Fiscal Cliff Notes An occasional series which breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.

Special Series

Fiscal Cliff Notes

Breaking down the looming 2013 "fiscal cliff" of expiring tax cuts and deep automatic spending cuts.

Wednesday September 5, 2012

Payroll Tax Holiday May Not Survive Year's End

The Social Security tax rate is scheduled to revert to 6.2 percent next year, up from the temporary reduction — to 4.2 percent on an employee's first $110,000 in wages — which has been in effect since January 2011. iStockphoto.com hide caption

toggle caption

iStockphoto.com

It's All Politics

Payroll Tax Holiday May Not Survive Year's End

September 5, 2012 • Since January 2011, the government has knocked 2 percentage points off the payroll tax, which funds Social Security. But there's little appetite to extend the tax holiday and a $95 billion price tag.

Payroll Tax Holiday May Not Survive Year's End

Listen · 2:40 2:40

Transcript

Download
Embed <iframe src="https://www.npr.org/player/embed/158771283/160588916" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Transcript

Friday July 27, 2012

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

President George W. Bush signs tax cut legislation on June 7, 2001. The cuts from this and a subsequent bill are set to expire at the end of 2012. Stephen Jaffe/AFP/Getty Images hide caption

toggle caption

Stephen Jaffe/AFP/Getty Images

It's All Politics

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

July 27, 2012 • About 80 percent of Americans would see their taxes go up if all the tax cuts signed into law by President George W. Bush were to expire as scheduled at the end of this year. And nearly 100 percent of the highest income earners would have to pay more — including both the Obamas and the Romneys.

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

Listen · 2:53 2:53

Transcript

Download
Embed <iframe src="https://www.npr.org/player/embed/157439557/157467266" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Transcript

Wednesday July 25, 2012

When It Comes To Tax Cuts, Neither Side Is Blinking

July 25, 2012 • Democrats and Republicans are going to the brink over tax cuts for the wealthiest Americans in a showdown that threatens to send the U.S. over a year-end "fiscal cliff." So what's at the heart of the impasse?

Tuesday July 17, 2012

Dissecting Federal Spending With An Eye On Cuts

Lawmakers have begun a debate on how to tackle the budget deficit, though Congress is unlikely to act until late this year. KAREN BLEIER/AFP/Getty Images hide caption

toggle caption

KAREN BLEIER/AFP/Getty Images

Planet Money

Dissecting Federal Spending With An Eye On Cuts

July 17, 2012 • Big automatic budget cuts slated for January 1 has spurred talk of spending cuts and other budget fixes. We revisit where federal spending actually goes.

Tuesday July 10, 2012

Bush Tax Cuts: The New Middle-Class Norm

Josh Walling and Randi Cartmill with their children, Jacqueline, Josh and Ryan. Josh Walling says his family, whose household income is below the national median, would lose a substantial amount of money if the Bush tax cuts expired. Courtesy of Randi Cartmill hide caption

toggle caption

Courtesy of Randi Cartmill

Bush Tax Cuts: The New Middle-Class Norm

July 10, 2012 • Much of the political focus when discussing the Bush-era tax cuts is on the wealthy, but they're not the only ones who would be affected if the tax cuts are allowed to expire at the end of this year.

Bush Tax Cuts: The New Middle-Class Norm

Listen · 3:27 3:27

Transcript

Download
Embed <iframe src="https://www.npr.org/player/embed/156493984/156533639" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Transcript