U.S. Senator Richard Shelby (R-Ala.) today made the following statement regarding an agreement that has been reached in order to avoid the so-called "fiscal cliff" scenario:
"I do not support this agreement. Our economy needs spending restraint by the federal government and fundamental tax reform that eliminates corporate welfare and lowers individuals' rates. Instead, this package raises taxes, increases spending, and will lead to more borrowing. This deal is certainly no cure-all; rather, it falls far short of the measures necessary to promote job creation, economic growth, and fiscal stability."