Senate Passes Compromise Tax Plan by Wide Margin |
| New York Times - Dec 15, 2010 |
The Senate on Wednesday approved the $858 billion tax plan negotiated by the White House and Republican leaders — the first concrete product of a new era of divided government and acid compromise.
The vote was 81 to 19, as Democrats yielded in their long push to end the Bush-era lowered tax rates for high-income taxpayers, and Republicans agreed to back a huge economic stimulus package, including an extension of jobless benefits for the long-term unemployed and a one-year payroll-tax cut for most workers, with the entire cost added to the federal deficit.
The bill goes next to the House, where Democratic leaders said they expected to bring the bill to the floor on Thursday. They predicted that it would be approved this week, despite lingering opposition among rank-and-file Democrats who are still intent on making changes to a provision that grants a generous tax exemption to wealthy estates. Republicans have said they will not accept any change.
Read Full Article from New York Times
- Posted: 2010-12-15 14:01:03
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