Major fiscal issues before congress in fy2013 congressional research service 2 early in 20135 this estimated deficit reduction assumes that current law will be implemented as scheduled if however congress changes the trajectory of these policies by increasing spending ie by eliminating the bca automatic spending cuts or decreasing revenue ie by extending a portion of the bush tax . Major fiscal issues before congress in fy2013 english edition ebook whittaker julie m mulvey janemarie hahn jim sherlock molly f levit mindy r amazon . Provides brief overview of major tax and spending policy changes set to take effect under current law at the end of 2012 or early in 2013 addresses other short term considerations and economic issues. major fiscal issues before congress in fy2013 uploaded by ian fleming major fiscal issues before congress in fy2013 congressional research service 3 over the course of the tax year through adjusted tax withholdings or may be realized when 2013 taxes are paid early in 2014 the effects on the spending side may also be muted in the early part of 2013 the automatic cuts major fiscal issues . This report provides a brief overview of the major tax and spending policy changes set to take effect under current law at the end of 2012 or early in 2013 collectively these policies have been referred to by some as the fiscal cliff extending current revenue policies and changing current spending policies would increase the projected budget deficit relative to current law