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Cliff Notes: Thoughts on the Partial Fiscal Cliff Resolution Back to search results
Company: Principal Global Investors
Published: 11 February 2013
Business Area: US
Format: Portable Document Format (.pdf)
With the U.S. Congress passing legislation to avert the worst of the cliff's enormous tax hikes late in the evening of January 1, this would equate to a fall of only about 12 feet from the top of the tallest cliff in the world the Great Trango. Not a terrible fall, but with the U.S. having stared at a possible plummet of over 1.3 kilometers and Democrats and Republicans arguing over the only parachute, the relief at a deal - any deal - was palpable. The overall impact of the legislation is slightly friendlier than we had anticipated, though far from a perfect resolution, or the "grand bargain," that many had wished for. We will summarize some of the major features of the legislation and the potential impacts on economic growth for 2013 and beyond.
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