Fiscal Cliff Research Articles

Sequestration Takes Aim at Federal Science Spending

The battle over the fiscal cliff is far from over for U.S. scientists.

Fiscal Cliff Deal Sets Up March Battle

RETURN TO ISSUEPREVNewsNEXTFiscal Cliff Deal Sets Up March Battle, , and Cite this: Chem. Eng. News 2013, 91, 1, 7Publication Date (Print):January 7, 2013Publication History Published online31 March 2014Published inissue 7 January 2013https://doi.org/10.1021/cen-09101-notw1Copyright © 2013 Chemical & Engineering NewsArticle Views6Altmetric-Citations-LEARN ABOUT THESE METRICSArticle Views are the COUNTER-compliant sum of full text article downloads since November 2008 (both PDF and HTML) across all institutions and individuals. These metrics are regularly updated to reflect usage leading up to the last few days.Citations are the number of other articles citing this article, calculated by Crossref and updated daily. Find more information about Crossref citation counts.The Altmetric Attention Score is a quantitative measure of the attention that a research article has received online. Clicking on the donut icon will load a page at altmetric.com with additional details about the score and the social media presence for the given article. Find more information on the Altmetric Attention Score and how the score is calculated. Share Add toView InAdd Full Text with ReferenceAdd Description ExportRISCitationCitation and abstractCitation and referencesMore Options Share onFacebookTwitterWechatLinked InReddit PDF (65 KB) SUBJECTS:Redox reactions,Sequestration Get e-Alerts

Fiscal Cliff Rescue: <I>Mount Rushmore is the Key</I>

The wisdom of Washington, Jefferson, Lincoln and Teddy Roosevelt is how Mount Rushmore can help us solve our Fiscal Cliff challenges. Those four urged us to have each generation pay its own debts, to think big and boldly, and to tell people the truth so they will unite and meet the nation’s need. Those themes are echoed by subsequent Presidents FDR, Eisenhower, Kennedy, Reagan and now Obama in his Audacity of Hope book. (See Exhibit A for the quotes.) This paper shows how we can follow their advice to solve the current crisis. The American people will embrace a proven safe and successful solution if we just tell them the truth about it. By thinking big and boldly and acting swiftly, the Baby Boomer generation can pay our own debts and immediately rescue America from the Fiscal Cliff.

Last-minute ‘fiscal cliff’ deal halts cut in SGR for a year

Last-minute ‘fiscal cliff’ deal halts cut in SGR for a year

An exciting new year ahead!

Now that we seemed have dodged the “fiscal cliff” – at least for a while, we can return our attention to other important tasks and issues. In thinking about “cliffs”, I always picture looking downward and seeing a dangerous fall. In contrast, there is a great deal on the horizon for the coming year that has many of us looking upward and forward. I wanted to take this opportunity to emphasize some of the exciting things that are coming up in the next few months within CPNP.

Fiscal cliff is bad news for US science

Fiscal cliff is bad news for US science

Estate vs. Capital Gains Taxation: An Evaluation of Prospective Policies for Taxing Wealth at the Time of Death

Debate over the U.S. federal estate tax has intensified recently as a result of the sunset provisions in the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 and changes in law passed in conjunction with the 'fiscal cliff' at the end of 2012. Despite recent changes in the law, there remains an open debate regarding the extent to which prospective estates comprise assets that have been taxed previously. Using wealth data on U.S. households, we forecast changes in household wealth in the coming decade and calculate the importance of untaxed wealth in bequeathed estates. Connecting further to the debate, we investigate the impact of various policies on U.S. households. In particular, we compare policies in which the entire estate is taxed at death (estate tax) to those in which only the unrealized capital gains portion is subject to tax (capital gains tax). We estimate that the average unrealized capital gains in estates monotonically increases with the size of the estate, ranging from 13% for estates under $2 million to 55% for estates over $100 million. We also find that policies aimed at taxing the entire estate raise more revenue than those aimed at taxing unrealized gains. However, policies that tax only gains concentrate a larger portion of the tax burden on high wealth households.

