Than 450,000, they escape any income tax hikes. Theite emized deductions are capped for anyone who makes 250,000 or more, or combined with 350,000. Estate taxes will go up, for inheritances over 5 million. Unemployment insurance is extended for a year, the alternative minimum tax will get a permanent adjustment for inflation. That, my friends is just the start of all of this. That is a 16. 4 trillion debt ceiling which is likely to stir up another ugly fight. President obama is already positioning. I will not have another debate with this congress over whether or not they should pay the bills that they have already racked up through the laws they passed. We cant not pay bills we have already incurred. If congress refuses to give the United States government the ability to pay these bills on time, the consequences for the entire Global Economy would be cat stenographic, far worse than the impact of a fiscal cliff. Lets bring in brianna keilar. A lot of people are talking about winners and losers, but cmon, i feel like were all losers in this, considering we didnt get a deal, we just got a patch. Reporter that is true. I dont think its ever really healthy for americans when youre kind of going through this process every year, whether its the a. M. T. Fix or tax cuts, so i think the fact that those tax cuts were permanently extended actually is a good thing, because it is difficult when they arent, but yeah, i think that you look at especially now the environment of things as this is a congress that the president wants to undertake other issues like Immigration Reform and gun violence, and you can see how it even maybe has a pleefover effect as they try to get their Business Done in a limited amount of time. The question is now that i hear that a fbomb was at the white house and i wont say whom, it doesnt sound like there will be a better tenor going forward. Is the white house actually considering this a victory . Reporter i will tell you, ashleigh, i think the white house considers how this fight went for them, the president was more effective than, say, during the debt ceiling. I think the tone we got during the debt ceiling was president obama was trying to position himself as a reasonable adult in the room, that he was trying to achieve somebody, and remember we saw him in the Briefing Room the day before this deal was sealed or the day before it passed the senate, and he was very hard on republicans. I think were seeing him taking a harder tack. I think that will continue into the fight over the debt ceiling. The thing that the whi house doesnt like is they feel like a lot of this stuff is so unnecessary. This isnt something that ultimately. He can put that he extended a tax cut for the middle class, and that should be considered an achievement for him, but dealing with the debt ceiling, these arent huge sweeping achievements he can say, look, i did something amazing. If its Something Like entitlement reform, tax reform, that might be an achievement, but patching these things that have become almost catastrophic things that could happen is, in their estimation, sort of a waste of time. Yeah, congratulations, we just didnt fail bigger. Its frustrating to have this conversation. That you you very much for that. Not only does congress have to deal with the debt ceiling next month. They also have to deal with the sequester, remember that series of cuts in federal spending that will reduce most budgets about 8 to 10 . Last nights deal basically kicked automatic that down the road. And then theres also the budget socalled continuing resolution, and congress has to pass another budget so that our entire government just doesnt shut down on us. If congress doesnt get its act together fast well be in a similar situation before we know it. The congressmanelect from florida joins us. My first question, sir, is are you looking forward for joining this group of legislators, given this despicable state of paralysis. This is a new congress im joining. The 112th congress, this is definitely disheartening, but its not a surprise. The new congress, about 90 new members, all elected on a message of bipartisan, so the freshmen i have met all want to do something big, we want to do the big choices, so im excited to join this congress. What do you consider one of the big choices . Everything will have to hurt. Where are you prepared to hurt . Youre right, it will have to be across the board. What we just did is a bain aid. Im very disappointed. We are continuing to kick the can down the road. Its just not right. Were not putting our children and grandchildren in a strong position. Unfortunately we have to look at cuts across the board. Well have to look at defense, some structural changes to some programs like Social Security and medicare, we have to look at fraud, waste and abuse. Im a cpa by training. I want to bring that training by congress and gull through every single line item. Cpa business is one thing, its real mathematical. What about the politics of it all. We saw republicans breaking ranksened add causing serious consternation. Are you prepared to break ranks with the democrats youre joining . Youre joining a lot of old dogs at this. Are you prepared to break away and saying this is not the way it should be done. The voters are paying attention. We won because of the support from the republicans, but voters are paying attention. I came to congress to do whats best for all americans. I know all that. I love hearing it, but i want to know where you think we can make painful cuts. Where are you going to show some leadership . Well, i just said it, i think well have to make some structure changes to programs such as Social Security, medicare, medicaid. You