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Senator Johanns issues warnings regarding fiscal cliff
Nebraska Senator Mike Johanns warns that the consequences of inaction in Washington are severe and Nebraskans will not be immune.
The Republican Senator says if the fiscal cliff is not averted, the typical Nebraskan family of four can expect a tax increase of nearly $3300 next year.
He says, among other increases, about 139,000 families making more than $45,000 a year may be subjected to the Alternative Minimum Tax.
And the number of Nebraskans who take advantage of the Child Tax Credit, - more than 156,000 - would be cut in half.
The solution, Johanns says, must come from targeted spending cuts, an overhaul of the tax code, and reforming the programs that account for most of federal spending.
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