Analysis of American Taxpayer Relief Act

Posted on 01.04.13

Author: CCH

No Grand Bargain

The American Taxpayer Relief Act is nowhere close to the grand bargain as envisioned by the President and many lawmakers after the November elections.  Effectively, it is a stop-gap measure to prevent the onus of the expiration of the Bush-era tax cuts from falling on middle income taxpayers.  Congress must still address sequestration.  Congress is likely to revisit tax policy and spending cuts when it tackles the expected increase on the nation’s debt limit in Feburary…CCH Tax Briefing Special Report