Local
10:18 am
Fri November 9, 2012

Higgins says fiscal cliff can be avoided

Now that the election is over, the national conversation has quickly turned to the "fiscal cliff." That's the term being used to describe the automatic spending cuts and tax increases set to take effect with the new year.

WBFO's Chris Caya talks to Rep. Brian Higgins about the "fiscal cliff."

If lawmakers fail to address the nation's soaring deficit, $1 trillion worth of cuts over ten years will kick in on January 2.

Congressman Brian Higgins is pushing for Lawmakers return to Capital Hill for a lame duck session Tuesday and House Speaker John Boehner has indicated he would prefer a quick fix so Congress can enact an all-encompassing solution next year.

The South Buffalo Democrat says closing the deficit will require both increased revenues and spending cuts.

"We have an obligation, as a nation, to provide an economy that grows. That growth has to be sustained in order to produce the kinds of good things that we want, and that is deficit and debt reduction and also making the kinds of investments that are necessary to keep American competitive in a global economy," Higgins said.

Those investments Higgins says should be made in science, education, and crumbling infrastructure. The recently re-elected congressman says a balanced bipartisan approach will send a positive message to the financial markets and certainty to American businesses.

"The economy does not respond to uncertainly and instability. We have an obligation to grow this economy, both Democrats and Republicans, and to move this nation forward," Higgins said.

Nation building at home, Higgins says, will not only move the country forward, it will help the U.S. compete against growing economies like India and China.