4 January 2013 Report from Wooje Choi, IBFD North America The US President signed the American Taxpayer Relief Act of 2012 (H.R. 8) into law on 2 January 2013. A Statement announcing the signing was released on 3 January 2013 by the US White House. The White House has also released a Fact Sheet with a summary of the Act. The Congress enacted the Act to avert the fiscal cliff that would have caused higher taxes on the middle class due to the expiration of the Bush-era tax rates on 31 December 2012, and would have further caused automatic across-the-board spending cuts (known as "sequestrations"). The...