Originally Posted by Deberg_1990
The bill avoids the fiscal cliff by making permanent the Bush tax cuts
for individuals making less than $400,000 per year and couples making less than $450,000 and by putting off the automatic spending cuts (sequestration) from last year’s debt ceiling deal until March.
Technically, those Bush tax rates had expired at midnight on Dec. 31, 2012 and the spending cuts were scheduled to take place when the government reopened following the New Year’s Day holiday.
As if anything is permanent from Washington DC.