VPR- Congressman Peter Welch speaks with reporters in his Burlington office Monday before returning to Washington. “Up to this point there has been no negotiation,” he says. “It’s been an all-or-nothing approach.”
As the lame-duck Congress reconvenes Tuesday, Congressman Peter Welch is outlining his priorities for the session. But Vermont’s lone congressman is skeptical a deal will be reached to avert what is being called the looming fiscal cliff.
If the economy were to go over the so-called cliff, economists say we could be looking at another recession. And the Congressional Budget Office has said increases in taxes for everyone and across-the-board spending cuts would delay any economic growth. Democrats want to end Bush-era tax cuts above $250,000, which are set to expire, but Republicans oppose any increase in tax rates and want to cut entitlement spending like Medicare and Medicaid.