The drop in funding, or fiscal cliff, means that the current level of service may not be supported by planned spending projections in the future, and that in order to maintain service levels, the City might have to reallocate or find new sources of funding.
Feb 22, 2024
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The fiscal cliff would have increased tax rates and decreased government spending through sequestration. This would lead to an operating deficit (the amount by ...
United States fiscal cliff
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The United States fiscal cliff refers to the combined effect of several previously-enacted laws that came into effect simultaneously in January 2013, increasing taxes and decreasing spending. Wikipedia
Fiscal Cliff: Meaning, History, How it was Fixed - Investopedia
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The fiscal cliff refers to a combination of expiring tax cuts and across-the-board government spending cuts that was scheduled to become effective Dec.
Dec 12, 2012 · The "fiscal cliff" is a term used to describe a bundle of momentous U.S. federal tax increases and spending cuts that are due to take effect at ...
Dec 15, 2022 · The Chicago region's transit system is currently funded by a combination of regional sales tax, funding from the state of Illinois, and revenue ...
Sep 27, 2023 · Many provisions in the 2017 Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. Policymakers will face significant ...
Nov 15, 2012 · Questions and answers on $500 billion in tax increases and across-the-board spending cuts scheduled to take effect after Jan. 1.
Jan 19, 2021 · The fiscal cliff is 5 tax increases and 2 spending cuts that were scheduled for January 1, 2013. It would have thrown America back into ...
The Fiscal Cliff Resource Page The United States faced a serious dilemma at the end of 2012 as a combination of steep tax increases and spending cuts were ...
Nov 1, 2023 · Though the federal government provided aid that prevented massive cuts during the pandemic's first two years, many transit agencies are now ...