Changes

The policy elements of the fiscal cliff include:  

The policy elements of the fiscal cliff include:  

* the expiration of the tax cuts enacted during the [[George W. Bush]] Administration.

* the expiration of the tax cuts enacted during the [[George W. Bush]] Administration.

* the automatic spending cuts (called [[sequestration]]) required by the 2011 budget compromise.

* the Presidential [[Executive Order]]s to force automatic spending cuts (called [[sequestration]]) required by the 2011 budget compromise.

* the federal borrowing authority reaching a Congressionally-enacted limit.

* the federal borrowing authority reaching a Congressionally-enacted limit.

* the reversion of the [[Alternative Minimum Tax]] thresholds to their 2000 tax year levels;

* the reversion of the [[Alternative Minimum Tax]] thresholds to their 2000 tax year levels;