Marie K. Lee, council director
The last-minute fiscal cliff package delayed deep, automatic spending cuts and did not address the debt ceiling, but it did contain several tax provisions important to manufacturers. The American Taxpayer Relief Act of 2012 provides some much-needed certainty with respect to the individual rates, but it does not solve many of the deep, underlying problems with the tax code that undermine the United States' economic growth and international competitiveness. It's possible that the deal killed the prospects for tax reform in 2013; however, tax reform needs to remain on Washington's must-do list for the year. Issues in Brief

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