know, our president put that on the table about a year ago when this whole process began with the sequestration, so its going to be across the board. Revenues and look at some expenses that we have to cut. This is math. It shouldnt be partisan politics. It comes down to math. And do you have any optimism lets talk about the debt ceiling. Do you have optimism well be able to do anything differently that is what we saw transpire . Itches im optimistic about the new congress, about the 90 new members. Like i said, we are all elected, but what we saw the last few days is frustrating. We need new blood, new life, new energy. Im optimistic, but im going to keep fighting. And how do you feel about this notion there seems to be a congratulatory tone just to avoid armageddon . How do you feel about joining a group that effectively created a disaster and then didnt really even solve that disaster . There should be no congratulations in order. I dont want to say this is the worstcase scenario, but what just happened is not what should have happened. There would be no congratulations in order. We need to sit down almost from scratch and look at it with a fresh lens and get our traffic on the right track. You can look across the world, so many countries, you look at china, theyre slowing down, europe is in a radio session. South america has slowed down. America has a chance to become and stay the Global Leader for generations to come if we make the tough choices right now. You might have some tough choices to make on Hurricane Sandy, because boy oh boy theres a Storm Brewing there. Grant lace on the new job. Thank you. For more details on who will pay and how much tax, you can just go to cnnmoney. Com. So theres real outrage, i just mentioned it to the congressman. House leaders failed to vote on muchneeded aid for the people who sunday through this, Hurricane Sandy, its aftermath, its flooding. House republicans adjourned last night without acting on legislation that would have approved the money. A whole bunch of states waiting on this. The Senate Approved a 60 billion package last year. The house failure to vote on it threw really loud protests from lawmakers from new jersey, connecticut, new york. By the way, peter king just spoke with my colleague, cnns victor blackwell. Have a listen to this sweetheart. Absolutely devastating. What was most galling about this is within ten days of katrina, we gladly voted 60 billion. Its now nine weeks since sandy struck long island, new york, new jersey, a and we have not gotten a penny from the United States congress. We played by the rules as i said last night, governor christie, governor cuomo, we met with eric cantor, who by the way, kept his word throughout this, and the bill was drawn. We were promised that it would come up yet. We provided every penny of documentation, and the speaker of the house of representatives walked off the floor, didnt even give us a courtesy of a notice, told as ann so theres some dysfunction in the leadership, the speaker for some reason is taking it out on new york, long island and new jersey, Speaker Boehner is the one. He walked off the floor, refused to tell us why, refused to give under the circumstances any indication of warning whatsoever, and eric cantor met with us throughout the week, he devised the strategy how to bring it to the floor to make it acceptable to let the republicans who wanted to vote against parts of the bill, they could do that, but the bill was going to pass. The bottom line is here. The republican speaker walked off the floor without allows the vote. Im just saying these people have no problem finding new york, these republicans, when theyre trying to raise money. They raised millions in new york and new jersey. They send governor christie around the country. Im saying anyone from new york or new jersey who contributes one penny to the Republican NationalCampaign Committee should have their head examined. I would not give one penny based on what they did last night. I believe a true republican principle, but turning your back on people who are starving and freezing is not a republican value. I was chasing the House Speaker around the floor all night, and he kept saying wait until the fiscal cliff vote is over, and he refused to meet with us. He yelled at congressman lobianco saying im not going to meet with you people. He just decided to sneak off in the middle of the night. Those are strong words, and he said Speaker Boehner better not come to new york. Wow. Unbelievable. So with that in mind, how speaker may be getting that message. A senior aide has just told cnn that the speaker will make this his first priority, this hurricanes sandy relief bill, quote, in the new congress. That new congress is said to be sworn in tomorrow. T your erecti t your erecti you know, that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. Tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. Do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess with cialis. