Senator Joe Manchin Introduces CALM Act

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Congress may not reach a deal before the Fiscal Cliff, but West Virginia Senator Joe Manchin is introducing a plan to make the fall a little easier.

His plan is called the CALM Act: Cliff Alleviation at the Last Minute.

Manchin says, "if we're determined to go over the cliff, we've got to do something to soften the landing, because at the bottom of the fiscal cliff are immediate and massive tax increases, deep and indiscriminate spending cuts, and the risk of another recession."

The measure would phase in tax hikes over the next three years instead of allowing them to hit immediately.

It would also prioritize programs to cut first, rather than an across the board cut.

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