Many US companies would put off hiring and spend less
Businesses are already jittery that a deal won’t be reached. As a result, companies have put off expansion and hiring plans.
Pictured, John Cooke, a tool maker with Pratville Machine & Tools Co. in Peabody, worked on a custom order. Vincent Spinali, the part owner and general manager of Pratville Machine & Tools Co., says that the federal governemnt's inability to resolve its budget issues regarding the fiscal cliff and set clear tax policies has slowed business to a crawl, forcing him to postpone purchasing new equipment. His business makes parts for semiconductors and the equipment that makes semiconductors. Read more.