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Future Fiscal Policy Debates Loom on the Horizon

The fiscal cliff, an economically damaging set of tax hikes and spending reductions scheduled to begin in 2013, has been avoided (for now) and that is good news for housing in the short-run.

The enactment of H.R. 8, the American Taxpayer Relief Act of 2012, will extend permanently most, but not all, of the 2001/2003 tax cuts.

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Boomerang Kids and Insurance Coverage

With a slowly growing economy and a still sluggish job market, there has been a continued increase in children moving back home after having lived independently on their own. These so called “boomerang kids” are popping up more frequently and when this situation is managed improperly, it can cause serious tension in a family.

However,

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Five New Tax Increases to Help Pay for Health Care Reform

On January 1, 2013 five new tax increases took effect – all of them put into place to help pay for the nation’s health care reform.

According to the Joint Committee on Taxation, these new measures will raise $24.2 billion next year and more than $258 billion through 2019.

Let’s take a look at the changes:

 

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