The Seven Things You Need to Know About the Tax Deal -The White House Blog
Last night, Republicans and Democrats in the House of Representatives
joined the Senate in passing the American Taxpayer Relief Act of 2012.
That means middle-class families won't see an increase in their income
tax rates. We've avoided the fiscal cliff.
White House Video - Obama
Praises Fiscal-Cliff Deal
President Obama will
sign the legislation soon. Last night, he described the agreement as, "one
step in the broader effort to strengthen our economy and broaden opportunity
for everybody.""Under this law, more than 98 percent of Americans and
97 percent of small businesses will not see their income taxes go up," he
said. "Millions of families will continue to receive tax credits to help
raise their kids and send them to college. Companies will continue to receive
tax credits for the research that they do, the investments they make, and the
clean energy jobs that they create. And 2 million Americans who are out of work
but out there looking, pounding the pavement every day, are going to continue
to receive unemployment benefits as long as they’re actively looking for a
job."
We know that that a
lot of people have questions about the deal, so we've pulled together some of
the most important facts. Here are the seven things you need to know.