President Obama’s budget proposal for fiscal year 2013 provides details for many of the election-year priorities he has been laying out over the past months, including increased taxes on the wealthy and investments in new job-growth projects. The proposal includes $3.8 trillion in total spending and $2.9 trillion in revenues in 2013, leaving a deficit of about $900 billion. A New York Times infographic charts budget details like spending (labor, defense, and agriculture saw lowered funding; energy, education, and Veteran's affairs saw increases) and revenues (allowing Bush era tax cuts to expire and returning the estate tax to 2009 levels will save $968 billion; reforming the airline passenger fee will save $25 billion).
Obama’s Fiscal Platform (New York Times)
Related Regulatory Resources
For the first time ever, The Annuity Store is giving you INSTANT ACCESS to a 16 page, consumer facing report, that is designed to help you ease your clients’ uncertainty by presenting detailed solutions to these challenging concerns.
Each day 10,000 people are reaching retirement for the next 16 years. How well are they and you prepared?