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Have you heard about the fiscal cliff? If not, it's time for a quick explanation. It's big, it's important, and you need to know about it. If everything goes according to plan, Jan. 1 will cause ...
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.
The Cliff House is a neo-classical style building perched on the headland above the cliffs just north of Ocean Beach, in the Outer Richmond neighborhood of San Francisco, California. The building overlooks the site of the Sutro Baths ruins, Seal Rocks , and is part of the Golden Gate National Recreation Area , operated by the National Park ...
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.
Editor's note: A previous version of this article was unclear about the fiscal cliff's tax implications for Annaly's dividend. The Fool regrets the oversight. As the stock market continues to ...
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.
The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays ...