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The Fiscal Cliff and the Dynamics of Income


Abstract: At the end of 2012, certain income tax policies were set to end and others to become effective. Central among these was the planned expiration of the 2001 and 2003 tax cuts (the ?Bush tax cuts?), which had been extended for two years in 2010.

Keywords: Income tax; Fiscal cliff;

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Provider: Federal Reserve Bank of Chicago

Part of Series: Chicago Fed Letter

Publication Date: 2014

Issue: Apr

Order Number: 321