The U.S. House of Representatives passed a bill on Tuesday to avoid the so-called “fiscal cliff” — a combination of tax increases and spending cuts.
Sixteen Democrats voted against the measure, three of whom were from Oregon: Earl Blumenauer, Peter DeFazio, and Kurt Schrader.
In a statement, DeFazio said the deal “pushes the spending cuts back just two months, creating yet another fiscal cliff crisis that coincides with the debt ceiling limit.”
The package does not include a reduction in Social Security payroll tax. So, most Americans will still end up paying more in taxes this year.
Would the fiscal cliff have affected you? Will the compromise deal?
More Think Out Loud
OPB | April 16, 2015