THE FISCAL CLIFF AND WHAT IT MEANS FOR YOU
Payments to Medicare providers would be reduced
A 2 percent cut worth $11 billion in Medicare payments to providers would be imposed. Pictured, a large rally was held outside the Citi Performing Arts Center in Boston on Nov. 9 to protest proposed cuts to Social Security, Medicare, and Medicaid.
John Tlumacki/Globe Staff/ File
- Choose another
- What is the fiscal cliff?
- Why are we headed for the fiscal cliff?
- The Bush tax cuts would expire
- Middle-income family would see their taxes increase by $2,000
- The alternative minimum tax would be imposed on more Americans
- The payroll tax cut would expire
- Many tax credits would be eliminated
- Payments to Medicare providers would be reduced
- Social Security tax cuts would expire
- Defense funding would be slashed
- Funding for domestic programs would be cut
- Many US companies would put off hiring and spend less
- Jobless benefits for the longterm unemployed would be cut
- The unemployment rate would shoot up