House Republicans eye limited fiscal cliff bill |
| Reuters - Dec 18, 2012 |
With time running short before a Dec. 31 deadline, House of Representatives Speaker John Boehner will begin work on legislation that simply would extend current low income tax rates for all families with incomes below $1 million a year, according to an aide.
Negotiations will continue with the White House on a broader tax and spending deal, the Boehner aide said.
Boehner is presenting the plan to rank-and-file Republicans in a closed-door session.
On January 1, income tax increases for most Americans will begin unless Congress acts.
Last July, the Democratic-controlled Senate passed a bill to extend the current low rates for all families with net incomes below $250,000 a year. The House Republican proposal, if passed by the House, would require agreement by the Senate or force a round of negotiations on a compromise between the two chambers.
Read Full Article from Reuters
- Posted: 2012-12-18 15:03:42
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
