- Target:
- Goverment
- Region:
- United States of America
- Website:
- www.usa.gov
In the United States, the "fiscal cliff" refers to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit beginning in 2013 if existing laws remain unchanged.
The deficit—the difference between what the government takes in and what it spends—is projected to be reduced by roughly half in 2013. The Congressional Budget Office estimates that this sharp decrease in the deficit (the fiscal cliff) will likely lead to a mild recession in early 2013.
The laws leading to the fiscal cliff include the expiration of the 2010 Tax Relief Act and planned spending cuts under the Budget Control Act of 2011.
We want the U.S. government to stop the fiscal cliff and its recessionary consequences.
You can further help this campaign by sponsoring it
The Stop the Fiscal Cliff petition to Goverment was written by joe smith and is in the category Local Government at GoPetition.