0
Yes. Congress eventually reached an agreement as to tax rate changes as well as different spending and revenue changes.
Barack Obama gave several speeches as to his position on the 'Grand Bargain', emphasizing that he was re-elected on a campaign of raising taxes on the rich, after the Republicans tried to posture for a better deal.
The Bush era tax cuts for individuals earning less than $400,000 and couples earning less than $450,000 were made permanent. The top tax bracket was re-instated at 39.6% as opposed to the 35% during the Bush era.
The debt ceiling was raised by 2.1 trillion.
The payroll tax deduction of 2011 was scrapped, with rates rising to 6.2% from 4.2%
Itemized deductions were capped on high earners.
What else can I help you with?
What is the definition of fiscal cliff?
the definition of fiscal cliff has to do with the taxes and now, in December of 2012, Obama said that the wealthy will pay more
Is the fiscal cliff over?
The fiscal cliff is temporay over for the next two months
Has the president already signed the fiscal cliff bill?
Yes, Obama signed the bill on Wednesday, Jan. 2, 2012, the day after it was passed.
What are the release dates for Robin and Company - 2005 Fiscal Cliff Vote?
Robin and Company - 2005 Fiscal Cliff Vote was released on: USA: 1 January 2013
What does fiscal mean?
Fiscal usually relates to matters of financial stature. Fiscal could also relate to taxes and government issues. The use of the word fiscal can be combined in conjunction with fiscal cliff, fiscal year, fiscal deficit, fiscal policy and fiscal parish.
What are the release dates for Fox Business - 2007 Fiscal Cliff and the Auto Industry?
Fox Business - 2007 Fiscal Cliff and the Auto Industry was released on: USA: 30 November 2012
Will the fiscal cliff affect military pay?
Military pay is exempt from the spending cuts included in the "fiscal cliff." Other major programs exempt include Social Security, Medicaid and veterans' benefits.
Why is there a fiscal cliff?
Their is a fiscal cliff because the government/America is 16 trillion dollars in dept and we need to figure out away to pay off the dept. The fiscal cliff will bring in money by raising taxes or cutting government spending. At this point for the next two months the government has chose to raise taxes on the 2% that make 450,000 dollars a year.
What is cliff scaling?
Cliff scaling can be interpreted two ways. If someone is scaling the fiscal cliff, they are trying to manage cash flow so that cash does not run out. If a person is climbing a rocky overhang or the side of a mountain, they are cliff scaling.
What is the concept of the fiscal clifff?
fiscal cliff is the situation which U.S. government faced at the end of 2012 when the expiry of tax cut and across the board government spending cuts has reached. this
Hillary Biden and Obama were on a donkey at the edge of a cliff The donkey got spooked and jumped off the cliff Who was saved?
America !
Where will Obama be this Christmas 2012?
The Obamas generally spend Christmas in Hawaii, where the president was raised. But in December 2012, while they did go to Hawaii, the president came back early to be involved in Fiscal Cliff negotiations; his family remained in Hawaii for those few extra days of relaxation.
