As discussed
CNBC
described here
CNBC
- Expiring 2001 and 2003 Bush era tax cuts will be extended again (this is probably the most controversial assumption).
- The "sequester" (which kicks in because the Supercommittee was unable to reach an agreement) required cuts in discretionary spending are delayed past 2013. It would likely be replaced with longer-term spending cuts.
- Unemployment benefits will be phased down gradually after the end of 2012, rather than expire on schedule.
- The payroll tax cut would in fact expire.
- Reductions in federal spending that are already in play will start taking effect.
described here