Tax cliff looms as tax cuts expire year end
Washington AP notes a Tax Policy Center study warning large tax rises if 2012 Bush-era cuts lapse. Middle income families could owe about 2000 more, top 1 percent face 120000 plus, with total revenue exceeding 500 billion. Fiscal cliff feared amid spending cuts and policy split.
MENTIONED IN THIS ARTICLE
Washington
Tax Policy Center
Barack Obama
Eric Toder
Obama
House
The
Urban Institute
Brookings Institution
Economic recovery tied to election winner and fiscal cliff
Economists say a robust recovery hinges on solving the year end fiscal cliff issue. Washington must avert steep budget cuts and broad tax increases. Outcomes depend on whether Obama or Romney leads negotiations with Congress, shaping growth, unemployment and the 2014 and 2016 political landscape.
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Jared Bernstein
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Obam
Ethan Harris
Bank of America Merrill Lynch
Polk County
Des Moines
Iowa
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