WASHINGTON, D.C.-- The so-called fiscal cliff gets closer and closer by the day. News Mississippi spoke with Congressman Steven Palazzo from Washington.
Palazzo elaborated a little bit about what options are on the table between President Obama and Speaker of the House John Boehner.
"Well, one option is to go off the fiscal cliff and we know that's unacceptable."
If that were to happen taxes would go up for all Americans.
"Option two is the President's plan. Of course the presidents plan increases revenues on our small business who costs us up to 710,000 jobs," added Palazzo.
And lastly he talked a little bit about the last option on the table in which the GOP hopes to get passed before falling off the cliff.
"We want to extend the tax cuts for 99.81% of americans and that's basically everyone that makes under $1 million dollars per year."
If you make over $1 million per year then it looks like it is inevitable that taxes will be going up for you.