Obama: 'The hour for immediate action is here' - KYTX CBS 19 Tyler Longview News Weather Sports

Obama: 'The hour for immediate action is here'

Posted: Updated:

WASHINGTON D.C. (KYTX) -- President Obama raised the level of hope for a solution to the fiscal cliff issue after making a national address Friday afternoon.

"The hour for immediate action is here. It is now," the President said. "We're now at the point where in just four days every American's tax rates are scheduled to go up by law."

Obama said there has been movement from both sides on creating a joint bill that would prevent the average family from seeing a $2,000 or $3,000 dollar tax hike in the new year.

CBS 19 talked with local financial experts about what any solution could mean for East Texans.

"[We think it will be] a year of continued recovery," Brandon Johnston, First Vice President of Investing for Wells Fargo Advisors in Tyler, said. "A year in which we should see moderate returns in the financial markets."

"What I try to do is reassure and remind people that change is inevitable," Mandi Monk of Rogers & Monk said.

"A number of things will change after some resolution comes to pass," Joel Adams, Vice President of Southside Bank Investment Services said. "And part of that is tax rates [will likely still go up]." 

Obama said he expects a vote by early evening on Sunday.

  • Local NewsMore>>

  • Capital Murder defendant Calvert wheeled, unwilling, into district courtroom

    Capital Murder defendant Calvert wheeled, unwilling, into district courtroom

    Thursday, August 21 2014 3:48 PM EDT2014-08-21 19:48:16 GMT
    TYLER (KYTX) -- James Calvert was wheeled into Judge Jack Skeen Junior's courtroom Thursday afternoon in what appeared to be a catatonic state and seemingly restrained as deputies balanced him on a wheelchair while supporting his legs.More >>
     TYLER (KYTX) -- James Calvert was wheeled into Judge Jack Skeen Junior's courtroom Thursday afternoon in what appeared to be a catatonic state and seemingly restrained as deputies balanced him on a wheelchair while supporting his legs.More >>
  • Officer Involved Shooting Suspect's Mom Speaks Out

    Officer Involved Shooting Suspect's Mom Speaks Out

    Wednesday, August 20 2014 11:13 PM EDT2014-08-21 03:13:22 GMT
    LONGVIEW (KYTX) - Hope Fountain says the shadow of recent events has covered up who her son really was."You'll never replace those hugs and those smiles. He would always be there for you no matter what." - Hope Fountain, Wagner's MotherGregg County Jail Records show that Wagner has a violent past but Fountain says he has regretted his crimes since the day they were committed. In 2013, Wagner plead guilty to terroristic threats of a public servant. Fountain says Wagner was going through a roug...More >>
    LONGVIEW (KYTX) - Hope Fountain says the shadow of recent events has covered up who her son really was."You'll never replace those hugs and those smiles. He would always be there for you no matter what." - Hope Fountain, Wagner's MotherGregg County Jail Records show that Wagner has a violent past but Fountain says he has regretted his crimes since the day they were committed. In 2013, Wagner plead guilty to terroristic threats of a public servant. Fountain says Wagner was going through a roug...More >>
  • Rick Perry warns ISIS may already be in the United States

    Rick Perry warns ISIS may already be in the United States

    Texas Gov. Rick PerryTexas Gov. Rick Perry
    (National Review Online) -- ISIS terrorists may already be in the country, Governor Rick Perry (R., Texas) warned, saying that the terrorists' own version of “mission creep” will draw them from Iraq to the United States.More >>
    (National Review Online) -- ISIS terrorists may already be in the country, Governor Rick Perry (R., Texas) warned, saying that the terrorists' own version of “mission creep” will draw them from Iraq to the United States.
    More >>
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.