Tax package heads toward high stakes vote in House

Tax package heads toward high stakes vote in House
Senate Minority Leader Mitch McConnell of Ky., walks on Capitol Hill in Washington Wednesday, Dec. 15, 2010. A massive tax package that would save millions of Americans thousands of dollars in higher taxes is headed for a vote in the House Thursday even as rebellious Democrats complain it is too generous to the wealthy. House Democratic leaders plan to pass the bill Thursday. But first, they will hold a vote on imposing a higher Estate Tax than the one negotiated by President Barack Obama. The ...

Tax Package Heads Toward High Stakes Vote in House
WASHINGTON — Despite a delay, the White House pushed hard Thursday for the House to pass a tax package that would save millions of Americans thousands of dollars in higher taxes beginning Jan. 1. Some Democratic lawmakers are seeking changes to the package that could derail the bill. Democratic leaders are staying hands-off, leaving it to President Barack Obama to persuade fellow Democrats not to put the package at risk by imposing a higher Estate Tax than he negotiated with Republicans....

Tax package heads toward high stakes vote in House
WASHINGTON (AP) - A massive tax package that would save millions of Americans thousands of dollars in higher taxes is headed for a vote in the House Thursday even as rebellious Democrats complain it is too generous to the wealthy. House Democratic leaders plan to pass the bill Thursday. But first, they will hold a vote on imposing a higher Estate Tax than the one negotiated by President Barack Obama. The Senate overwhelmingly passed the package Wednesday, with broad Bipartisan support. Now, Ob...

Tax-cut deal wins final OK
WASHINGTON — The House passed an $858 billion package of extended Tax Cuts and stimulus spending late last night, saving at least hundreds of dollars for nearly all Americans and heralding the first broad Bipartisan Compromise of the Obama presidency. The 277-to-148 vote was a political victory for President Obama, who made the case for Compromise over complaints from the base of the Democratic Party. Some longtime Obama backers fought the president’s deal late into the night, conte...

Congress passes extension of Bush-era tax cuts
Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years Tax Breaks enacted under president George W. Bush and to provide a fresh boost of federal support to the tepid Economic Recovery. This Story Congress passes extension of Bush-era Tax Cuts Senate Democrats give up on earmark-laden spending bill Brown Says Tax Cuts Blow `Outrageous' Hole in Deficit Republicans and tax cuts? Now that's rich. Graphic: How ...

Tax package heads toward high stakes vote in House
WASHINGTON—The White House is pushing hard for the House to pass a tax package Thursday that would save millions of Americans thousands of dollars in higher taxes beginning Jan. 1. Some Democratic lawmakers are seeking changes to the package that could derail the bill. Democratic leaders are staying hands-off, leaving it to President Barack Obama to persuade fellow Democrats not to put the package at risk by imposing a higher Estate Tax than he negotiated with Republicans. "I think the p...

House debates tax package, vote set
Published: Dec. 16, 2010 at 9:27 PM Rep. Jim McGovern (D-MA) attends a House Rules Committee in Washington on March 20, 2010. The Committee is expected to pass a rule that will incorporate the Senate Health Care bill into the House version before the House votes tomorrow on a final version of the bill. UPI/Alexis C. Glenn WASHINGTON, Dec. 16 (UPI) -- The U.S. House Thursday debated Legislation negotiated by President Barack Obama and congressional Republicans to extend Tax Cuts enacted 10 years ...

Tax package heads toward high stakes vote in House
WASHINGTON — Despite a delay, the White House pushed hard Thursday for the House to pass a tax package that would save millions of Americans thousands of dollars in higher taxes beginning Jan. 1. Some Democratic lawmakers are seeking changes to the package that could derail the bill. Democratic leaders are staying hands-off, leaving it to President Barack Obama to persuade fellow Democrats not to put the package at risk by imposing a higher Estate Tax than he negotiated with Republicans. "...

