Tim Walz says he's willing to compromise on fiscal cliff deal


Democratic U.S. Rep. Tim Walz is apparently willing to compromise on a deal to avert the fiscal cliff, Minnesota Public Radio reports.

Walz, who backs raising taxes on incomes of $250,000, said he is willing to compromise on a deal that would raise taxes on income earners of $400,000 instead -- and has told GOP House Speaker John Boehner he will cooperate, MPR says.

The term "fiscal cliff" originated with U.S. Federal Reserve Chairman Ben Bernanke in February, who said before Congress that "a massive fiscal cliff of large spending cuts and tax increases" would occur Jan. 1, 2013, if a compromise on a long-term debt reduction plan wasn't reached.

Jan. 1 is when the George W. Bush-era tax rates will expire and $1.2 trillion in unpopular spending cuts over a decade are triggered, USA Today reports. The combined effect of that happening and a debt-reduction deal not being reached could land the country back in another recession.

Walz is returning to Washington on Sunday for a Democratic briefing, and he told MPR that's he's optimistic of a deal soon in the House. Walz also expressed confidence in a short-term farm bill extention that would keep dairy prices from spiking.

Among the other effects: As many as 12,000 Minnesotans are also at risk of losing their unemployment benefits is the congressional gridlock remains.

Next Up

prison, Rush City cell block

Former Army Green Beret and U of M student sentenced for Russian espionage

Peter Rafael Dzibinski Debbins, 46, was sentenced to 188 months in prison.

Miguel Sano

Miguel SanĂ³'s 8th inning blast ends Twins losing streak

The 5-4 victory over the A's snapped a five-game losing streak.

Thomas Humphrey, charged in vaccine thefts.

Viral videos of vaccine thefts lead to charges for MN anti-vaxxer

Thomas Edward Humphrey is a 32-year-old St. Paul resident.

Kyle Imdieke of Osakis, Minnesota.

Community rallies around family of MN coach who died suddenly

Kyle Imdieke was a beloved educator at Osakis High School.

Hinckley crash

Fatal crash that closed north I-35 caused when SUV crossed median

The incident occurred Friday afternoon one mile south of Hinckley in eastern Minnesota.

Screen Shot 2021-05-15 at 7.17.27 AM

Viral video: Customer argues with Menards worker over store mask policy

The incident happened in Buffalo on Thursday, hours after the CDC issued new guidance on face masks for vaccinated people.

Sylvia Fowles

Phoenix, Minnesota live up to the hype in WNBA opener

Diana Taurasi hit the game-winning shot with 1.1 seconds to play.

Josh Donaldson

Oakland smacks four home runs to extend Twins' horrific start

The A's handed the Twins a 6-1 loss on Friday night.


Spring Lake Park Hy-Vee to open by the end of May

A dozen Hy-Vee stores are now located in the Twin Cities metro area.

PXG Store Manager Derek Holmes Qualifies for the PGA Championship

Minnesota golf store manager qualifies for PGA Championship

No word if he'll have to burn some vacation days to play in the PGA Championship!