[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Santa Clarita CA
Today in
S.C.V. History
March 21
1837 - Ysabel Varela born in Placerville; became second wife (and widow) of SCV landowner Ygnacio del Valle. [story]

Commentary by U.S. Sen. Dianne Feinstein
| Monday, Nov 19, 2012

With the election over, Congress must now confront several pressing issues. Foremost among those is the “fiscal cliff.”

Unless Congress acts, the new year will bring about spending cuts and tax increases that will remove $700 billion from the economy, shaving more than 3 percentage points off economic growth. Economists agree that, if left in place, this perfect storm of policy changes would result in recession. Here is what would happen if the nation goes over the fiscal cliff:

– The Bush tax cuts will expire, affecting not only individual income tax rates but also capital gains, the estate tax, education tax credits and other credits for low-income families.

– The current (lower) payroll tax rate will increase and extended unemployment benefits will end, cutting benefits for some 500,000 Californians.

– Many business tax breaks will end, including the R&D tax credit and accelerated depreciation.

– Medicare payment rates to doctors will plummet by nearly 30 percent, jeopardizing health care for seniors.

– Millions more families will fall under the Alternative Minimum Tax, raising their tax burden.

– A series of across-the-board cuts will take effect, slashing federal spending by $1.2 trillion over 10 years ($109 billion in 2013) and endangering more than 2 million jobs next year.

California would be hit especially hard. A study by Professor Stephen Fuller at George Mason University shows that these cuts would cost California 230,000 jobs – 135,000 from the defense industry and 95,000 from non-defense sectors.

Yet, indefinitely delaying spending cuts and revenue increases is not an option. We have a federal debt problem that must be addressed to avoid a fiscal crisis. Replacing the fiscal cliff’s front-loaded spending cuts and tax increases with a long-term plan would achieve the deficit reduction required to stop the growth in our federal debt while minimizing the short-term economic pain.

The Simpson-Bowles Commission offered a good framework in 2010 for addressing discretionary spending, tax reform and entitlements. Such an outline, which balances spending cuts and increased revenues, is the only way we can ensure long-term growth and bring our debt under control. My hope is that President Obama will work with Congress to quickly lay out a robust, long-term deficit reduction plan before we plunge over the fiscal cliff. Such a plan, coupled with a credible down payment to shrink the budget deficit, should demonstrate Congress’ willingness to address this problem and make sure our economy does not grind to a halt. I have met several times with Mark Zandi, chief economist at Moody’s Analytics. He developed a plan over the summer that I believe accomplishes these goals. The “fiscal cliff” would be scaled down by half, and those cuts would be narrowly focused rather than made across the board. They still would be split between defense and non-defense budgets.

The Bush tax cuts would be extended, but only for those earning less than $250,000. While middle-class families have suffered during this economic downturn, those making the most have seen their wealth increase. It’s time they pay their fair share.

We must make sure more families don’t fall under the Alternative Minimum Tax and eliminate scheduled cuts to Medicare payments for physicians to ensure seniors receive proper care. To encourage economic growth, we need to extend key business tax breaks. This will help create jobs and increase revenue. This plan would reduce the $700 billion in cuts to $320 billion, limiting the economic impact and avoiding recession. And it would give Congress time to debate and pass a more comprehensive plan.

The electorate made clear its desire for both parties to work together. Right now, there isn’t anything more important than making sure the economy continues to grow and create jobs. I look forward to working with my colleagues starting this week to accomplish just that.


Dianne Feinstein represents California in the U.S. Senate. Her commentary originally appeared in the San Francisco Chronicle.


Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.


You can be the first one to leave a comment.

Leave a Comment

Opinion Section Policy
All opinions and ideas are welcome. Factually inaccurate, libelous, defamatory, profane or hateful statements are not. Your words must be your own. All commentary is subject to editing for legibility. There is no length limit, but the shorter, the better the odds of people reading it. "Local" SCV-related topics are preferred. Send commentary to: LETTERS (at) SCVNEWS.COM. Author's full name, community name, phone number and e-mail address are required. Phone numbers and e-mail addresses are not published except at author's request. Acknowledgment of submission does not guarantee publication.
Read More From...
Friday, Mar 16, 2018
Quentin Kopp, retired judge and Bay Area politician, was once chairman of the High-Speed Rail Authority and helped sell the bullet train to voters. He’s now suing to stop it, saying, "The litigation, which is pending, will result, I am confident, in the termination of the High-Speed Rail Authority's deceiving plan."
Thursday, Mar 8, 2018
A wildfire stripped the banks of Placerita Creek of its thick, lush blanket of green – exposing thousands of shoots of the evil tamarisk.
Friday, Mar 2, 2018
In her March 2018 message, Mayor Laurene Weste outlines why Santa Clarita is a tech-savvy "smart city" and previews coming upgrades in street lighting, recycling stations and the local fiber-optic network.
Thursday, Feb 15, 2018
There was broad public support for the Desert Renewable Energy Conservation Plan, which struck a careful balance between lands available for large-scale renewable energy development and the environment. Now the federal government is rethinking it - putting the important and much-needed protections at risk.
Tuesday, Feb 13, 2018
You can prevent vision loss by finding and treating problems early. Medicare covers a glaucoma test once every 12 months for people at high risk for glaucoma
Wednesday, Feb 7, 2018
Sierra Club Angeles Chapter SCV Group Chair Sandra Cattell urges Santa Clarita Valley residents to contact their congressional representatives to push legislation to kill the Cemex mining project in Soledad Canyon.