House Democrats Vow to Resolve Procedural Impasse, Bring Tax Bill Up for Debate
Dec. 15: House Speaker Nancy Pelosi is flanked by Rep. Barney Frank, left, and Rep. Patrick Murphy during a news conference on Capitol Hill. House Democratic leaders on Thursday quelled an uprising among liberals over procedural issues with the massive Tax Cut package that was negotiated by the White House and Republicans. Democratic leaders emerged from an evening Caucus meeting Thursday, saying they were on track for a vote by the end of the night and started debate on the package later in the...

Tax Compromise Heads Toward Make-or-Break Vote in House
Thursday, December 16, 2010 By Stephen Ohlemacher, Associated Press Sen. Jim DeMint, R-S.C., walks near the floor of the Senate during the vote on tax Legislation on Wednesday, Dec. 15, 2010. (AP Photo) Washington (AP) - A massive tax package that would save millions of Americans thousands of dollars in higher taxes is headed for a vote in the House Thursday even as rebellious Democrats complain it is too generous to the wealthy. House Democratic leaders plan to pass the bill Thursday. But ...

Lame-duck watch: House tax deal vote approaches
We’re about one hour from the House tax deal vote. It’s the usual parade of class-warfare demagogues. Drinking game buzz words: Wealthy. Millionaires and Billionaires. Hostages. Rich, richer, Richest. Social Security. Via Allahpundit, a rundown of possible votes tonight: Robert Costa at NRO has a status report. Remember, Pelosi screwed up earlier this afternoon by agreeing to let an amendment on the Estate Tax provisions come to the floor via a procedural rule that would have deem...

Highlights of the tax package passed by Congress (AP)
Highlights of the tax package passed by Congress late Thursday and sent to President Barack Obama. It would cost about $858 billion; most provisions, which were to expire Jan. 1, would be extended for two years, unless noted. The package extends: _Lower rates for Taxpayers at every income level. The top rate, on taxable income above $379,150, would stay at 35 percent, instead of increasing to 39.6 percent. The bottom rate, on taxable income below $8,500 for individuals and $17,000 for married ...

Despite Obamas Plea House Democrats Delay Tax Vote
They can pass Trillion dollar bills without reading them but for some reason passing a Tax Rate extension is nearly impossible for these radicals. The House Democrats delayed the vote on extending the Bush Tax Cuts today. Liberals are revolting. House lawmakers stalled the White House’s favored tax package Thursday, delaying debate and a potential vote on the bill until at least late day. The White House has been pushing hard for the House to pass a tax package that would save millions o...

House passes tax package
House Majority Leader Steny Hoyer, D-Md., right, speaks to reporters Thursday before the House was to vote on the tax package. (Brendan Smialowski, Getty Images) Sen. Udall votes 'no' on extending Tax Cuts WASHINGTON — Acting with uncommon speed, Congress sent President Barack Obama sweeping, Bipartisan Legislation late Thursday 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 measure also will cut Social Se...

What the New Tax Bill Deal Means for You
Despite objections raised by Democrats, and a lengthy delay of the final vote until late Thursday, the House of Representatives has passed an extension of the Bush-era Tax Cuts, keeping Payroll Tax rates for all wage earners at current levels. The $858 billion bill, a product of negotiations between President Obama and Republican lawmakers in the Senate, also continues a cut in Social Security taxes. That means you'll continue to bring home more in your paycheck. The tax-cut plan extends thro...

Tax Deal Hits Procedural Snag in the House
WASHINGTON —The $858 billion Tax Cut package negotiated by the White House and Republican leaders hit a procedural snag on Thursday, as Liberal Democrats skirmished with Party Leaders over its estate-tax provisions. At issue was whether the House would vote on an amendment to tax a larger proportion of wealthy estates and to apply a higher rate than was provided for in the Compromise package. Estate taxes have long generated political heat. Would other kinds of taxes work just as well? Th...

US tax cuts given final approval
US MPs have given final approval to President Barack Obama's contentious deal with Republicans to avert a New Year's tax hike and extend aid to the jobless, despite a Democratic rebellion. A day after the US Senate passed the package by an 81-19 margin, the House of Representatives followed suit 277-148, sending the measure to Obama to sign and reap a restorative Bipartisan victory six weeks after an Elections rout. The $US858 billion ($A869.3 billion) measure was expected to give the American e...

