Nightly News   |  December 07, 2012

Washington bickers as ‘fiscal cliff’ looms

Small business owners are especially worried about a potential increase in taxes that could force them to shut their doors in 2013. NBC’s Kristen Welker reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> today on the so-called fiscal cliff, when a reporter asked house speaker john boehner if he would be opened to compromise on raising the top tax rate perhaps to 37%. he didn't come right out and say no. and vp joe biden says he is looking at talks on how much it should go up.

>>> and for small business owners, they're sweating the possible changes and are tired of waiting for an answer, our report tonight from nbc's kristen welker.

>> with washington still fighting?

>> it is time for the president to be serious.

>> reporter: less than ten miles away , there is uncertainty over the lunchtime rush at goody's pizza in northern virginia .

>> it will affect us a lot.

>> reporter: this is called mama goodies, bought eight years ago. along with their sons and daughter in law, they work 120 hours every week to squeeze out a profit, which is why they're watching washington so closely.

>> i think they should not for get about the little guy.

>> reporter: if the tax cuts end, their taxes would increase by more than $4,000.

>> we may not be able to run our operation if we have to pay that much more.

>> reporter: you're worried you may have to close your doors?

>> yes, definitely, that is always a possibility.

>> reporter: and it is not just small businesses , economists are worried. most agree if we go over the fiscal cliff the combination of tax hikes and spending cuts could send the economy back into recession. others say that is just what the economy needs for long-term stability. back at goodies, frustration with washington is something everybody seems to agree on.

>> you have to talk with each other. and they're not, they're not behaving, they're just saying, my way or the highway.

>> i wish we could resolve the issue and stop the partisanship.

>> reporter: a feeling shared by mama goody. what message do you want to give to lawmakers right now?

>> for them to make the right decisions and make them quick, don't sit around and waste everybody's time waiting.

>> reporter: their plan to expand next year is now on hold as they wait for washington to act. kristen welker, arlington, virginia.