Latest Additions to SCVNews.com
The Senate Education Committee gave a thumbs-up to Senate Bill 1009 (SB 1009), a measure to expand access to community college tutoring, according to California Senator Scott Wilk (R-Antelope Valley), who introduced the bill.
Wilk Community College Tutoring Bill Clears First Hurdle
Los Angeles County Fire Department firefighters doused a house fire in the 24700 block of Chestnut Street in Newhall Wednesday morning.
Firefighters Douse House Blaze in Newhall
The city of Santa Clarita is urging residents and businesses, specifically those living near the recent burn areas of Sand Fire in the Sand Canyon area, to take extra precautions and stay alert as heavy rains fall this week.
City Urges Residents to Take Precautions During Storm
1837 - Ysabel Varela born in Placerville; became second wife (and widow) of SCV landowner Ygnacio del Valle. [story]
The William S. Hart High School Wind Ensemble & Concert Band, as well as the Placerita Junior High School Advanced Band will be holding a Rich Musical Heritage Concert, Thursday, March 22 at 7:00 p.m.
March 22: Rich Musical Heritage Concert
If you think you have the right stuff, Blue Star Ranch is looking for volunteers.
Blue Star Ranch Seeking Volunteers
Comic books, comic strips, graphic novels and web comics often provide an escape from reality.
CSUN Professor Establishes Comic Studies Society
From Oklahoma! to The Sound of Music, American composer Richard Rodgers forever changed the face of Broadway musicals, giving them stories and making them oh, so hum-able.
The Soraya to Celebrate Composer Richard Rodgers
The Board of Supervisors unanimously approved a motion aimed at preventing foster youth from becoming entangled in the juvenile justice system, and ensuring supportive care for those do.
Supes Approve Motion Preventing ‘Dual Status,’ ‘Crossover’ Foster Youth
On Friday, March 23, CalArts alum Travis Wilkerson’s (Film/Video MFA 01) latest documentary, Did You Wonder Who Fired the Gun? screens at CalArts' Bijou theater.
March 23: CalArts Screening ‘Did You Wonder Who Fired the Gun?’
LOS ANGELES – As part of the team’s continuing celebration of 60 seasons in Los Angeles, the Dodgers will pay tribute to one of the most dramatic moments in baseball history by permanently marking a commemorative seat located in the area of the Right Field Pavilion where Kirk Gibson’s historic walk-off home run landed during Game 1 of the 1988 World Series. The “Kirk Gibson seat” is the first seat at Dodger Stadium to be marked in tribute to a historic event.
Dodgers Honor Kirk Gibson Homerun with Seat in Right Field Pavilion
Family Promise of Santa Clarita Valley, a non-profit that mobilizes community faith groups in the SCV to assist homeless families, recently announced that after six years at its current Resource Center, they are in need of finding a new site for its offices in order to provide services to homeless families.
Local Non-Profit Seeking New Office Site
Adonna Khare will demonstrate carbon art at the April 16 meeting of the Santa Clarita Artists Association (SCAA). This event is free, open to the public and meets at 6:30 p.m. at Barnes & Noble, 23630 Valencia Blvd.
April 16: Carbon Art by Adonna Khare
Santa Claritans will have an early spring celebration at the “Touches of Spring”, an art show featuring Zony Gordon, an award-winning local artist who will be showing from March 12- April 30, 2018 at the Art & Photo Gallery of Fast Frame in Valencia.
March 24: Zony Gordon Artist Reception
The ARTree Studio 2 will be holding an art exhibit by artist Six, called Food Memories beginning Friday, March 23 with an opening night reception from 6:00 p.m. - 10:00 p.m.
March 23-25: Food Memories Art Exhibit by Six
Here is a list of Santa Clarita arts-related events for March 22-24:
March 22-24: Santa Clarita Arts Calendar
Shoppers can find all what they need to make that special Easter Brunch this year by visiting the Santa Clarita Farmers Market located at the College of the Canyons, parking lot 5 on Valencia Boulevard. The market will be open on Easter Day and runs from 8:30 a.m. to noon.
Santa Clarita Farmers Market Open Easter Sunday
