112th Congress closes session and averts “fiscal cliff”

Last Wednesday, January 2nd, was the last day of the 112th Congress. In their last hours, they passed HR 8, the American Taxpayer Relief Act of 2012, which was then signed by the President. This bill averts the “fiscal cliff” by extending tax cuts and delaying sequestration until March 1, 2013. Sequestration, or the automatic reduction of spending, would likely have had significant impact on public, school and federal libraries.

For more information, see the District Dispatch post. Although it is not yet known what the impact of this deal means for Maryland, this Gazette article provides some discussion.

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