U.S. Senate Makes It Harder to Extend Bush Tax Cuts

[papau]

In the 51-48 vote 4 of 51 GOP supported the amendment; one Democrat opposed it - guess which one .... OK TOO EASY - did everyone have to yell ZELL at the same time?! Now quiet down. :-)




http://quote.bloomberg.com/apps/news?pid=10000176&sid=aw0Gw12kiDW4&refer=us_elections

U.S. Senate Makes It Harder to Extend Bush Tax Cuts (Update1)

March 10 (Bloomberg) -- The U.S. Senate approved a plan by Democrats that will make it harder for Congress to make President George W. Bush's $1.7 trillion tax cuts permanent or to extend tax cuts that expire this year.

<snip>The proposal would require tax cuts and increases in spending for benefits such as Medicare proposed in the next five years to be offset by tax increases or spending cuts elsewhere. Any bill that doesn't do so would need 60 votes to clear the Senate, which Republicans control with 51 votes. <snip>

Senate Budget Committee Chairman Don Nickles, an Oklahoma Republican, said the proposal will make it harder to extend Bush's tax cuts. He told reporters that he still expects the Senate this year to pass three of the tax provisions that expire at the end of this year -- breaks that help families with children, low-income taxpayers and married couples. <snip>

Both the House and Senate budget plans sidestep Bush's call to make his tax cuts permanent, extending just the three tax cuts. They include a $1,000 child tax credit, an expanded 10 percent income tax bracket, and relief from the so-called marriage penalty, which causes some dual-income couples to pay higher taxes than would if they were single. <snip>

To contact the reporter on this story:
Laura Litvan in Washington
at [email protected].