Not since the attempt to impeach President Bill Clinton in 1998 has C-SPAN been as popular as it was this past week as we watched the U.S. House of Representatives and Senate negotiate a deal to avoid the fiscal cliff, fight over emergency funds and bid farewell to certain members.
If you missed the coverage, you’ll be glad to know that California’s representatives have been right in the thick of the action, making colorful statements on the public record.
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While neither Republicans nor Democrats seem thrilled with the results of the deal resolving the fiscal cliff, transit commuters scored an unexpected windfall.
Included in the package of tax increases was the restoration of a commuter benefits program that allows workers to pay for up to $240 of their monthly transit costs with pre-tax dollars. Transit passengers could exempt up to $1,500 of their annual commute costs from taxes as a result of the legislation.
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When Barack Obama was first inaugurated as president in 2009, post-partisanship was the buzzword. But if the 2012 election did not quash the dream of politicians working together for the good of the country, the last-minute negotiations to save the country from the so-called fiscal cliff surely did.
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Just when education officials thought they could breathe easier with the passage of Proposition 30 last week, now the potential for billions of dollars in cuts from the federal government looms.
If Congress doesn’t act by Jan. 1 on a combination of spending reductions and expiring tax breaks, known as the “fiscal cliff,” K-12 education stands to lose $4 billion nationally.
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Celebrations of the outcome of Tuesday’s elections didn’t last too long before discussions of fiscal matters quickly rose to the fore. Financially, a superstorm is looming. And it was bound to affect each and every American regardless of whom we elected as president.
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URL: http://www.sfexaminer.com/topics/fiscal-cliff?quicktabs_1=0&quicktabs_6=1