House vote makes nod for tax bill seem likely
With the largest Tax Increase in history looming, House Democratic leaders were struggling late Thursday to try to find an outlet for the anger of their most liberal members while still delivering on President Obama's deal with Republicans to extend the expiring Tax Cuts. In an early test vote, the House cleared the way for the debate, voting 214-201 to back a framework that likely cleared the way for passage late Thursday night. "I don't like this bill. I don't know of anyone who stood up and s...

Highlights of the tax package passed by Congress
_Lower rates for Taxpayers at every income level. The top rate, on taxable income above $379,150, would stay at 35 percent, instead of increasing to 39.6 percent. The bottom rate, on taxable income below $8,500 for individuals and $17,000 for married couples, would stay at 10 percent, instead of increasing to 15 percent. Cost: $186.8 billion. _More generous itemized deductions for high-income households. Cost: $20.7 billion. _A more generous $1,000 child Tax Credit. Cost: $71.7 billion. _Marr...

Highlights of the tax package passed by Congress
—Lower rates for Taxpayers at every income level. The top rate, on taxable income above $379,150, would stay at 35 percent, instead of increasing to 39.6 percent. The bottom rate, on taxable income below $8,500 for individuals and $17,000 for married couples, would stay at 10 percent, instead of increasing to 15 percent. Cost: $186.8 billion. —More generous itemized deductions for high-income households. Cost: $20.7 billion. —A more generous $1,000 child Tax Credit. Cost: $71.7...

What does the tax deal mean to you?
Millions of Taxpayers — including those who earn $250,000 or more — won't have to worry about a Tax Increase next year if a measure the House debated on Thursday passes without changes. MEASURE: House votes on tax deal changes Average AmericanS: Payroll taxes THE UNEMPLOYED: Jobless benefits SENIORS: Individual Retirement accounts Homeowners: Mortgage Insurance deductions PARENTS: Child Tax Credits INVESTORS: Capital gains Tax Rate WEALTHY FAMILIES: Estate Tax exemptions Other group...

House heads toward anticipated tax bill passage
WASHINGTON (Reuters) - The $858 billion tax-cut package brokered by President Barack Obama and Republicans survived a key test vote in the House of Representatives on Thursday and headed toward passage, likely within hours. By a vote of 214-to-201, the measure cleared a procedural hurdle, allowing formal debate on the bill that would boost The Economy but deepen the Deficit. It sailed through the Senate on Wednesday by 81-19. The measure was pulled temporarily from the House floor earlier in the...

House heads toward anticipated tax bill passage
WASHINGTON (Reuters) - The $858 billion tax-cut package brokered by President Barack Obama and Republicans survived a key test vote in the House of Representatives on Thursday and headed toward passage, likely within hours. By a vote of 214-to-201, the measure cleared a procedural hurdle, allowing formal debate on the bill that would boost The Economy but deepen the Deficit. It sailed through the Senate on Wednesday by 81-19. The measure was pulled temporarily from the House floor earlier in the...

House passes $858 billion tax cut, stimulus bill
Search our databases WASHINGTON — A reluctant House of Representatives late Thursday voted 277-148 to approve sweeping tax Legislation aimed at boosting the nation’s struggling economy. The vote, just before the stroke of midnight, follows overwhelming Senate approval Wednesday and sends the historic $858 billion measure to President Barack Obama for his signature. The bill will prevent taxes from rising as scheduled on virtually all Americans on Jan. 1, extend jobless benefits for the lon...

Tax-Cut Vote in U.S. House Is Delayed By Procedural Dispute
Calif. Regulators OK major greenhouse gas rules 12.16.10 Taiwan, China to sign medical cooperation pact 12.16.10 Dec. 16 (Bloomberg) -- U.S. House plans to vote on President Barack Obama's $858 billion agreement to extend Bush- era Tax Cuts were delayed today because of a procedural dispute over the rules for debate. Many House Democrats opposed a debate structure offered by the Rules Committee that would have required lawmakers who want to increase the estate-tax rate in the bill to simultaneou...