House Sends Fiscal Cliff Tax Relief Bill to the White House

Congress acted to pull the country back from the “fiscal cliff” when HR8 was passed by both chambers and sent to the White House for the President’s signature.

Fiscal CliffThe goal of the legislation is to avert the dire consequences from the confluence of expiring Bush-era tax cuts and the imposition of spending cuts enacted by the Budget Control Act of 2011.  Although Congress missed the January 1 deadline for action, lawmakers were determined to act before the U.S. stock markets opened following the New Year’s Day holiday. Continue reading