"Fiscal Cliff" Could Mean $22 Billion More in Taxes for Pennsylvanians
Business owners say they are waiting to hire new workers or expand operations until the fiscal cliff is resolved by Congress.
By Eric Boehm | PA Independent HARRISBURG — Pennsylvanians will face billions of dollars in higher taxes unless Congress acts by the end of the year to defuse a threatening combination of tax increases and spending cuts contained in the so-called “fiscal cliff.” A recent report by the state’s Independent Fiscal Office, Pennsylvania’s version of the federal Congressional Budget Office, suggests the fiscal cliff would drain billions from Pennsylvania’s economy, putting a strain on state tax revenues and the state budget. Based on estimates from the Tax Policy Center, a nonpartisan think tank in Washington, D.C., the IFO projects the fiscal cliff will raise federal taxes by $536 billion — with about 4.1 percent of that total, or $22 billion, …
logansteele
9:34 pm on Wednesday, November 28, 2012
Well, not having a budget is what our leader does best. Next to playing golf. more ›