The full text of the American Taxpayer Relief Act of 2012, as passed by both houses of the 112th Congress and signed by President Obama.

The American Taxpayer Relief Act of 2012 (H.R. 8) passed by the United States Congress on January 1, 2013 centers on a partial resolution to the United States fiscal cliff by addressing the expiration of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, as well as the activation of the budget sequestration provisions of the Budget Control Act of 2011.The American Taxpayer Relief Act allows the Bush-era tax rates to sunset after 2012 for individuals with incomes over $400,000 and families with incomes over $450,000; permanently "patches" the alternative minimum tax (AMT); revives many now-expired tax extenders, including the research tax credit and the American Opportunity Tax Credit; and provides for a maximum estate tax of 40 percent with a $5 million exclusion. The Act also delays the mandatory across-the-board spending cuts known as sequestration.

A timely examination of the effects of the Great Recession on Americans and the resulting federal reforms to healthcare, employment, and housing policies as a means to alleviate poverty. The Great Recession (2007 to 2009) brought the United States—routinely touted as the richest country in the world—to historical levels of poverty. Rising unemployment, government budget crises, and the collapse of the housing market had devastating effects on the poor and middle class. This is one of the first books to focus on the impact of the Great Recession on poverty in America, examining governmental and cultural responses to the economic downturn; the demographics of poverty by gender, age, occupation, education, geographical area, and ethnic identity; and federal and state efforts toward reform and relief. Essays from more than 20 contributing writers explore the history of poverty in America and provide a vision of what lies ahead for the American economy.