What Is The "fiscal Cliff"? A Q&a

A combination of tax increases and spending cuts scheduled to go into effect in January 2013 could have a huge impact on your wallet and the economy

Topics:  january   
BING NEWS:
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    A program that provides free legal representation to low-income renters facing eviction has saved Connecticut millions of dollars, a new report says.
    01/17/2025 - 9:54 pm | View Link
  • 65-year-old found dead on beach may have fallen from steep cliff, California cops say
    A 65-year-old was found dead after he likely fell off a cliff in California, officials said. On Jan. 14, a bystander called the Mendocino Volunteer Fire Department and reported a man on the beach who ...
    01/17/2025 - 6:13 am | View Link
  • David Greising: Taxpayers deserve to know just how much governments fattened themselves on federal COVID-19 money
    COVID-19 money was supposed to go to one-time expenses, not to adding positions and programs that would continue long after the aid was gone.
    01/16/2025 - 10:00 pm | View Link
  • Regional Transportation Authority warns of fiscal cliff, asks for more power over Chicago area transit
    The agency said the Chicago Transit Authority, Metra, and Pace suburban buses will face a $770 million budget deficit and potentially drastic service cuts next year.
    01/15/2025 - 11:04 am | View Link
  • Redding teen seriously hurt after falling down a cliff near Sacramento River, police say
    A Redding teenager got more than he bargained for when he climbed a safety fence to see how steep a Redding cliff really was, according to police.
    01/15/2025 - 3:50 am | View Link
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BING SEARCH:
  • United States fiscal cliff
    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.
    01/16/2025 - 9:14 am | View Website
  • Fiscal Cliff Explanation and Causes
    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.
    01/13/2025 - 7:41 pm | View Website
  • Fiscal Cliff
    The fiscal cliff refers to a situation favoring and indicating the occurrence of economic contraction and recession due to the combined effect of tax cuts nearing expiration and reduced government spending.
    01/12/2025 - 9:15 pm | View Website
  • Lawmakers Face Budget Crunches, Tough Decisions to Close Expected ...
    A three-year Florida forecast released in September showed that, absent corrective actions, the state will face a deficit in fiscal 2027 that will grow to nearly $7 billion in fiscal 2028. Although the state has approved a mix of spending increases and tax cuts in recent years, the looming prospect of deficits could lead to austerity moves.
    01/12/2025 - 6:59 pm | View Website
  • Fiscal Cliff: Meaning, History, How It Was Fixed
    What Is a Fiscal Cliff? Fiscal cliff is a term coined to describe a rare combination of expiring tax cuts and government spending cuts that was perceived as threatening U.S. economic...
    01/11/2025 - 9:09 pm | View Website
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