News & Analysis as of September 18, 2024

Fiscal Cliff › Federal Budget

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Fiscal Cliff is a non-technical economic term used popularly to describe a series of tax increases and mandatory budget cuts set to occur at the beginning of 2013. The term "cliff" refers to the idea that such increases and cuts would be catastrophic to the fragile economy and consequently, force the economy off of a metaphorical cliff. less -

113th Congress Underway by Thomas J. Spulak

King & Spalding on 1/30/2013

The 113th Congress opened this week. In many ways, however, it began in the long shadow of the 112th Congress, which ended on January 3. Numerous issues were either left unresolved or only partially addressed, requiring...more

Estate Planning After the Fiscal Cliff Deal

Katten Muchin Rosenman LLP on 1/17/2013

Now that a deal averting the fiscal cliff has finally been reached, many of the tax and planning issues that have been mired in uncertainty for the past two years (and even longer in some cases) may be resolved. Numerous tax...more

Washington Insight - Special Edition: Congress Steps Away From Fiscal Cliff

King & Spalding on 1/11/2013

For months in Washington, and beyond, attention has been focused on the "fiscal cliff" -- the combination of the expiration of the Bush tax cuts and the looming budget cuts referred to as "sequestration." Negotiations led by...more

Late Action to Avert “Fiscal Cliff” Includes Several Health Policy Changes

Mintz - Health Care Viewpoints on 1/5/2013

As was widely expected over the month of December, the Obama Administration and Congress scrambled in the late hours of 2012 and on New Year’s Day devising a legislative package to prevent the United States from going over...more

Gift and Estate Tax Changes in the American Taxpayer Relief Act of 2012

Bradley Arant Boult Cummings LLP on 1/3/2013

On January 1, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “2012 Act”) that was passed by Congress during the past 72 hours, bringing closure to the main tax aspects of the so-called...more

Post-Fiscal Cliff: What the New American Taxpayer Relief Act Does and Does Not Do

Holland & Knight LLP on 1/3/2013

At midnight on December 31, 2012, the United States briefly fell off of the much-anticipated and highly publicized "fiscal cliff," with income tax rates rising on most taxpayers and a host of substantial spending cuts...more

Election Behind Us: Looking Ahead to the Fiscal Cliff and 2013

Cozen O'Connor on 11/9/2012

The balance of power in Washington remains intact: control of The White House and Congress remains as it was prior to the election. Notwithstanding that balance of power, we are NOT in a status quo political environment....more

An Update on Sequestration and Government Contractors

Smith Anderson on 10/23/2012

Overview. “Sequestration” refers to automatic federal spending cuts put in place by the Budget Control Act of 2011. The cuts go into effect January 2, 2013, unless Congress passes legislation to avoid that result. The...more

Are We Headed for the “Fiscal Cliff” of Sequestration?

Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/28/2012

Like Thelma and Louise in the movie of the same name driving their convertible over the cliff, or even more analogous, like a bunch of lemmings blindly following their leaders over the precipice, as a nation we may be headed...more

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Fiscal Cliff › Federal Budget

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