"Fiscal Cliff" Could Put More Hardship on Middle Class Americans - Beckley, Bluefield & Lewisburg News, Weather, Sports

"Fiscal Cliff" Could Put More Hardship on Middle Class Americans

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Americans could be facing a steep tax increase if congress doesn't reach a deal to avoid the so-called "fiscal cliff".  

A study from the tax policy center showed that the average middle-income American family would pay 27-percent more in federal taxes next year if Congress doesn't extend the tax cuts that are set to expire at the end of the year. 

The center says 90-percent of Americans would pay more and the top 20-percent would take the biggest hit.