'Fiscal Cliff' approaching soon

SPRINGFIELD, Mass. (WWLP) - Congress has about seven weeks to come to some compromise in order to avoid the so-called ' fiscal cliff.'

On January 1st, a package of spending cuts and expiring tax cuts will go into effect to begin chipping away at the deficit and it means your taxes will go up. If you're paying higher taxes, you'll likely spend less, which is bad news in a recovering economy. One Springfield woman told 22News her family is already struggling as it is, and she hopes it doesn't get harder.

“You put certain people in office because you want to support them thinking they have the best interest for you. I understand that you sometimes don't all come to an agreement but at the end of the day you have to do it for everyone else who's waiting for you,” Lorena Recca said.

President Obama is inviting congressional leaders from both parties to the White House next week for talks on how to avoid the fiscal cliff.