The Jaco Report: Dec. 30, 2012

(KTVI)-On the Jaco Report, automatic tax hikes and deep spending cuts take effect Tuesday, New Year’s Day, morning. It is known as the fiscal cliff and it can be avoided only if Congress and the President agree. Democrats want taxes to rise on people making more than $250,000 a year. Conservative house Republicans refuse to raise taxes on anyone. So if we fly off the fiscal cliff, what does it mean to you?

Plus, St. Louis County Police Chief Tim Fitch talks about why he wants more guns in schools following the tragic Newtown, Connecticut school shooting.