Transition 2012
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President Obama signed the American Taxpayer Relief Act of 2012 (also called the "fiscal cliff bill") into law on January 2, 2013. [Editor's Note: Click here for more CFR 2012 resources examining the foreign policy and national security dimensions of the presidential transition.]
According to the Press Secretary statement, the American Taxpayer Relief Act of 2012 "makes permanent the temporary rates on taxable income at or below $400,000 for individual filers and $450,000 for married individuals filing jointly; permanently indexes the Alternative Minimum Tax exemption amount to the Consumer Price Index; extends emergency unemployment compensation benefits and Federal funding for extended benefits for unemployed workers for one year; continues current law Medicare payment rates for physicians' services furnished through December 31, 2013; extends farm bill policies and programs through September 30, 2013; and provides a postponement of the Budget Control Act's sequester for two months."
