NEENAH — With no sign of a fiscal cliff agreement in sight, President Obama sought out opinions from a new group Tuesday. He met with a bipartisan group of governors, including Wisconsin's Scott Walker.
“As governors, we think that it's important that we have a seat at the table," said Walker.
Seven governors – three Republicans, four Democrats – met with President Obama Tuesday morning in the Roosevelt Room. The meeting was closed to the press.
Speaking to the press outside the White House, Walker and other members of the National Governors Association's Executive Committee urged those in Washington to think about how the "fiscal cliff" may impact states.
"We're not elected to fix all the problems in Washington,” said Walker. “The president and the members of Congress are here to do that."
"We talked about some of the issues that we often focus on as governors,” Governor Jack Markell, D-Del., explained to the press gaggle, “like opportunities for flexibility in terms of some of the programs we partner with, with the federal government."
The so-called "fiscal cliff" is the combination of expiring lower tax rates sending them back to Clinton-era levels and sudden federal spending cuts. And without a deal, both will take effect in January.
"This would be a good lesson, I think for everybody in Washington," said Walker.
Governor Walker and his counterparts say they've put their differences aside to help those in their respective states.
"We're here to offer a resource in a way that can help not just our state governments, but the people we represent in each of our states," said Walker.
Financial experts: No deal means uncertainty
First National Bank – Fox Valley president Peter Prickett says he doesn't believe the U.S. will fall into a recession as some economic pundits argue if a fiscal cliff deal isn't done. But believes it can impact business growth if people are spending less to offset paying higher taxes.
"Most of my business customers are what's called a 'Sub S' corporation,” said Prickett referring to the
IRS business listing of companies who report business income and losses on their personal tax returns and are assessed at their individual income tax rates.
“If they're fairly successful, that's going to be a big chunk out of what they'll have to pay to the government, which is that much less to invest in new equipment or new employees."
Prickett says the biggest problem he sees, as arguing sides try to come to a deal with as the “cliff” gets closer and closer, is the uncertainty of a deal getting done.
"However (the fiscal cliff) goes, it probably will be a good thing because at least we'll have some certainty," said Prickett.
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