American Taxpayer Relief Act of 2012

E412569

The American Taxpayer Relief Act of 2012 is a U.S. federal law enacted to avert the "fiscal cliff" by making permanent most of the Bush-era tax cuts for lower- and middle-income taxpayers while allowing rates to rise for higher earners and implementing various spending and tax policy changes.

All labels observed (2)

How this entity was disambiguated

Statements (49)

Predicate Object
instanceOf United States federal statute ⓘ
tax legislation ⓘ
addresses alternative minimum tax (AMT) patch ⓘ
allowsToExpire Bush-era tax cuts for highest-income taxpayers ⓘ
alsoKnownAs Fiscal Cliff bill ⓘ
amends Internal Revenue Code ⓘ
changes estate and gift tax rates and exemptions ⓘ
congressNumber 112th United States Congress ⓘ
context United States fiscal cliff of 2012–2013 ⓘ
country United States ⓘ
datePassedHouse 2013-01-01 ⓘ
datePassedSenate 2013-01-01 ⓘ
dateSigned 2013-01-02 ⓘ
delays onset of certain sequestration spending cuts ⓘ
effectiveDate 2013-01-01 ⓘ
effectOnAMT permanently indexes AMT exemption for inflation ⓘ
enactedTo avert the fiscal cliff ⓘ
extends emergency unemployment insurance benefits temporarily ⓘ
incomeThresholdEffect higher rates for individuals above certain income levels ⓘ
higher rates for married couples above certain income levels ⓘ
interactsWith Budget Control Act of 2011 sequestration ⓘ
jurisdiction federal government of the United States ⓘ
maintains Bush-era tax cuts for lower-income taxpayers ⓘ
Bush-era tax cuts for middle-income taxpayers ⓘ
makesPermanent American Opportunity Tax Credit (with modifications over time) ⓘ
expanded child tax credit provisions ⓘ
expanded earned income tax credit provisions ⓘ
most Bush-era income tax rates for lower brackets ⓘ
passedBy United States Congress ⓘ
passedChamber United States House of Representatives ⓘ
United States Senate ⓘ
policyArea budget and spending ⓘ
economic stabilization ⓘ
taxation ⓘ
presidentAtSigning Barack Obama ⓘ
primaryPurpose extend Bush-era tax cuts for most taxpayers ⓘ
modify federal spending and tax policy ⓘ
raise tax rates on high-income taxpayers ⓘ
publicLawNumber Public Law 112-240 ⓘ
raisesMarginalRate top individual income tax bracket to 39.6 percent ⓘ
shortName ATRA ⓘ
signedBy Barack Obama ⓘ
subjectMatter alternative minimum tax ⓘ
capital gains tax ⓘ
estate tax ⓘ
federal income tax ⓘ
payroll tax ⓘ
sequestration ⓘ
unemployment insurance ⓘ

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Referenced by (4)

Full triples — surface form annotated when it differs from this entity's canonical label.

Title VIII Community Living Assistance Services and Supports → repealedBy → American Taxpayer Relief Act of 2012 ⓘ
113th United States Congress → enactedLegislationIncludes → American Taxpayer Relief Act technical corrections and follow-up measures ⓘ
linked to: American Taxpayer Relief Act of 2012
Additional Child Tax Credit → modifiedBy → American Taxpayer Relief Act of 2012 ⓘ
CLASS Act → repealedBy → American Taxpayer Relief Act of 2012 ⓘ