US Congress Avoids Fiscal Cliff, Postpones Budget Decision
2013-01-05 00:01:50

From VOA Learning English, this is the Economics Report in Special English.(1)

On January first, both houses of the United States Congress approved a plan that will increase taxes for most Americans.(2)
1 月第一次,美国国会两院批准一项计划,将大多数美国人加税。

But the agreement avoided much larger tax increases that were set to take effect this year.(3)

President Obama signed the bill into law late Wednesday. In a statement, he noted the importance of a balanced approach to the country’s fiscal problems.(4)

"Today's agreement enshrines, I think, a principle into law that will remain in place as long as I am president: The deficit needs to be reduced in a way that's balanced. Everyone pays their fair share. Everyone does their part. That's how our economy works best. That's how we grow."(5)
"今天的协议规定,我认为,成为法律,将留在的地方,只要我是总统的一项原则: 财政赤字需要减少的平衡的方式。每个人都支付公平的份额。每个人都没有他们的一部分。这就是我们的经济工作方式最好。这就是我们如何增长。

The combination of higher taxes and automatic budget cuts has been called the “fiscal cliff.” That cliff has been avoided. But much remains to be done.(6)

Congress has given itself another two months to decide on how to cut the federal budget. More tax money and budget reductions are needed to cut the federal deficit.(7)

That deficit was over $1 trillion last year.(8)
这一赤字去年超过 1 兆美元。

The new law increases the tax rate on individuals with earnings of over $400,000 and on couples with earnings of over $450,000. All working Americans will have some kind of tax increase.(9)
新法律增加的税率,对超过 40 万美元的收入与个人和夫妇与收入超过四十五万元。所有工作的美国人会都有某种形式的加税。

This is because the share of Social Security taxes paid by employees will return to 2010 levels, an increase from last year of two percent.(10)
这是因为由雇员支付的社会保障税的份额将返回到 2010年的水平,从去年的 2%的增加。

But the largest part of the tax increase will affect those with a lot of investment income and those with very high wages.(11)

Taxes on investment gains and dividends, payments from some kinds of securities, will increase. Also, the top income tax rate will go to 39.5 percent from 35 percent.(12)
对投资收益和红利,从某些种类的证券,支付税收将会增加。此外,最高收入税率将从 35%去的 39.5%。

Overall, the effect of the law is simple. It will be the first major tax increase in 20 years.(13)
总体而言,该法律的影响是简单。它将是 20 年来第一次重大税收增加。

But the new law means only half of the deficit question has been answered. Taxes provide revenue to finance government operations. But budget cuts reduce costs.(14)

And lawmakers will have little time to debate. The federal government has reached its legal debt limit. That is the borrowing limit, set by Congress, for the government.(15)

Congress will have to raise the debt ceiling by late February. That will be the job of the 113th Congress, which was seated on Thursday.(16)
国会将不得不提高债务上限由 2 月下旬。这将是 113 的国会,坐周四的工作。

In addition, lawmakers will have to make difficult budget decisions by March first. On that date, big, automatic budget cuts, or sequestration is set to take place across the federal government.(17)
此外,立法者将必须由 3 月第一次作出预算决定的困难。上,设置日期、 大、 自动预算削减或封存在联邦政府各部门采取的地方。

All Articles fetched from Voice of America RSS (Really Simple Syndication) feeds and copyrighted by