Tax Deal Passes the House 277 to 148

Obama signs tax-cut bill, hails the compromise as progress
WASHINGTON — President Obama signed into law a huge tax package extending cuts for all Americans yesterday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer-term help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people two weeks after New Year’s Day. “We are here with so...

Controversial tax measure signed
WASHINGTON — President Obama signed into law a huge, holiday-season tax measure extending cuts for most Americans on Friday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer-term help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people starting New Year's Day. "We are here with som...

What the Tax Deal Means to Your Wallet
The pressure is off -- at least for now. With the Bush-era Tax Cuts extended for all Americans for at least the next two years under the law signed today by President Obama, government leaders have managed to postpone some tough decisions to be made surrounding the U.S. tax code until 2012. The law has been labeled “Compromise” Legislation, and for good reason. In exchange for the tax-cuts extension, Republicans agreed to extend jobless benefits for the long-term unemployed. They als...

Obama salutes spirit of compromise, signs tax bill
President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer-term help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year's Day. Declared Obama: "We are...

What the Tax Deal Means to Your Wallet
The pressure is off -- at least for now. With the Bush-era Tax Cuts extended for all Americans for at least the next two years under the law signed today by President Obama, government leaders have managed to postpone some tough decisions to be made surrounding the U.S. tax code until 2012. The law has been labeled “Compromise” Legislation, and for good reason. In exchange for the tax-cuts extension, Republicans agreed to extend jobless benefits for the long-term unemployed. They als...

Obama Signs Extension of Bush Tax Cuts
From the Associated Press: President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer-term help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year&...

New Jersey Senators divided over tax cut extension
On Wednesday, December 15, 2010, the United States Senate voted 81-19 overwhelmingly in favor of extending the temporary Tax Cuts put in place by former President George W. Bush in 2001 and 2003.  President Barack Obama urged the United States Congress to agree with the Tax Cuts being extended after he brokered a deal with the Republican leaders in the Senate.  However, New Jersey Senator Frank Lautenberg did not vote in favor of the tax cut extension brokered by President Obama while ...

Obama signs compromise bill extending tax cuts
WASHINGTON (AP) — President Barack Obama has signed an $858 billion tax bill he negotiated with Republicans. The package extends Bush-era Tax Cuts for two years, including Tax Rates for the wealthy that Obama had vowed to let expire. The deal includes a 13-month extension of jobless benefits for the out-of-work, and a nearly one-third cut in Payroll taxes that finance Social Security. Displaying a new style of compromising, the president invited Democrats and Republicans alike to the Whi...

The tax deal's biggest losers
It's easy to declare the winners in the new tax bill, but let's not forget the unluckiest of them all -- those who have been jobless for 99 weeks. Now is just not the time for higher taxes. That's the message delivered by President Obama's tax deal, an $858 billion package that will extend Tax Breaks enacted under former president George W. Bush. The bill will prevent taxes from rising on New Year's Day for virtually every American household. What's more, it will create major incentives for bus...

Republicans Kill the Omnibus Spending Bill
Get alerts when there is a new article that might interest you. Due to a lack of Republican support for the 2,000-page spending bill, the Majority Leader will not be calling it up. Looks like the Senate will be doing a short-term CR instead. "There is only one reason Cloture is not being filed" on the 2,000-page omnibus spending bill, McConnell said. They "don't have the votes." Don't sacrifice unit cohesion for a social experiment. And there's a role for Congress. The Afghan governme...

President Obama signs tax cut deal into law
Here's video of President Obama Friday afternoon, signing his Tax Cut deal into law and hailing it as a Bipartisan victory for middle-class families: Full transcript below the fold, but here's a snippet: This Bipartisan effort was prompted by the fact that Tax Rates for every American were poised to automatically increase on January 1st. If that had come to pass, the average middle-class family would have had to pay an extra $3,000 in taxes next year. That wouldn’t have just been a blow t...

Obama salutes spirit of compromise, signs tax bill
WASHINGTON—President Barack Obama signed into law a huge, holiday-season tax bill extending cuts for all Americans on Friday, saluting a new spirit of political Compromise as Republicans applauded and liberals seethed. The benefits range from Tax Cuts for Millionaires and the Middle Class to longer-term help for the jobless. The most significant tax Legislation in nearly a decade will avert big increases that would have hit millions of people starting in two weeks on New Year's Day. Decla...

US tax deal, budget feud set stage for 2011 cuts
The author is a Reuters Breakingviews columnist. The opinions expressed are his own. To nations suffering Austerity, it must seem as if Washington has gone mad. First, the U.S. Congress fails to agree on a 2011 Budget. Then lawmakers overwhelmingly pass another giant stimulus. But both events actually hint at some chance of more disciplined fiscal action next year. President Barack Obama will quickly sign the $858 billion stimulus/Tax Cut bill that funds Unemployment Benefits for 13 months and...

House Passes Bush Tax Cut Rate Extension 277-148 in Late-Night Vote Raw Video 12/16/10
The U.S. House of Representatives has passed the bill extending the Bush Tax Cut Rates by a 277-148 vote. The vote came around midnight last night, and sends the bill on to President Obama where he will sign it into law. The bill leaves the current Tax Rate in place on all income levels, and also provides a one-year Social Security “tax holiday” - with virtually all U.S. workers paying 2% less in Payroll taxes in 2011. ...

