The tax law changes – commonly referred to as the “Bush tax cuts” – are scheduled to expire on January 1, 2013. If Congress fails to extend them, many Americans will experience a tax increase. Many are skeptical that Congress – which has not moved on extending the cuts in two years – will take action before the presidential election. Some believe that once the election is over, Congress will not have the political will to make changes to the tax code.
Read more here – http://uspolitics.einnews.com/247pr/304358
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