American Taxpayer Relief Act
American Taxpayer Relief Act of 2012
§ LEGISLATIONtax· 2013
What It Did
Permanently extended the Bush-era tax cuts for individuals earning under $400,000 and couples under $450,000, while restoring the 39.6% rate for higher earners. Made permanent the expanded child tax credit and earned income tax credit. Resolved the "fiscal cliff" standoff between President Obama and congressional Republicans.
The Vote
House · 257–167 (passage)
D
172 YEA · 16 NAY
R
85 YEA · 151 NAY
Senate · 89–8 (passage)
D
47 YEA · 3 NAY
R
42 YEA · 5 NAY
Key Sponsors
→ Harry Reid (D-NV) · Senate
→ Mitch McConnell (R-KY) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Gini Index (Inequality)
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Real Median Household Income
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Corporate Profits After Tax
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.