Rep. Adam Schiff Incredulous at Potential of Going Over the Fiscal Cliff

Congressman Adam Schiff

Rep. Adam Schiff, representative of California’s 28th Congressional District, said on Thursday that House leadership is irresponsible in not returning to session to solve the fiscal cliff issue before the end of year deadline.

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Schiff released a statement indicating his concerns noting “With only days to go, I am incredulous that we have not been called back into session — and that the House leadership appears willing to let us go over the Fiscal Cliff. It is staggeringly irresponsible.

“Allowing the sequester to go into effect will have a severe negative impact on our still-recovering economy, safety net programs, and national security. I support a balanced long-term approach that reduces our deficit without adding any sudden shocks to the economy. We should be looking at a broad package to address the Fiscal Cliff and protect middle class tax cuts, raise revenues and reduce spending.

“Congress must return immediately and reach a responsible compromise.”

The “fiscal cliff” is a combination of expiring Bush Era tax cuts and broad government spending cuts scheduled to become effective Dec. 31, 2012.  At center of the fiscal cliff discussion are tax cuts passed by Congress under President George W. Bush’s leadership in 2001 and 2003. Those tax cuts included lower tax rates, as well as lower dividend and capital gains tax rates, and represent the bulk of components contributing to the fiscal cliff.

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