An Illinois congressman who is on his way out of office says he doubts there will be a resolution of the Fiscal Cliff before the end of the year.
“I think there’s no apparent movement. I think there’s very little chance that anything’s gonna be resolved before the 31st,” said U.S. Rep. Tim Johnson (R-Urbana)
Johnson, who has served six terms in Congress, will be leaving when the new Congress is sworn in on Jan. 3, 2013. He won re-nomination in the Republican primary this year, but then announced his retirement and withdrew from the election.
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Johnson says it is presumptuous to refer to the situation as a Fiscal Cliff. “I think frankly it’s more like a slope and I’m not even sure it’s that. I’m not suggesting we need to reach that point, and I would like to work together with both parties and with the president to a solution, but at the same time I think it’s a self-fulfilling prophesy to assume that the world’s gonna come to an end if we don’t have a specific agreement by the 31st,” he said.
Since there is no agreement yet, Johnson says it is not known how individual taxpayers or companies will be affected.