Duffy believes federal lawmakers will work together to reach a resolution because, he says, it's too important not to reach an agreement.
"This fiscal cliff situation is a real one. It will plunge us into another recession ... we're not even out of the one we're climbing out of right now," Duffy said.
He says Washington shouldn't saddle Americans with additional financial burdens to begin 2013, especially in tough economic times.
"It is our hope and collective expectation that this will be resolved," Duffy said.
Duffy spoke Monday announcing the upcoming expansion project at Rich Products on Buffalo's west side.
Congress and President Barack Obama have until the end of the year to avoid tax increases and automatic spending cuts. White House and congressional aides say Obama spoke separately over the weekend with House Speaker John Boehner and Senate Democratic Leader Harry Reid.
Obama last met with bipartisan congressional leadership in mid-November.
In a new report Monday that coincided with the return of Congress, the White House warned that if lawmakers don't halt the automatic increases in taxes for households earning less than $250,000, consumers might even cut back their shopping ahead of time, during the current holiday season.