Sherman family feeling pressure from looming fiscal cliff - - No One Gets You Closer

Sherman family feeling pressure from looming fiscal cliff


SHERMAN -- Patricia Alexander says she was devastated when she learned she was unable to conceive any more children.

"It was hard. I went through a lot of turmoil," she said.

That's when she and her husband Neal turned to adoption.

They're currently in the final stages of adopting two baby girls who've been living with them for the past year.

Adopting makes the Alexanders eligible to receive a $13,000 tax credit, money Patricia says she could put to good use.

But that $13,000 is now in limbo because a decision by Washington lawmakers to extend massive tax cuts and avert a fiscal cliff is coming down to the wire.

Doctor William Wallace, an economics professor at the University of North Texas, says if tax breaks aren't extended, it's families like the Alexanders who will suffer. He also says not extending the tax cuts will almost certainly send the economy spiraling into another recession.

The Alexanders say a decision from Washington can't come soon enough.