It is official.
The United States will officially go over the fiscal cliff, according to CNN news.
*Please periodically refresh as I update the story.*
One immediate effect will be the payroll tax to increase.
However, analyst are saying that there is wiggle room for some of the devastating effects that could result from the tumble.
The adjournment of the House of Representatives resulted from backlash at President Obama 's flippant attitude and criticism of Congress and the House during his press conference earlier this afternoon.
This information is yet to be confirmed by sources, however, CNN has stated the House will not vote to avoid missing the deadline.
Fox News and NPR have not reported the House adjournment or plans to adjourn without a vote.
Mitch McConnell is currently meeting with Senate Republicans presumably to inform of no House vote.
Dana Bash a reporter with CNN, is reporting the House will adjourn without a vote but the senate is almost to an agreement.
However, CNN seeming to skate the statement that the House is adjourning is now debating what the affects would be if the fall takes.
CNN has somewhat recanted some strength behind their report that Congress will not avoid a economic deadline that can potentially bring the United States back into a recession.
NBC News is saying that the House has not officially adjourned but have no plans to vote on any legislation for the remainder of the evening.
A live view of the senate floor shows an empty with no activity and C-SPAN reports "US House in recess; votes expected in non-'fiscal cliff' bills tonight".
C-SPAN has officially reported the House will not vote on the fiscal cliff.
Although the effects of some of the deals are economically scary, the likelihood of an agreement with retro-active dates is substantial.
Comments