|
Both measures would be paid for by enlarging federal deficits. Republicans considered using procedural moves to prevent the Senate from even debating the business tax-cut bill. But most decided the debate was an opportunity to showcase their own tax policies and the Senate voted 80-14 to begin debate. In the end, they are unlikely to help provide the 60 votes the measure will need for approval, unless they are unexpectedly able to reshape the bill to their liking. "We'll have to see what the bill looks like" at the end, said Senate Minority Leader Mitch McConnell, R-Ky. He added, "Having said that, I think it is a good idea to talk about taxes this week." House Speaker John Boehner, R-Ohio, plans a vote before Congress' August break on extending all the tax cuts for a year. Republicans say this would give Congress time to work on overhauling the tax code and avert deep automatic spending cuts that take effect in January unless lawmakers head them off. Reid also plans a vote soon on renewing the tax cuts, but only for those earning under $250,000. Underscoring the partisan warfare over taxes and the economy, the two parties drew differing conclusions from a report issued Tuesday by the nonpartisan Congressional Budget Office. The study found that the average federal tax rate -- including income, payroll and other taxes
-- fell to 17.4 percent in 2009, the lowest level since the agency began compiling the data in 1979. Democrats contrasted that with continued GOP demands for tax cuts. "However much Republicans try to perpetuate false claims, the facts speak for themselves: Tax rates have never been lower than under President Obama," said Rep. Sander Levin, D-Mich., top Democrat on the House Ways and Means Committee. The report also found that average before-tax income fell 12 percent from 2007 to 2009 to $88,400, while average government support payments have been growing. "Under President Obama and the Democrats who control Washington, Americans have lost their jobs, seen their wages decline and fallen into lower tax brackets," said Michelle Dimarob, spokeswoman for Ways and Means Republicans. "A weak economy and fewer jobs is nothing to cheer about."
[Associated
Press;
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor