fiscal cliff


Although the tax agreement preventing the fiscal cliff has passed in both the House and Senate, Kentucky congressmen remain divided on the issue. In the Senate, minority leader Mitch McConnell who was heavily involved in the negotiations voted yes while small-government proponent Rand Paul voted no. Kentucky’s representatives in the House were also equally divided. Both Democrats Ben Chandler and John Yarmuth along with Republican Harold Rogers supported the tax increase on the wealthiest of Americans. Republicans Ed Whitfield, Brett Guthrie and Thomas Massie all voted against the measure.

From NPR: There are actually reasons to love the fiscal cliff. For one, it allows Congress to sell a tax increase as a tax cut. Want an explanation? Find it here.

U.S. Senate Majority Leader Harry Reid has said that Congress is on track to have no deal before the Dec. 31 deadline for the "fiscal cliff."

Kentucky’s junior U.S. Senator Rand Paul says he’d prefer to keep tax rates the same, but he’d vote for a partial increase to avert the fiscal cliff.  The republican hopes his party can compromise on cutting defense spending and democrats can compromise on entitlement reform to lower spending  enough to prevent a tax increase overall. But, if he’s pushed to the edge of the fiscal cliff he says he’d vote for a partial tax increase although it isn’t ideal. 

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Kentucky U. S. Senator Rand Paul says he expects any deal made to avoid the so-called Fiscal Cliff will include tax increases on the top 2 percent. The comments came at today’s Commerce Lexington Public Policy Luncheon. Paul says Democrats are likely to get some tax increase passed, but criticized their rationale.

From NPR: Tax experts say the upcoming fiscal cliff is really more like a pot of water getting ready to boil. The country won’t jump to its doom Jan. 1, the heat will just be turned up then. The experts say people won’t immediately be affected. The changes will come slowly, and probably won’t be noticeable until around the end of January.

Fort Campbell 101st Airborne Division Patch, wikimedia commons

If the Army’s 101st Airborne Division Commander knows what impact the upcoming “fiscal cliff” will have on the unit, he’s not saying. Major General James McConville leads the 24,000 soldiers in the 101st based at Fort Campbell.


A tax expert is warning state officials that Tennessee would be among the hardest-hit states if federal officials don't resolve the so-called fiscal cliff. Dr. Stan Chervin says states like Tennessee that depend heavily on sales taxes for revenue would feel the most stress if tax breaks are not extended. The Chattanooga Times Free Press reports Chervin is a senior research consultant with the state Advisory Commission on Intergovernmental Relation.

Barr Urges Temporary Fix for Fiscal Cliff

Nov 12, 2012

Sixth District Congressman-Elect Andy Barr says he'll get serious when it comes to cutting spending as Congress deals with the so-called "fiscal cliff." Barr made the remarks on KET's One To One with Bill Goodman this week. In the meantime, however, Barr urged members of Congress to create a temporary fix.


From NPR: With the election over, attention in Washington has turned to the nation's debt and deficit challenges — most immediately the looming fiscal cliff. That's the $600 billion worth of expiring tax breaks and automatic spending cuts set to start taking effect Jan. 1.