The fiscal cliff crisis and the real economic crisis in the United States

The fiscal cliff crisis and the real economic crisis in the United States

Industry Update: the Latest Developments in Therapeutic Delivery

The present industry update covers the period 15 September–15 October 2012, with information sourced from company press releases, regulatory and patent agencies as well as the scientific literature. In the world´s largest healthcare market, the USA, this time-period was dominated by the presidential election held in early November, with the future of the healthcare system being a significant part of the political discussion. Regardless of who emerged victorious in the US presidential election, the country’s healthcare system is set for further changes. Bloated spending on medical services is widely acknowledged and will receive further attention during the ‘fiscal cliff’, when taxes will rise and government spending will decrease, to reduce the trillion-dollar deficit. Any significant amendment to healthcare in the world’s largest economy will have undoubted far-reaching effects on pharmaceutical companies, medical device companies, hospital chains and managed care firms/health insurers. Due to this public discussion and the device sales tax introduced in the course of the Affordable Care Act, a number of manufacturers are already taking corrective measure, such as NuPathe (PA, USA) while others focus entirely on new drug launches such as Orexo (Uppsala, Sweden) and Dyamid Medical (Stockholm, Sweden). While Abbott announced its launch of the first ever bioresorbable stent, the USA was shaken by New England Compounding Center, which had to recall all compounded products due to a meningitis outbreak – this received significant media attention. Several successful clinical trials using drug device combination and nano-delivery solutions by Radius Health (MA, USA), OptiNose Inc. (PA, USA) and Fuizs Pharma (FL, USA) demonstrate the ever increasing convergence between classical pharmaceutical and device companies, which meet in the sweet spot of drug delivery.

Election Results Suggest Little Will Change on the Hill

Back to table of contents Previous article Next article Capitol CommentsFull AccessElection Results Suggest Little Will Change on the HillScott Barnes, and Nicholas MeyersScott BarnesSearch for more papers by this author, and Nicholas MeyersSearch for more papers by this authorPublished Online:21 Dec 2012https://doi.org/10.1176/appi.pn.2012.12b25While there was potential for the political climate in Washington, D.C., to look much different come January, very little changed on November 6. President Obama won a second term in an election that ended up not being nearly as close as late polls had suggested. And as the APA Department of Government Relations (DGR) predicted, the House of Representatives remains in Republican control, and Democrats remain in power in the Senate.Despite the numbers favoring Republicans this election cycle, with 23 Democratic seats up for reelection compared with just 10 Republican seats, Democrats were able to pick up two seats in the Senate, giving them a total of 55 in the chamber, which includes the two Independents who will be caucusing with the Democrats. Among the surprises was that the Democrats were able to win Senate seats in states that were long expected to go Republican, including Missouri, Indiana, and Montana. Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) will continue to lead their parties in the chamber.In the House, the Democrats picked up eight seats, making the party breakdown in the 113th Congress 234 Republicans and 201 Democrats. Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.) are expected to keep their positions in the new Congress.Two physicians were newly elected to Congress: Ami Bera, M.D. (D-Calif.), and Raul Ruiz, M.D. (D-Calif.), after both defeated Republican incumbents. There will be 18 physicians serving in the House come January, 15 Republicans and three Democrats. There are three physicians in the Senate, all Republicans.APA’s political action committee, APAPAC, contributed more than $300,000 to candidates in the 2012 election cycle, split evenly between Democrats and Republicans in both chambers. Of the candidates supported by APAPAC, 97 percent won their races in November.With Congress and the White House remaining under the same control as prior to the election, it is difficult to imagine Washington operating more smoothly in the 113th Congress than it did in the last one. While the leaders of both parties are publicly acknowledging the desperate need for bipartisanship, neither side wants to give in. As we are seeing with the “fiscal cliff” negotiations, it appears at press time as if it will take a last-minute deal to avert the consequences of inaction. While reforming Medicare’s sustainable growth rate formula is a top priority for APA and other physician organizations, it is just one of many major issues on a long list Congress must attend to before January.DGR will continue to advance APA’s legislative agenda in the new Congress, strengthening relationships with key members and educating new members on our issues, specialty, and patients. We will continue to rely on APA members for grassroots action. Members of Congress and their staffs must hear from psychiatrists in the field; there is no one better to deliver our message. If you are not yet a member of APA’s Grassroots Network, sign up today at http://www.psychiatry.org/. Your participation is vital to our success in the legislative arena. ■Scott Barnes is director of APAPAC and deputy director for political affairs and grassroots; Nicholas Meyers is director of APA’s Department of Government Relations. ISSUES NewArchived

Economic Coordination and Dynamics: Some Elements of an Alternative “Evolutionary” Paradigm

According to the latest forecasts, it will take 10 years for the world economy to get back to “decent shape”. Some more critical estimates suggest that the whole western world will have a “colossal mess” within the next 5–10 years. Regulators of some major countries significantly and over a short time‑period changed their forecasts for the worse which means that uncertainty in the outlook for the future persists. Indeed, the intensive anti‑crisis measures have reduced the severity of the past problems, however the problems themselves have not disappeared. Moreover, some of them have become more intense — the eurocrisis, excessive debts, global liquidity glut against the backdrop of its deficit in some of market segments. As was the case prior to the crisis, derivatives and high‑risk operations with “junk” bonds grow; budget problems — “fiscal cliff” in the US — and other problems worsen. All of the above forces the regulators to take unprecedented (in their scope and nature) steps. Will they be able to tackle the problems which emerge?

