The congressman voted in favor of the Senate agreement.
Wednesday, January 2
Congressman Leonard Lance (NJ-07) today issued the following statement regarding House passage of the "fiscal cliff" compromise: “I voted in favor of the Senate agreement in large part because it provided the only option available to stop a scheduled tax hike that would have disproportionately affected New Jersey's small businesses, taxpayers, investors and working families and pushed our fragile economy deeper into recession. “This legislation permanently extends the Bush tax cuts for 99 percent of households. It permanently fixes the onerous alternative minimum tax (AMT), giving tens of thousands of hard-working, middle-class New Jersey families much-needed certainty in this area. And it extends through 2013 important small business …
The financial deadline looms in Washington, with no deal yet made. Check this primer, and share your questions and thoughts.
Thursday, December 27, 2012
With Christmas 2012 over, one reality check is the looming "fiscal cliff" deadline just a few days away. On December 31, tax cuts dating to the George W. Bush presidential term are scheduled to expire, and President Obama and congressional leaders have not reached a compromise. That means tax bills would increase for many middle- and upper-class taxpayers. And that means paycheck withholding for many workers would change, leaving them with less take-home pay in the new year. Apparently, though, there will be no immediate change in withholding tables, while the situation is unresolved. According to John Tuzynski, the IRS’ chief of employment tax policy, employers should continue to use 2012 withholding tables and personal exemption amounts …