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t. e. 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.
e. Ron Paul is an American author, activist, and retired politician who served in the House of Representatives for twelve non-consecutive terms and ran for President of the United States on three occasions. His political views are generally described as libertarian, but have also been labeled conservative. [1] Paul's nickname "Dr.
The sequestration became a major topic of the fiscal cliff debate. The debate's resolution, the American Taxpayer Relief Act of 2012 (ATRA), eliminated much of the tax side of the dispute but only delayed the budget sequestrations for two months, thus reducing the original $110 billion to be saved per fiscal year to $85 billion in 2013. [11]
By Jeanne Sahadi NEW YORK -- If lawmakers cannot agree on how to address the pending "fiscal cliff," $7 trillion worth of tax increases and spending cuts will begin to go into effect in January.
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Rob Arnott, CEO of Research Affiliates, is a pioneer investor. He's changed the way people think about indexes, dividends, buybacks, and valuations more than perhaps anyone else in the past decade.
July 25, 2011: The bond market is shaken by a single $850 million futures trade betting on US default. July 29, 2011: The Budget Control Act of 2011 S. 627, [154] a Republican bill that immediately raised the debt ceiling by $900 billion and reduced spending by $917 billion, passed in the House on a vote of 218–210.
Three CBO deficit scenarios related to the American Taxpayer Relief Act of 2012 (ATRA) and the Fiscal Cliff. The blue line (August 2012 baseline) was the "current law" baseline, with tax increases and spending cuts that would take effect if laws were not changed.