World Economy: Prospects and Barriers for Recovery

According to the latest forecasts, it will take 10 years for the world economy to get back to “decent shape”. Some more critical estimates suggest that the whole western world will have a “colossal mess” within the next 5–10 years. Regulators of some major countries significantly and over a short time‑period changed their forecasts for the worse which means that uncertainty in the outlook for the future persists. Indeed, the intensive anti‑crisis measures have reduced the severity of the past problems, however the problems themselves have not disappeared. Moreover, some of them have become more intense — the eurocrisis, excessive debts, global liquidity glut against the backdrop of its deficit in some of market segments. As was the case prior to the crisis, derivatives and high‑risk operations with “junk” bonds grow; budget problems — “fiscal cliff” in the US — and other problems worsen. All of the above forces the regulators to take unprecedented (in their scope and nature) steps. Will they be able to tackle the problems which emerge?

Little to cut in gas and electric industries for fiscal cliff

AbstractTo avoid the fiscal cliff entirely, Congress needs to eliminate a deficit of roughly $6.8 trillion over ten years.1 This will require spending cuts and revenue enhancements.

Table of Contents

AbstractMental Health Community Faces Pitfalls Even Beyond the ‘Fiscal Cliff’Agency Tailors Integrated Care to Diverse Asian PopulationsCEO: Care is Driving Planned Merger of Florida AgenciesTurning Point's Surprise Grant Enables Several ExpansionsAgency Builds Rapport with Challenging Clients through ArtBriefly NotedState NewsCall for ApplicationsComing up

"Fiscal cliff" threatens to impede biomedical discoveries

Scientists fear that automatic cuts in funding for the National Institutes of Health, set to kick in at the start of 2013, will harm research and patients.

Beyond The Patent Cliff

A cliff. It is a handy geographic metaphor for an impending deadline with perilous consequences. For example, all eyes are on Washington, D.C., this month as the White House and Congress confront the fiscal cliff, an end-of-the-year deadline for budgeting that will trigger a slew of automatic penalties if an agreement cannot be reached. But that isn’t the only precipice around. For the pharmaceutical industry, the last days of 2012 will mark the end of the patent cliff, an approximately 18-month stretch during which major drug companies lost exclusive rights to many billion-dollar-selling drugs. The cliff could be seen coming for a long time. Indeed, efforts to mitigate the expected loss in profits kicked in years ago as drugmakers struggled to invent and commercialize replacement blockbuster drugs. As, one by one, those efforts failed, the industry turned to more creative ways of going over the cliff and surviving. They shifted ...

U.S. Fiscal Cliff and U.S. Agriculture

U.S. Fiscal Cliff and U.S. Agriculture

Restrained Empire'?: The Fiscal Cliff and the US Rebalancing Strategy, January 2011-May 2013

Restrained Empire'?: The Fiscal Cliff and the US Rebalancing Strategy, January 2011-May 2013

Shying Away From The Fiscal Cliff

As the country digested the results of the 2012 elections, the focus in Washington, D.C., quickly turned to averting the so-called fiscal cliff, a series of tax increases and automatic budget cuts scheduled to take effect at the start of 2013. As C&EN went to press, President Barack Obama was set to meet with congressional leaders from both parties. Negotiations concerning taxes and deficit reduction have been stalled for a year, but since the elections, both sides have offered conciliatory remarks. Such comments will be put to the test as Congress reconvenes for a lame-duck session that will target averting the fiscal cliff. “I believe this is solvable. I think that fair-minded people can come to an agreement,” Obama said at a Nov. 14 press conference. “I won’t pretend that figuring out everything else will be easy … but I know that’s what the American people want us to do.” ...

Speak Up for Science Funding

The U.S. elections are over, and sitting policy-makers must turn their attention urgently to the “fiscal cliff,” a perfect storm of budget landmines laid by Congress and two administrations that threaten to go into effect in early January. Congress and the president must rapidly make hugely important decisions about the debt limit, the expiration of Bush-era tax cuts, and possible draconian across-the-board budget cuts in defense and nondefense accounts known as “sequestration.” Business leaders and other interests are rallying to force action, alarmed that cuts will be directed at them. Those not heard from will probably have the most to lose. It is simply not enough that scientific societies and advocacy organizations speak up. It is essential that every member of the science and engineering community personally convey to policy-makers and the U.S. public the great importance of strong science funding to the future of the country.