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The United States fiscal cliff refers to the combined effect of several previously-enacted laws that came into effect simultaneously in January 2013, increasing taxes and decreasing spending. The Bush tax cuts of 2001 and 2003, which had been extended for two years by the 2010 Tax Relief Act, were scheduled to expire on December 31, 2012.
24 Νοε 2020 · The fiscal cliff refers to a combination of expiring tax cuts and across-the-board government spending cuts that create a looming imbalance in the federal budget and must be corrected to...
19 Ιαν 2021 · The fiscal cliff is a combination of five tax increases and two spending cuts that were scheduled to occur on January 1, 2013. If Congress hadn’t taken action in time, taxes would have increased and government spending would have been drastically reduced in one day.
15 Νοε 2012 · What is the fiscal cliff? A. The term refers to more than $500 billion in tax increases and across-the-board spending cuts scheduled to take effect after Jan. 1 — for fiscal year 2013 alone —...
13 Νοε 2012 · The fiscal cliff is the culmination of a decade of “temporary” tax and budget bills that have postponed resolution of key policy differences. Should the tax code be used to heavily promote income distribution or aim instead to raise revenue in the least distortive manner possible?
9 Νοε 2012 · What Does the Fiscal Cliff Look Like? Here is an at-a-glance look at the $500 billion in government savings that will take place in 2013. Taxes are in BLUE. Spending is in RED. The pie, as...
15 Νοε 2012 · The so-called fiscal cliff describes the automatic tax increases and spending cuts due to take effect on 1 January, a combination which economists say would push the US into recession - with...
