Wednesday, January 2, 2013

Business News in the Lehigh Valley, 1/2/13

Happy New Year, Lehigh Valley! Now you just have to get used to writing 2013 instead of 2012... that always seems to be tough to get used to!

Last night, the House gave final approval to a bill that would rescind tax increases for the majority of Americans and avoid the much-discussed 'fiscal cliff' that would have taken effect otherwise. Income taxes will be raised on those earning $450,000 and more, and the amount of deductions they can take to lower their tax bill will be reduced. Though most Republicans voted against the measure, local GOP congressmen voted in support of it. Low temporary rates that have been in place for less affluent families for the past 10 years will remain in effect, but the payroll tax cut has expired. Find out with this calculator how much more you can expect to pay.

PPL electric customers can expect a slight increase in their 2013 bills, which will be about a 3% increase for the average residential user. The increase reflects higher maintenance and operating costs, including recovering from the devastating storms Irene and Sandy the region saw in 2011 and 2012.

Have you made any new years resolutions for 2013? Here's a list of 10 of the most popular; see if yours hits the list!

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