JACKSON, Miss. -- Despite the looming year-end deadline to finish work that would avoid a fiscal cliff, Congress is still at an impasse over much you should pay in federal taxes.
Mississippi Congressman Gregg Harper (R) says the GOP has put forth a plan that would avoid any leap off that fiscal cliff. “Which is to continue these (current) tax rates, find your revenue in other sources, and do away, at least, with the year of sequestration while you work something out.”
But he says President Obama continues to insist that the two percent of America’s highest wage earners pay higher taxes. “So it is the President and (Senate Majority Leader) Harry Reid that are holding the country hostage – and the middle class hostage – over eight days worth of revenue. Which is all they get if they raise tax rates on the top wage earners,” Harper explained.
The 112th Congress was supposed to end today. But, Harper says they will be at work on Capital Hill next week trying to reach a compromise. Some key Congressional leaders say they expect this debate to move into the New Year.