Fiscal Cliff
On November 16, 2012, the US leaders announced that President Barack Obama (D) met with House Speaker John A. Boehner (R-Ohio) House Minority Leader Nancy Pelosi (D-Calif.) Senate Majority Leader Harry Reid (D-Nevada) and Senate Minority Leader Mitch McConnell (R-Ky.) "to discuss" the plan "to work on" a plan "over the weekend" "to create a plan" that would be ready to present the week of November 26, 2012 concerning the fiscal cliff.
On January 1, 2013, Congress passed the American Taxpayer Relief Act of 2012 to avert the fiscal cliff and the next day President Barack Obama signed the Act into law. (Public Law No: 112-240) The "fiscal cliff" deal was primarily enacted to avoid automatic tax hikes and spending cuts, but also included provisions extending portions of the United States farm bill for nine months through September 30, 2013. Reid has demonstrated a commitment to working on a new five-year Farm Bill by reintroducing last session's Senate Farm Bill in the new 113th Congress.
Read more about this topic: Political Positions Of Harry Reid
Famous quotes containing the word cliff:
“And from a cliff top is proclaimed
The gathering of the souls for birth,
The trial by existence named,
The obscuration upon earth.”
—Robert Frost (1874–1963)