In the coming months, rhetorical promises will increase and the likelihood of action to protect the economy will decrease. Congress and the president are headed into the election season without a plan to avert what has been deemed “the fiscal cliff,” which, according to a number of sources, may be behind the slow hiring and faltering recovery.
After the 20th Amendment to the Constitution was ratified, it created the possibility of lame-duck sessions. But now, Congress is putting off lots of work until after the election.
Today, ABC, CNN Money and The Daily have reported a Joint Committee on Taxation report examining the Paying a Fair Share Act, or the Buffet Rule named after billionaire investor Warren Buffet, may yield less in revenue than originally anticipated.
How is the economy like your refrigerator? If you’re not careful certain important provisions will expire. Our latest infographic takes a closer look.