Virginia Senators Waiting for 'Fiscal Cliff' Vote, Want Compromise
If lawmakers fail to reach compromise, sequestration would hit Northern Virginia especially hard.
While the potential loss of thousands of jobs and a devastating economic blow loom over the region thanks to sequestration, Virginia's senators can only wait and hope a workable compromise is reached before the new year. If such a compromise is not reached by Tuesday, a series of tax increases and spending reductions kick in automatically — taking the country over the so-called fiscal cliff. Some economists and politicians are concerned the combined effect will send the United States back into a recession. U.S. Sen. Mark Warner, a Virginia Democrat, told CBS News this week that at this point any deal that could be made would be relatively small. “I think there’s unfortunately only going to be a small deal,” Warner said. “… We have to …
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