Hanna: Tax Agreement “Adds Certainty”
Congressman Richard Hanna says "there's a lot to be happy about" with the deal that addressed tax issues important to individuals and business owners.
Speaking on WNBF Radio's Binghamton Now program this morning, Hanna said the "average person" in the Binghamton area would have wound up with a tax hike of $2,000 to $3,000 if the agreement had not been approved.
The Oneida County Republican said the congressional action makes some permanent changes to the tax code, including the marginal tax rates. He said that is helpful because it "adds certainty" for people who want to be able to plan ahead.
Hanna concedes there still are significant spending problems that must be tackled.
The congressman said the chaos that occurred in Washington in recent months was a "rather sad commentary on governance in general."
Hanna said he always believed marginal tax rates on the "very wealthy" would be increased. While "it's not going to fix anything," he said it's part of the "definition of fairness."
Despite the weeks of discussion that culminated in the House passage of the "fiscal cliff" deal late Tuesday night, Hanna said "it isn't over yet."
He said there'll be plenty of debate about raising the nation's debt limit and restructuring of the tax code.