COLUMBUS, GA (WTVM) - The so-called fiscal cliff has been averted and new legislation is headed for President Obama's desk.
For now, the bill will avoid the major tax increase and government spending cuts scheduled to take effect with the new year.
The measure raises tax rates on incomes more than $400,000 for individuals and $450,000 for couples.
We spoke with a local taxpayer who believes this will be a benefit in the long run.
"The increase in taxes will benefit in the long run for lower income people I think, but the higher income people are always going to be mad, you know, so you're not going to be able to satisfy a lot of the people all of the time," said Jamar Anthony of Columbus, GA. "But, you know, it's more about if you got it, you have to be able to give a little bit more, and if you don't have it - it's all about trying to get more of it."
After addressing the nation, the President headed back to Hawaii to be with his family. He's said when the bill gets to his desk, he will sign it.
Be sure to tune in tonight at 5 and 6 p.m. EST when News Leader 9's Dante Renzulli will have more on this story.