Klobuchar, Democrats unveil $80 billion tax-relief package

[Doondoo]

WASHINGTON - At a Capitol Hill news conference on Thursday, Sen. Amy Klobuchar, D-Minn., recounted how she grew up in a middle-class family in a middle-class neighborhood, always believing that if she worked hard, she could get to where she wanted to go.

But during the past two years, she said, she learned that many people no longer feel that way. So on Thursday, she helped propose "middle-class opportunity" legislation with Sen. Charles Schumer, D-N.Y., and some of her freshman colleagues.

The bill, which would provide $80 billion in tax credits over four years, would:

• Double the child tax credit to $2,000 in the first year of the child's life;

• Extend the dependent care tax credit to cover 35 percent of qualified child-care expense for eligible families;

• Extend the alternative minimum tax relief through 2008;

• Consolidate three college-tuition tax deductions and credits into one up to $2,500 per student, and

• Save families taking care of elderly parents an average of $200 a month.

To help pay for the legislation, the Democrats proposed ending "royalties" for oil companies and possibly raising taxes on the wealthiest Americans.


http://www.startribune.com/587/story/1005837.html

[BootinUp]

1. I liked her the first time

I watched her in a debate. Smart lady.

[jean]

2. Way to go, Sen. Klobuchar!

[BadGimp]

3. What are the chances this will pass?

Thoughts anyone?

I'd give it a 20% chance. Can't wait to see what the Rethugs attach to it.