Uncertainty for businesses when it comes to economy
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SYRACUSE, N.Y. -- Business leaders gathered in Syracuse for an annual business showcase are being told uncertainty lies ahead when it comes to the economy.
A top analyst for the cable news channel CNBC says those businesses could feel the impact if there is no deal by the end of the year to avoid the so-called "fiscal cliff" when a lack of a budget deal means mandatory spending cuts and tax hikes.
"You'll have the expiration not only of the Bush tax cuts from many years ago, at this point, but you'll have the payroll tax cut. And a concern that that sudden increase in tax burden, while it will be good for the deficit, because, of course, we'll start to take a lot more revenue in, will be bad for an economy that's really not growing very quickly," said CNBC Business Analyst David Faber.
The local business community was taking time to reward so-called "champions" at the showcase. A total of 241 companies that have helped to create more than 1,700 local jobs.