Arent Fox 2012 Federal Election Tax Analysis
Following Tuesday’s closely contested election, the prospects for tax reform in the 113th Congress are not immediately clear. What we do know is that Congress and President Obama will have limited time to contemplate the election results; they must immediately address the budgetary “fiscal cliff” as well as a constellation of expiring tax provisions. Most of the expired tax provisions can be addressed by Congress retroactively if an agreement is not reached during the lame duck Congressional session.
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