Business Highlights (AP)
___ Obama salutes spirit of Compromise, signs tax bill WASHINGTON (AP) _President Barack Obama saluted a new spirit of political compromise Friday as he signed into law a huge tax bill extending cuts for all Americans — including benefits for the rich that he and congressional liberals had denounced — along with billions of dollars in help for the Middle Class and jobless workers. The package retains Bush-era Tax Rates for all Taxpayers, from the working poor to the wealthiest. It ...

Tax cut deal passes, heads to President Obama's desk
On the upside, the President's Tax Cut deal provides 13 months of Unemployment Insurance benefits, extends middle-class tax cuts, delivers targeted tax incentives for increased business spending including in the energy sector, and adds on top of that $120 billion in temporary tax cuts that are sure to have a stimulative effect. On the downside, Republicans refused to allow the Tax Cut deal to go forward without continuing the irresponsible Bush tax cuts for the wealthy, including an egregious s...

Tax cut deal passes heads, heads to President Obama's desk
On the upside, the President's Tax Cut deal provides 13 months of Unemployment Insurance benefits, extends middle-class tax cuts, delivers targeted tax incentives for increased business spending including in the energy sector, and adds on top of that $120 billion in temporary tax cuts that are sure to have a stimulative effect. On the downside, Republicans refused to allow the Tax Cut deal to go forward without continuing the irresponsible Bush tax cuts for the wealthy, including an egregious s...

Grab bag of goodies in Obama’s tax plan
WASHINGTON - President Barack Obama’s $858 billion tax package is a grab bag of goodies for investors, the affluent and workers, but the richer you are the more you get. Congress passed the bill after Liberal Democrats lost their bid to make it less generous to the wealthy, and Obama signed it into law Friday. There is something in the bill for virtually every Taxpayer. Low and moderate income workers see a Payroll Tax cut, and expansion of a Tax Credit for Working Families — priorit...

Grab bag of goodies in Obama’s tax plan
WASHINGTON - President Barack Obama’s $858 billion tax package is a grab bag of goodies for investors, the affluent and workers, but the richer you are the more you get. Congress passed the bill after Liberal Democrats lost their bid to make it less generous to the wealthy, and Obama signed it into law Friday. There is something in the bill for virtually every Taxpayer. Low and moderate income workers see a Payroll Tax cut, and expansion of a Tax Credit for Working Families — priorit...

President Obama signs law that extends jobless checks
Tens of thousands of unemployed workers in Massachusetts won’t have to worry about their jobless benefits being cut on Christmas. President Obama yesterday quickly signed into law a massive tax-compromise bill that includes funds to extend emergency benefits for millions of the nation’s unemployed. As a result, as many as 60,000 Massachusetts residents will get benefits checks this Holiday Season, rather than seeing them cut on Christmas Day, as many had feared might happen due to p...

What the Tax Bill Means to Your Wallet
The pressure is off-- at least for now. With the Bush-era Tax Cuts extended for all Americans for at least the next two years under the bill signed today by President Obama, government leaders have managed to postpone some tough decisions to be made surrounding the U.S. tax code until 2012. The bill has been labeled "Compromise" Legislation, and for good reason. In exchange for the tax-cuts extension, Republicans agreed to extend jobless benefits for the long-term unemployed. They also agreed to...

On Julian Assange and the Tax Cuts
"We were better off at 28 percent under Reagan than we’ve been since. And we are going to be at 39 percent come January." - Rep. Darrel Issa (R-CA), the wealthiest member of Congress, on Fox What connection does Julian Assange have to the nearly $900 billion Tax Cut/UI extension bill that Obama signed into law today? Absolutely nothing... at first glance. But look more closely. Both issues, the saga of the inexplicably crusading founder of Wikileaks and the third billionaire Bailout, as I...

Obama keeps Bush's vast tax cuts for wealthy
President Barack Obama last night signed into law a sweeping $858bn (£554bn) tax bill that ensures tax-rate cuts introduced by former President George Bush nearly a decade ago will remain in place for another two years, offering a potentially powerful fillip to the flat US economy. The passage of the law on Capitol Hill was the most dramatic evidence yet that Bipartisan Compromise has been unexpectedly resurrected in the weeks after November's Midterm Elections. The deal was largely the one s...

Down The Road To Decline
Commentary By Ron Beasley Congress Sends $801 Billion Tax Cut Bill to Obama and he signs it.  Well what does the man who sold us Supply Side Economics over 30 years ago think of it?  Not Much! You will notice that while he blames the politicians he blames the FED and Wall Street even more.   The FED has engineered a serial bubble that has created the illusion of wealth by encouraging the Wall Street casino.  He says that the original Bush Tax Cuts were a 10 billio...

Down The Road To Decline
Congress Sends $801 Billion Tax Cut Bill to Obama and he signs it. Well what does the man who sold us Supply Side Economics over 30 years ago think of it? Not Much! You will notice that while he blames the politicians he blames the FED and Wall Street even more. The FED has engineered a serial bubble that has created the illusion of wealth by encouraging the Wall Street casino. He says that the original Bush Tax Cuts were a 10 billion dollar mistake and extending them will make it worth. And ab...