Fittest loser
Article updated: 1/2/2013 5:29 PM

Taxes to rise for most Americans despite cliff deal

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President Barack Obama smiles Tuesday as he arrives with Vice President Joe Biden to make a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House in Washington.

Associated Press

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While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013. The Tax Policy Center, a nonpartisan Washington research group, estimates that 77 percent of American households will face higher federal taxes in 2013 under the agreement negotiated between President Barack Obama and Senate Republicans.
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