Fiscal 'cliff ' concerns locals - WFXG FOX54 Augusta - Your News One Hour Earlier

Fiscal 'cliff ' concerns locals

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AUGUSTA, GA (WFXG) -

The fiscal ‘cliff' brings much concern to the CSRA. FOX54 spoke to local officials and even to some members of Congress for answers.

City Administrator Fred Russell is one of many addressing his concern about the fiscal ‘cliff' but says Augusta is prepared. 

"You've got 200,000 people in Augusta that don't really know what's going to happen tomorrow," said Russell.  "We're pretty well braised, our local economy has done ok, the city itself has no debt so we don't have to worry too much about the interest rates there or anything at this point."

However, an over-arching question remains. 

"Eventually people are going to have to recognize they are going to have compromise on some things," said Russell.

A compromise that is still being negotiated. FOX54's Elizabeth Rawlins placed calls to Capitol Hill for a better idea of where Congress stands.

Congressman Paul Broun (GA-10) said the wait, is the Senate trying to make a decision. If nothing happens after midnight, Congressman Broun said there will be consequences.

"They are going to cause businesses to close, they are going to cause people to not be hired," said Congressman Broun. "With the increase taxes and the fiscal ‘cliff' as well as increased taxes from Obama care, those two things are going to put many people out of work in the CSRA." 

Later Monday afternoon, Senator Johnny Isakson told FOX54's Elizabeth Rawlins there is still a possibility to have a decision before midnight. Senator Isakson said Senate Minority Leader Mitch McConnell laid out the framework both sides may agree upon.

The chances of it happening, Senator Isakson believes is worth sticking around for.

"I wouldn't be here if I wasn't still confident that we could get it done,"said Senator Isakson. "If I didn't think we could get it done, I'd probably be headed home like everybody else but I'd say it's a 60 percent chance we will probably get it done tonight."

The Senate reached a compromise late Monday night and the House will vote on it today.

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