- Corporate income tax cut helps profit-making mainland companies
- But interest deduction limitation and oil-company tax hike discourage investment in Norway
- Increased tax on secondary residences will do little to dampen housing market
- No government shutdown on March 27
- Sequestration cuts remain in place for the rest of the fiscal year
- Need to again raise the budget ceiling in July or August
The US is not going over the fiscal cliff for now. Congress stopped income tax increases for more than 99 percent of households, while automatic federal spending cuts were postponed by two months. Thus, as the government is set to exceed its borrowing limits in the end of February, in effect, the President and Congress delayed going over the fiscal cliff by erecting a new and potentially more dangerous cliff, indicating that businesses and households will continue to postpone costly actions until the problem is completely resolved.
Valresultatet ändrade inte den politiska kartan. Barack Obama förblir president, demokraterna håller senaten och republikanerna håller representanthuset. Överst på den politiska agendan står nu att undanröja hotet från omfattande skattehöjningar, som sannolikt kommer att orsaka en recession i början av nästa år. För att göra detta behövs samarbete över partigränserna, vilket kan bli svårt när heta ideologiska känslor svallar. Vi litar dock på sunt förnuft och räknar med att dessa skattehöjningar inte kommer att genomföras.