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Bookmark or Share- Fiscal Cliff: Meaning, History, How it was Fixed - InvestopediaThe fiscal cliff refers to a critical imbalance in the federal government's revenues vs. obligations, creating a looming budget deficit shortfall if Congress does not act quickly.
- What Is the Fiscal Cliff? | Council on Foreign RelationsThe "fiscal cliff" is a term used to describe a bundle of momentous U.S. federal tax increases and spending cuts that are due to take effect at the end of 2012 and early 2013.
- The ‘Fiscal Cliff,’ Explained - The New York TimesWhat is the fiscal cliff? A. The term refers to more than $500 billion in tax increases and across-the-board spending cuts scheduled to take effect after Jan. 1 — for fiscal year 2013 alone —...
- Fiscal Cliff Explanation and Causes - The BalanceThe 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.
- The Fiscal Cliff: A Primer - Tax FoundationThe fiscal cliff is the culmination of a decade of “temporary” tax and budget bills that have postponed resolution of key policy differences. Should the tax code be used to heavily promote income distribution or aim instead to raise revenue in the least distortive manner possible?
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