There was little change in Congress, as intense negotiations began after the election to deal with the "fiscal cliff" scheduled for January 1, 2013.
The impact of these changes has been referred to as the "fiscal cliff."
The Club also took a strong position against Republicans voting for tax increases during the debate over the so-called "fiscal cliff".
This became one of the important elements of the fiscal cliff.
Geithner was Obama's lead negotiator about the fiscal cliff and the increase in the 2013 debt limit.
This is one reason why the significant deficit reduction represented by the fiscal cliff was expected to result in a recession.
A number of laws led to the fiscal cliff, including these provisions:
The table below shows the dollar and percentage increase in income taxes for the 2013 tax year, if the fiscal cliff had taken effect.
Each piece of the fiscal cliff would have had varying effects on people at different income levels.
This does not affect the fiscal cliff or the debt-ceiling.