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, seek immediate medical help for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a 30tablet free trial. Meet the 5passenger ford cmax hybrid. When youre carrying a lot of weight, cmax has a nice little trait, you see, cmax helps you load your freight, with its footactivated lift gate. But thats not all youll see, cause cmax also beats prius v, with better mpg. Say hi to the allnew 47 combined mpg cmax hybrid. I want to turn to the city of newtown, connecticut. Sandy hook Elementary Students go back to class tomorrow. Theyre going to finish off the rest of this year at a school nearby in monroe, connecticut. Their old building now closed indefinitely after this horrid rend out shooting last month in which six teachers were killed and 20 students. In the wake of this newtown incident theres other news to report as well. Armed guards will be at every elementary middle and high school in marlboro, new jersey. Perhaps the sign of the times. Youre looking at live pictures at this hour. The announcement all because he wants the entire amount of the 60 million fine that penn state received from the ncaa, he wants that to stay in the state. That money was because of the Gerry Sandusky sex scandal, but only about 25 will be disbur disbursed. The slated 75 of the money to help child sex Abuse Victims again will be spend outside the state of pennsylvania. And then take a look at your video. Just remarkable. A sled going across the ice, and then the man falling through a frozen lake in rightwood, california. The tape was rolling. Thej people coming to the edge of thin ice, and you go through. Again well, you know how this ends. The ice stays thin, no matter how many people go on it. This became a calamity, but luckily, one of the people who had a rope they were able to get them out of the frigid waters. But remarkable. Take a listen to this. I ran up to the car, god the rope, ran back downed, uncoiled it, threw it out. I was coming up about seven feet short. At that point ear people started running cargo straps to the rope. I ran up to the top of the hill and called 911. That was mickey herman, who had the rope. People taking off their dry clothes and trying to help those people who were frigid in those waters. It took almost nine minutes. Just put your hand in an ice cold glass of water, see if you can keep it in there nine minutes. Anywhere now stating the lake will be closed until april. A Christmas Day to remember for a lot of those folks. Thin ice, stay off it. Back to the fiscal cliff for a minute. Theres a lot to get your head around. Theres politics, the legislation, the new tax code. Pretty thick stuff, but there are some extremely tangible things that will hit you, like if you get a paycheck. Chris teem romans joins me to talk about what every american needs to know. What will happened is you will be paying more to pay for Social Security. If i make 25,000 a year, its 42 a month. If you make 50,000, 83 a month. If you make 75,000 a year, 125 more a month. You get the picture. Thats real money thats maybe two tanks of gas, so the payroll tax will be a bite. So now, you know, you need to prepare your budget for that. The next three big things, i call them tli more fiscal cliffs. We may have averted uncertain doom, but we have three decisions to make. Everyone hears that term sequester, it just means huge spending cuts. We have the sequester, probably the beginning of january. Probably right at the same time you have the spending cuts, the sequest sequester, the debt ceiling, and the budget resolution. Thats through march. Break it down for me. Just to get through the sequester what will they have to deal with . Making decisions about cuts and about budget priors is what got us in this mess in the first place, quite frankly. I want to read something that one of the these analysts told us is so fascinating. Talking about the drama and the chaos around this. The process was so kay outic, were likely to see a further u. S. Downgrade, meaning there will be so many opportunities for washington to show us how they cant compromise and really get on a sustained path to, you know, budgeting. What is more fundamental at your house than the budget . What comes . What goes out, and the priorities that you make based on that budget, paying for college or paying for a new car . Paying for this or that . Paying down debt or getting a bigger house . Washington cant do that. Washington has shown it cant do that. Thats why International Investors but they are good at doing interviews im not singling anyone out, trust me. You dont have to. I know. Happy new year. You too. We have more to ta about later on. Wight a lot more coming up. Humans. Even when we cross our ts and dot our is, we still run into problems. Namely, other humans. At Liberty Mutual insurance, we understand. Thats why our auto policies come with accident forgiveness if you qualify, where your rates wont go up due to your first accident, and new car replacement, where, if you total your new car, we give you the money for a new one. Call. To talk to an Insurance Expert about Everything Else that comes standard with our base auto policy. And if you get into an accident and use one of our certified repair shops, your repairs are guaranteed for life. Call. To switch, and you could save hundreds. Born to make mistakes Liberty Mutual insurance. Responsibility. Whats your policy . So just quickly, a segment we ran about peter king livid with rep leadership over the failure to pass this relief package last night in congress that would have helped these victims. I mentioned he said boehner better stay out of new york. He wasnt actually suggesting the he was refer to hal rogers, who had made the argument that femas got enough money to hold this over, this problem for the Hurricane Sandy victims, at least for a cup the months. Peter ring was angry with roger and how roger better stay out of new york. He can suck up to the speaker if he has to, but he can stay out of new york, raise your money in kentucky, and a quick correct, and apology there. No shortage of Political Drama the same discord that led to the fiscal cliff in the first pla place, by Vice President biden and senator mcconnell crafted this and it got through. Roy blunt of missouri joins us, a member of the Senate Appropriations committee, vice charm of is the Senate Republican conference and also a m