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William Perez

President Signs the American Taxpayer Relief Act into Law

By January 4, 2013

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President Barack Obama signed the American Taxpayer Relief Act into law on January 2, 2013. The full text of the new law can be found on Thomas at the Library of Congress under H.R. 8.

The White House also released the following statement,

"H.R. 8, the 'American Taxpayer Relief Act of 2012,' which makes permanent the temporary rates on taxable income at or below $400,000 for individual filers and $450,000 for married individuals filing jointly; permanently indexes the Alternative Minimum Tax exemption amount to the Consumer Price Index; extends emergency unemployment compensation benefits and Federal funding for extended benefits for unemployed workers for one year; continues current law Medicare payment rates for physicians' services furnished through December 31, 2013; extends farm bill policies and programs through September 30, 2013; and provides a postponement of the Budget Control Act's sequester for two months."

The White House also released a video and a seven-point chart highlighting certain details in the new tax law. The President also released a video statement on the new law. The President "signed the bill using an autopen, a mechanical device that copies his signature," reports the Associated Press.

 

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