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Transcripts For KGO ABC7 News 430AM 20130102

Congress have fixed the mess. What they passed is retroactive, 90 of americans will not see a change in tax rates. They finally got it done. Congress ended the long drama over the fiscal cliff with House Republicans passing the senate bill. I will sign a law that will raise taxes on wealthiest 2 of americans. It could have sent the economy back into a recession. It appeared the bill was headed for defeat. House republicans had not want to raise taxes without significant cuts. There is no spending cuts. Were adding 4 billion a day to the debt. We feel like the senate bill failed miserably. But republicans decided to the to lengthen the fight. What is the alternative . Go out 4 trillion of tax hikes for the american people, market uncertain. The bill shields people earning less than 400,000 a year from tax increases and extends Unemployment Benefits for roughly 2 million people. What it does not do is raise the socalled debt ceiling. In two months the government will reach its limit on b

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