What The Fiscal Cliff Deal Means For Californians - Los Angeles News | FOX 11 LA KTTV

Saving the California Dream

What The Fiscal Cliff Deal Means For Californians

Posted: Updated:

Some Sacramento lawmakers say they're relieved that a deal has been reached on the "fiscal cliff."

Investigative producer Heidi Cuda reports that state budget experts say they won't know the full impact for weeks.

But here's what we do know:

-- Wealthy californians, who under Prop 30 just saw their state income tax go up, will now be paying an additional 5% in federal income taxes. That's if an indivudual makes more than $400,000 a year. For couples, it's $450,000

-- Those who are out of work will get some help. 400,000 unemployed Californians will likely see a one-year extension of their benefits

-- If you have a job, you can expect a 2% in your payroll taxes

Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices