Skip to main content

Tax Cut Bill Passes Through Senate Vote

Tax Cut Bill Passes Through Senate Vote - Acting with uncommon speed, Congress gave final passage Thursday night of sweeping, bipartisan legislation to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years.
The House passed the measure 277-148 to send the bill to President Barack Obama for signing.
The measure also will cut Social Security taxes for nearly every wage-earner and pump billions of dollars into the still-sluggish economy.

The legislation was the result of a reach across party lines by President Barack Obama and top Republicans in Congress — stubborn adversaries during two years of political combat that ended when the GOP emerged the undisputed winner in midterm elections on Nov. 2.
Rep. Ginny Brown-Waite, R-Fla., called it "a bipartisan moment of clarity" as the House moved toward an expected late night vote.

After forcing a delay in the House early in the day, Democratic critics settled for a separate vote in their bid to toughen an estate tax provision they attacked as a giveaway to the very rich. They were defeated, 233-194, with one vote of "present."

Tax Cut Bill Passes Through Senate Vote

"The president will be able to sign it as soon as he likes," said Rep. Rob Andrews of New Jersey, who added later on the House floor he would support "an imperfect bill" in hopes of stimulating job creation.

Like the Senate, much of the House support came from Republicans. Democrats were deeply divided on the bill. Only a few dozen out of 179 Republicans voted against it.

On the bill's final vote, House Speaker Nancy Pelosi, D-Calif., did not vote; House GOP leader John Boehner, R-Ohio, and Majority Leader Steny Hoyer, D-Md., voted for the bill, and Majority Whip James Clyburn, D-SC, voted against the bill.

Tax Cut Bill Passes Through Senate Vote
Labels:

Comments

Post a Comment

Popular posts from this blog

Contactless Debit Cards

Contactless Debit Cards - Contactless debit cards will make their formal debut in Canada next year with the launch of Interac Flash from Acxsys Corp.’s Interac Association, Canada’s national debit network. Interac’s first two Flash issuers are Scotiabank and RBC Royal Bank, which will roll out their first contactless cards next summer. The first acquirer is TD Merchant Services, a unit of Toronto-Dominion Bank. More issuers and acquirers are on the way, an Interac spokesperson tells Digital Transactions News, though no announcements have been made yet. Interac and the banks tested Flash this summer at some high-volume, small-ticket merchants in downtown Toronto. The spokesperson expects national merchants will be making formal announcements about acceptance. “There’s a lot of excitement in the merchant community,” she says. “Merchants are looking for that faster throughput.” In a statement, the Retail Council of Canada endorsed the new card. “Interac Flash is a welcome and needed ...
Post a Comment
Read more

Homes Losing Value Fastest

Homes Losing Value Fastest - Homeowners with Citigroup loans in foreclosure-rich Virginia Beach, Va., and Orlando, Fla., are in luck. The mortgage giant announced today that it will impose a moratorium on most foreclosures and modify $20 billion in mortgages to enable homeowners who are not behind on their loans, but in danger of falling behind, to avoid foreclosure. Those that don't fall under the plan? They're in hot water. Well, underwater. Virginia Beach homeowners who bought homes this year possess a paltry 5.2% of home equity, and 34.5% owe more on their property than it's worth, according to Zillow.com, a real estate research group. That's the worst rate in the country. Even in Orlando and Miami, two cities hammered by bad loans and home-equity dips, only 30% and 29% of homeowners are underwater, respectively. It's a similar story in El Centro, Calif., Bakersfield, Calif., and Cumberland, Md. What's certain to follow? Foreclosures. "Negative...
1 comment
Read more

'Ferris Bueller's Day Off' Home on the Market for $1.65M

'Ferris Bueller's Day Off' Home on the Market for $1.65M - "Ferris Bueller's Day Off" fans listen up! A home from the iconic '80's film is on the market for $1.65 million, reports the Huffington Post. Starring as the modern digs of character Cameron Frye in the movie, the glassy house is located in Highland Park, Illinois and has been on the market for a little over a year. More photos reveal the glass-wrapped home features floor-to-ceiling windows overlooking a spacious tree-filled lot, according to the listing on Realtor.com. 'Ferris Bueller's Day Off' Home on the Market for $1.65M With four bedrooms, three bathrooms and 5,300 square feet of living space, the home served as the setting for the oddball hijinks in the 1986 film. Architects A. James Speyer and David Haid designed the house, built in 1953, with a specialty glass-enclosed garage to store Ben Rose's collection of vintage cars, reported Luxist.com when the home or...
Post a Comment
Read more