January 2, 2013

Made the Tax System Fairer

The Obama Administration made permanent tax cuts for 98 percent of Americans as part of the bipartisan fiscal cliff agreement in January 2013, while allowing costly tax cuts to expire for those with the highest incomes — which will reduce deficits by more than $800 billion over the next ten years.

Dec. 28, 2012
“After returning early from his Christmas vacation, the President with the Vice President meets in the Oval Office with the leadership of Congress to discuss the fiscal cliff.” (Courtesy Barack Obama Presidential Library)

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