House Passes GOP Tax Cut Plan

The Republican-controlled U.S. House of Representatives on Wednesday passed a largely symbolic plan to extend all tax cuts, leaving a deep rift over tax policy unresolved until after November's elections.

The Republican measure, approved by a largely party line vote of 256-171, is expected to die in the Democratic-controlled Senate. It extends all current low individual tax rates that are set to lapse at year-end, a counterpoint to a rival Democratic bill passed by the Senate last week that would raise tax rates on the wealthy.


More on Politics
 
DOW up 52.30 | NAS up 5.69 | S&P up 2.87
(Data as of 2013-05-21 4:36 EDT)
 SEARCH: