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?
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OPB | Feb. 22, 2017