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How will the fiscal cliff affect Utah?

SALT LAKE CITY, (ABC 4 News) – Experts say there will be less federal money being spent in Utah and there will be less money in your paycheck.
SALT LAKE CITY, (ABC 4 News) – On Thursday law makers in Washington DC continued to discuss solutions to the so called fiscal cliff coming at the end of 2012.

Taxes could be going up and government spending going down but what does it really mean to Utah residents and local businesses.

“It is concerning. I don't know how much is in my control,” said Chief Operating Officer of Level 9 Sports Mitch Lamb.

As employees at Level 9 help customers shop, questions about the fiscal cliff linger in the mind of Lamb.

“I think there are a lot of unknowns out there. I think there's a lot of trepidation about what's going to happen and how it’s going to affect all of us,” said Lamb.

But according to Natalie Gochnour from the Salt Lake Chamber of Commerce, if we go over the cliff there is one thing that is for sure.

“It affects everyone in the country,” said Gochnour.

She describes that there will be less federal money being spent in Utah and there will be less money in your paycheck.

“I think the right way to think of it is the fiscal cliff takes money that's currently in our economy and removes it,” said Gochnour.

She tells ABC 4 a loss of federal money in Utah could be disastrous for the economy.

“This is a very serious issue,” said Gochnour.

And a loss of money in your pocket wont help you or local businesses like level 9 sports.

“So, it could potentially affect what they have in disposable income to come and spend on skies and outfit the family to get up on the mountain and have a good time,” said Lamb.

Now, it's a waiting game for a solution or to fall off the fiscal cliff.

“There are major ramifications if that happens for us on the business side,” said Lamb.


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