Oklahomans keep eye on fiscal cliff talks

TULSA - Many Oklahoma small business owners are trying to figure out how a fiscal cliff deal could impact their bottom line.

 Lori Dreiling, co-owner of Fleet Feet Sports, a fitness retailer with two Tulsa locations, says she does not think the Senate's bill, which passed early Tuesday morning, will impact her business very much.

But she knows that could change if the legislation gets amended while in the U.S. House of Representatives.

Dreiling said she is not surprised that negotiations reached a stalemate.

"Unfortunately, that's Congress," she said. "It's unfortunate that both sides of the aisle can't come to an agreement."

Oklahoma's congressional delegation must also figure out what to do.

Oklahoma U.S. Senators Tom Coburn and Jim Inhofe voted for the last-minute fiscal cliff deal on Tuesday.

"While this deal to avoid the fiscal cliff is not perfect, Senate Democrats have caved to making permanent the Bush tax cuts for 99 percent of Americans," said Inhofe.

Much of the fiscal cliff deal's fate rests in the hands of House Republicans.

GOP members met with their leadership throughout the day on Tuesday.

Republican Representative Frank Lucas, of Oklahoma's 3rd Congressional District, spoke to 2News by phone.

Lucas said negotiations are wide-ranging inside the meetings.

Lucas said some members support the deal reached in the Senate, while others do not.

"You had members who said quite simply 'This is the best we can do to protect the American taxpayers, so let's pass it,' all the way to the other extreme of 'This is not a complete continuation of the 01-03 tax relief, therefore it's not acceptable.' You had from one extreme to the other," said Lucas.

Lucas said he supports part of the bill, especially the section extending the 2008 farm bill, which he said will keep dairy prices low, avoiding the so-called "dairy cliff."

As for which way he will vote, Lucas was unsure Tuesday afternoon, saying he was still reviewing the bill.

"Whatever we do, we need to respond quickly because if we don't respond in some straight forward fashion soon, the commodity and financial markets will open tomorrow after New Years Day and the potential is there for an impact on the entire economy, on all of us," said Lucas.