Inside The Fiscal Cliff Budget Compromise Bill: Tax Cuts and Tax Hikes
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The budget compromise bill that is meant to allow the U.S. government to avoid higher tax rates and austere budget cuts has tax rates as its central issue, with discussions about more spending cuts, and the federal debt limit, put off until the coming weeks. Now that NPR and other organizations have had some time to look at the compromise, we can list some of the proposed effects contained in the Senate bill that the House began considering Tuesday. This list isn't exhaustive — we're including links to other analysis below. But here's some of what the proposed deal would do: Extend tax cuts for income below $450,000 (couples) and $400,000 (single filers) Above those thresholds, raise the income tax rate from 35 percent to 39. 6 percent, while capital gains and dividends rates go to 20 percent, from 15.
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Organization: Committee for a Responsible Federal Budget
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Source URL: Inside The Fiscal Cliff Budget Compromise Bill: Tax Cuts and Tax Hikes
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Inside The Fiscal Cliff Budget Compromise Bill: Tax Cuts and Tax Hikes
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The Senate-approved budget compromise that is meant to allow the U.S. government to avoid higher tax rates and austere budget cuts has tax rates as its central issue. We list some of the bill's effects, from tax credits to rising rates.
Source URL: Inside The Fiscal Cliff Budget Compromise Bill: Tax Cuts and Tax Hikes
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