The Triumph Foundation's Wheelchair Sports Festival will take place on Saturday, April 28 from 9:00 a.m. - 5:00 p.m. and Sunday April 29 from 9:00 a.m. - 3:00 p.m.
April 28-29: Triumph Foundation’s Wheelchair Sports Festival
With significant rain moving across the area Tuesday through Thursday this week, there is a moderate to high risk of debris flows near recent burn areas.
National Weather Service Warns Residents of Debris Flows as Storm Approaches
The Santa Clarita Valley Senior Center will hold a Cyber Security: If It's Connected, It Must be Protected Presentation on Wednesday, March 21 from 10:00 a.m. – 11:00 a.m. in Rooms A1 and A2.
March 21: Cyber Security Presentation at Senior Center
The 2018 Spring Season Opener did not disappoint as it had drama tense moments 4 yellow cards a red card, player down with injury and the Storm settled with an even 2-2 draw.
Tense SC Storm Season Opener Ends in 2-2 Tie
Want to build your own social media empire, or just improve your social media presence? Learn from the best at SCV Startup Grind featuring Rachel Hollis, tonight.
March 20: SCV Startup Grind
This past weekend, all six William S. Hart district color guards participated in the mid-season contest, hosted at Valencia High School and sponsored by the Winter Guard Association of Southern California.
Hart District Color Guards Compete at Valencia High School
(Washington, DC) - On Tuesday, Rep. Steve Knight (R-CA) and Rep. Adriano Espaillat (D-NY) introduced H.R. 5337, the Accelerated Payments for Small Businesses Act of 2018.
Knight Measure Would Speed Up Payment for Small Business Contractors
2012 - County supervisors approve 50-year operating agreement for Placerita Canyon State Park [read]
The city of Santa Clarita Tourism Marketing District Advisory Board's next Regular Meeting is set for Tuesday, March 20 at City Hall starting at 2 p.m.
March 20: Tourism Marketing District Advisory Board Meeting
The Small Business Investment Opportunity Act, sponsored by Rep. Steve Knight (R-CA) and passed by the U.S. House of Representatives in 2017, has been introduced in the U.S. Senate by a bi-partisan group of Senators.
Knight Small Business Opportunity Act Introduced in Senate
The city of Santa Clarita's Planning Commission will hold its next Regular Meeting at City Hall on Tuesday, March 20 starting at 6 p.m.
March 20: Planning Commission Regular Meeting
The Master's University freshman track and field athletes showed great promise at the Ross and Sharon Irwin Collegiate Scoring Meet at Point Loma Nazarene University on Sunday.
TMU Track and Field Freshmen Shine at Point Loma
During Sunday's ninth inning, Master's came out on the wrong side — of a 5-4 final score at McBean Park in Lincoln and a three-game sweep.
TMU Baseball Squanders Grand Slam in Series Finale
The TMU Mustangs baseball team (17-12, 10-9 in Golden State Athletic Conference) was swept 9-1 and 5-3 by NAIA No. 7 William Jessup on the road Saturday.
Mustangs Baseball Drops Two to Jessup
"They'll be back," TMU men's basketball team's lone senior Lawrence Russell said after a 106-104 loss to Peru State College in the first round of the NAIA Division 1 National Championship tournament Wednesday.
TMU Men’s Basketball Team Eyes Another Run
Chandra Subramaniam spent his first week as the new dean of California State University, Northridge’s David Nazarian College of Business and Economics learning about the job and the people he’ll be working with.
Chandra Subramaniam is New Dean of CSUN’s Nazarian Business College
Santa Clarita Valley students, teachers, families and supporters will gather for a "March for Our Lives" rally at Marketplace Park in Valencia on Saturday, March 24, starting at 10 a.m., to demand an end to gun violence in schools.
March 24: SCV ‘March for Our Lives’ Rally to ‘Demand Safe Schools’
The Los Angeles County Sheriff's Department is expanding its S.H.A.R.E. Program in an effort to reduce reports of hate crimes and hate incidents throughout the county.
LASD Expands ‘S.H.A.R.E.’ Anti-Hate Program
Los Angeles County Interim Health Officer Dr. Jeffrey Gunzenhauser has extended a county beach use advisory through Tuesday night at 10 due to runoff from the recent rainfall.
Beach Use Advisory Extended Through Tuesday