect.

 

In my opinion, this wasn't a perfect fix and definitely wasn't a long-term solution.  Congress still has lots of work to do.  I encourage you to contact your congressional representatives and let them know how you feel about cuts to federal programs.