Tentative Deal Reached on 'Fiscal Cliff,' But No House Vote Before Deadline
"This is one Democrat that doesn't agree with that at all," Iowa Democratic Sen. Tom Harkin said of the tentative deal. "No deal is better than a bad deal, and this looks like a very bad deal, the way this is shaping up."
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Failure of Congress to act on a tax measure would trigger income tax hikes on all Americans. The average family would pay an extra $3,446 in 2013 under the higher rates, according to the Tax Policy Center.
Regardless of the "cliff," virtually all workers were due to see less in their paychecks starting in January when a temporary 2 percent payroll tax cut will expire.
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