Tax package heads toward high stakes vote in House

Bill Preventing Tax Hikes Heads to Obama
(WASHINGTON) — A massive Bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would extend Tax Cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. In a remarkable show of Bipartisanship, the House gave final approval to the measure...

Bill Preventing Big Tax Hikes Heads to Obama
Friday, December 17, 2010 By Stephen Ohlemacher, Associated Press House Speaker Nancy Pelosi of California heads into a Democratic Caucus meeting on Capitol Hill on Thursday, Dec. 16, 2010. Rep. Barney Frank, D-Mass., is at left and Rep. Bob Etheridge, D-N.C., is at center. (AP Photo/Harry Hamburg) Washington (AP) - A massive Bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would ...

House sends tax deal to Obama unaltered
WASHINGTON — A sweeping plan to extend expiring Tax Cuts and jobless benefits for millions of Americans was on its way to President Obama for his signature after the House of Representatives voted late Thursday night to pass the bill despite opposition from Liberal Democrats. House Democrats, navigating an attempted revolt within their own party that threatened to derail the measure, joined Republicans in turning back proposed last-minute changes to the Estate Tax that would have sent the b...

House sends tax deal to Obama unaltered
WASHINGTON — A sweeping plan to extend expiring Tax Cuts and jobless benefits for millions of Americans was on its way to President Obama for his signature after the House of Representatives voted late Thursday night to pass the bill despite opposition from Liberal Democrats. House Democrats, navigating an attempted revolt within their own party that threatened to derail the measure, joined Republicans in turning back proposed last-minute changes to the Estate Tax that would have sent the b...

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...

Bill preventing big tax hikes heads to Obama
WASHINGTON — A massive Bipartisan tax package preventing a big New Year’s Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would extend Tax Cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. In a remarkable show of Bipartisanship, the House gave final approval to the measur...

AP: Bill Preventing Big Tax Hikes Passes
From a suddenly tone changing Associated Press: Bill preventing big tax hikes heads to Obama By Stephen Ohlemacher, Associated Press December 17, 2010 WASHINGTON - A massive Bipartisan tax package preventing a big New Year’s Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. Notice the sudden change in tone from the AP. They are no longer calling this ‘Mr. Obama’s Tax Cut deal.’ Maybe that was too big of lie even for t...

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....

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 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 ...

House Passes Temporary Extension Of Bush-era Tax Cuts 277-148
. House passes temporary extension of Bush-era Tax Cuts 277-148 The Hill 12/17/10 12:00 AM ET The House late Thursday gave final approval to a temporary extension of the George W. Bush-era Tax Rates, delivering a significant but politically bruising victory to President Obama. The $858 billion Legislation now heads to the president’s desk for his signature. It extends the Bush Tax Cuts across the board for two years, slashes the employee Payroll Tax by 2 percent for one year, renews the e...

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...

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...

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...

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 Rates To Stay Steady Through The New Year
Rep. Anthony Weiner (D-NY) (Credit: Brendan Smialowski/Getty Images) NEW YORK (CBS 2) — When ball drops in two weeks, Americans will not get hit with Tax Increases, no matter what their economic status is, Kathryn Brown reports. In a rare midnight session, the House of Representatives approved a sweeping Tax Cut package. The deal extends the Tax Rates that were in force for years and were set to expire on December 31 for everyone for two more years, even high-income earners, extends unemp...

House passes Obama's huge tax-cut bill
(12-17) 04:00 PST Washington - -- Enraging the liberal wing of his party, President Obama won the biggest Bipartisan victory of his presidency Thursday as the House passed his $858 billion, two-year Compromise with Republicans that temporarily extends all the Bush-era Tax Cuts and Unemployment Insurance. Furious Democrats - who in one of their last acts in the House majority found themselves extending the policies of former President George W. Bush - delayed passage until late in the evening, ...

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 (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 ...

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...

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...

McConnell Embraces Obamas Taxes Wont Go Up for Anyone Claim
Senate Minority Leader Mitch McConnell (R-Ky.) added that the vote “represents a clear shift in the debate over America’s path to Economic Recovery,” as “Democrats joined our effort to ensure taxes aren’t going up on anyone and that Americans are keeping their money so they, not the government are more equipped to help bring our economy back.” Sure, there’s lots wrong with the deal, on the Estate Tax and the broken promise to end the wealthiest American...

Abbreviated Pundit Round-up
Friday opinion. By the way, while the East Coast slept Congress at midnight Thursday approved an $801 billion package of Tax Cuts and $57 billion for extended Unemployment Insurance. The vote sealed the first major deal between President Obama and Congressional Republicans as Democrats put aside their objections and bowed to the realignment of power brought about by their crushing election losses. Steven Pearlstein: That said, a lot of the explanations given by Republicans themselves don't q...