Washington’s Lame Duck Session – 2012

American For Prosperity posts a Lame Duck Primer

The 112th Congress’s lame duck session presents several threats to economic freedom.  From billions in new and higher taxes to Congress going back on its agreement to finally reduce spending, the biggest fiscal issues are all in play right now.

Read more at: Americans for Prosperity.

Be sure to watch this informative video that lists each of the important legislative actions:

1) Make sure the Farm Bill expires as voted upon.

2) The Fiscal Cliff

  • AMT Patch – $119 Billion tax hike
  • ObamaCare Tax Hike – $23 Billion
  • The “Doc Fix” is a 20 hour algebraic formula that doesn’t work according to the Congressional Budget Office.
  • Going back to Clinton tax rates – $166 Billion
  • Death tax hits more individuals.

3) Sequestration – Make sure those $109 Billion in spending cuts traded away in the debt ceiling resolution actually come to fruition.

What to watch out for – Scrambling for new sources of revenue:

  • Carbon Tax
  • Internet Sales Tax

[youtube]http://youtu.be/9zlQhuOj7NM[/youtube]

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