NEW YORK (CNNMoney) -- "American households face an average tax increase of $3,500 if Congress doesn't act to avert the fiscal cliff, according to a new analysis from the Tax Policy Center."
Few think, however, that Congress will let all the scheduled tax increases take effect. The current betting says lawmakers will let the temporary payroll tax cut expire but leave the majority of the Bush tax cuts in place and reinstate another so-called "fix" to the Alternative Minimum Tax so that it doesn't ensnare more than 20 million households this year and next. Political observers also expect the new health reform taxes will take effect as scheduled."
No comments:
Post a Comment