Statement by the Press Secretary on H.R. 8

On Wednesday, January 2, 2013, the President signed into law:

H.R. 8, the "American Taxpayer Relief Act of 2012," which makes permanent the temporary rates on taxable income at or below $400,000 for individual filers and $450,000 for married individuals filing jointly; permanently indexes the Alternative Minimum Tax exemption amount to the Consumer Price Index; extends emergency unemployment compensation benefits and Federal funding for extended benefits for unemployed workers for one year; continues current law Medicare payment rates for physicians' services furnished through December 31, 2013; extends farm bill policies and programs through September 30, 2013; and provides a postponement of the Budget Control Act's sequester for two months.