Aberdeen business owners fear "fiscal cliff" - KSFY News - Sioux Falls, SD News, Weather, Sports

Aberdeen business owners fear "fiscal cliff"

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With more than 1,000 jobs created in the past year, the city of Aberdeen has seen economic growth throughout 2012.

The idea of a "fiscal cliff" approaching has many small business owners fearing the good fortune the city has experienced could be short lived.

The "fiscal cliff" could lead to job lay-offs or businesses having to close their doors.

One small business owner said, "I think we are very fearful of it because if there are extra taxes and extra rules for a small business owner, it is going to be tough for us to be in business."

"Next year," another owner said. "It doesn't look to be good."

Many of the businesses owners are concerned with how the new health care taxes could play out.  Some were unsure how they were going to pay for the increased taxes on employment health care, if administered. 

Although the decision about the pending tax increases is being made more than fifteen hundred miles away, Aberdeen business owners know their company and bank accounts will be affected.

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