Skip to main content

Peterson calls fiscal cliff deal 'a joke'; Kline takes heat for backing it

  • Author:
  • Updated:
    Original:

Political and economic reaction is coming in now that Congress has steered the country away from the fiscal cliff.

Minnesota's Congressional delegation voted along party lines with two exceptions. Democrat Collin Peterson of the Seventh District voted against the bill. Peterson tells the Associated Press the measure that Congress approved is "a joke" that not only fails to reduce the federal deficit, but will add an estimated $4 trillion to the national debt. Peterson says the bill sends the message that Americans are not willing to pay their bills, something he does not believe is true.

On the Republican side of the aisle, Second District Rep. John Kline voted in favor of the bill. Kline says it contains the largest tax cut in American history and provides relief for small businesses and middle class families. That's already fueled some backlash from conservatives. One group called called Kline's vote inexplicable and disappointing and suggested in could engender a primary challenge in 2014.

As for the dollars and cents of the deal, accountants tell Finance & Commerce a number of tax credits extended by the bill will save businesses tens of thousands of dollars. A tax break on equipment purchases that was originally part of the economic stimulus package is now extended through next year. Credits for research and development, hiring low-income workers, and building affordable housing also gained new life.

In the medical world, doctors are happy that the bill fended off a 26 percent cut in the reimbursements they get from Medicare. But the Rochester Post-Bulletin reports hospitals are upset that they will pay much of the cost of preventing that cut.

Next Up

Semi into house near Sturgis, South Dakota

Semi drives into house near Sturgis, South Dakota

The force from the semi was so strong that the foundation of the house was moved.

ambulance

18-year-old from Zumbrota dies in Goodhue County crash

The crash happened in rural Goodhue County around 8:45 a.m. Wednesday.

thomas beach, bde maka ska - lake calhoun

3 Minneapolis beaches closed due to E. coli contamination

No illnesses have been reported, according to the MPRB.

Hockeyland1

'Hockeyland' documentary debuting in Minnesota movie theaters

The documentary has received great reviews at numerous film festivals.

Flickr - police lights squad siren - Edward Kimmel

Former Minnesota Olympic runner accused of driving drunk in Eden Prairie crash

Police said the man's blood alcohol level was three times the legal limit.

ATV

Man, 79, killed in ATV rollover near Faribault

The man was declared dead at the scene.

minneapolis police

Woman fighting for her life after shooting in Minneapolis

The woman was shot only about a half-hour after a 14-year-old suffered critical injuries in an apparent accidental discharge.

prior lake high school

Two students face discipline over racist messages at Prior Lake High School

Families and students were largely uncooperative with the investigation.

Sharon and Herb Vasser

Cause of Hopkins house explosion that killed couple revealed

Sharon and Herb Vassar were killed in the explosion. Herb built the home back in 1962.

Arrows on target

Charges: Minnesota camp counselor fired arrows at kids, injuring boy

An 8-year-old boy was shot in the arm with an arrow.

North Shore Mayor Chris Swanson.

Two Harbors votes overwhelmingly to recall Mayor Chris Swanson

The mayor had been scrutinized for several things leading up to the vote Tuesday.

Screen Shot 2022-08-10 at 8.43.50 AM

Suspected gunman at large after homicide near Albert Lea

The 32-year-old suspect was last seen in a 2004 white Ford F-150 with Minnesota license number EUZ-057.

Related