Fiscal cliff negotiations hit home for local businesses, student workers
Small businesses were saved from most automatic tax increases from the fiscal cliff thanks to a last minute deal from Congress, but some local stores and working students still might face increased taxes. If no deal had been made by the midnight deadline on Jan. 1, 97 percent of small businesses would have been hit with the tax increases. MSU economics professor Charles Ballard said most economists believe that without the deal, the economy would have plummeted further into a recession.





