Five major industries affected by the fiscal cliff

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Updated: 1/03 1:03 am
WASHINGTON, D.C. – The fiscal cliff deal will take out more taxes from Americans' paychecks for five separate industries across the globe.

“The benefits are very, very big benefits. Concentrated for the special interests that get them, but the costs are spread among the entire American people,” Phil Kerpen, president of the American Commitment, said.

Congress said Americans will have to pay taxes for the television and movie businesses. These taxes add up to approximately $266 million and will be providing more jobs and travel.

Railroad companies such as Amtrak and Union Pacific will be riding on new train tracks, according to Congress.

According to officials, NASCAR drivers will race each other on new tracks paid for by taxpayer money.

Americans will have to pay taxes for mining companies such as Rio Tinto, according to Congress.

And lastly, other taxes will be reduced from Americans' wallets for rum in Puerto Rico. These taxes will help assist their economy, Congress said.
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