U.S. Congress passes Obama tax deal

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, ...

Positive move
By passing a Bipartisan tax package late Thursday, Congress has taken the better course for Working Families, The Economy and business. The Compromise deal negotiated by President Obama and Senate Republicans will extend for two years Tax Cuts enacted when George W. Bush was president — measures that were due to expire Jan. 1. And it expands long-term jobless benefits that otherwise would have been lost. Although the bill passed the Senate by a large margin and the House 277-148, many De...

Pelosi: Tax Cut Legislation Gives Middle-Income Families Fairness and the Economic Opportunity to Create Jobs - Rep. Pelosi
Washington, D.C. – Speaker Nancy Pelosi spoke on the House floor this afternoon in support of the Middle Class Tax Relief Act of 2010, which passed the House by a Bipartisan vote of 234 to 188. Below are the Speaker’s remarks. “Thank you very much, Mr. Speaker. I thank the gentleman [Mr. Levin] for yielding. I commend him for his great leadership in terms of working and being a champion for America’s Working Families, for America’s middle-income families who need so...

Last Call
And here's President Obama's reward for working with the Republicans on that Tax Cut deal. The $858 billion tax deal approved by Congress Thursday is "all candy and no spinach," but at least it shows that President Barack Obama and Republicans can cooperate on fiscal issues. But their new detente will be tested early next year when the Budget Deficit looms larger on the political landscape. Analysts are skeptical this week's pact can be leveraged into a broad deficit-cutting program, and fear th...

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...

Dionne: Krauthammer Heart Obama
As someone who savors the ironies of life and politics, I have gotten a kick out of seeing my conservative colleague Charles Krauthammer emerge -- temporarily, no doubt -- as the Obama White House's favorite columnist. For two weeks running, he has argued how brilliant Obama's Tax Cut deal is, how he swindled Republicans in Congress, and how he has immensely strengthened his hand for the 2012 election. "Holding no high cards," Krauthammer wrote today of the president, "he nonet...

Tax Cuts for Everyone
A $858 billion tax-cut package is headed to President Barack Obama for his signature after the House passed the bill by a 277-148 vote a few seconds before midnight Thursday. The Legislation extends all of the Bush-era Income Tax cuts, which were scheduled to expire December 31, for two years. It also gives workers a one-year Payroll Tax cut and extends emergency Unemployment Benefits for 13 months. The package, which was negotiated between Obama and congressional Republicans, also extends tax...

Meet your new Republican overlords
On Thursday, the House took up the International Protecting Girls by Preventing Child Marriage Act of 2010. The bill would ensure that child marriage is recognized as a Human Rights violation, and develop comprehensive strategies to prevent such marriages around the world. The Legislation seemed likely to garner strong Bipartisan support in Congress, and in the Senate, it did. But last night, the bill was voted down in the House by Republicans who argued the bill is too costly and could lead to ...

Obama Tells GOP They've Had Enough Time on START
In his weekly national address, President Barack Obama urged Congress to pass the Strategic Arms Reduction Treaty, saying Republicans should "show the same spirit of common purpose on our security" they showed in achieving a Compromise on extending Tax Cuts. Not a Subscriber? To continue reading, sign up for a free trial. Heard on the Hill: Who’s the Flake-Out? Ex-Rep. Russo, 12 Employees Out in Cassidy Shake-Up Speaker-designate John Boehner leaves a closed-door meeting of the House Rep...

Congress votes to extend government funding
WASHINGTON (Reuters) - Congress gave final approval on Friday to extending government funding through Tuesday to avoid a shutdown after lawmakers failed to agree on a long-term solution to a stark partisan divide overspending. The measure would pay for government operations beyond Saturday night, when current funding expires. But it merely postpones a fight over spending that is expected to loom large next year, when Republicans will wield greater clout in Washington. Lawmakers have failed to pa...

Obama reaches out to black leaders, says tax-cut deal good for African Americans
As President Obama prepared to sign his $858 billion tax deal Friday, White House aides moved quickly to soothe the anger among liberal constituency groups that bitterly opposed the measure. This Story Obama reaches out to black leaders, says tax-cut deal good for African Americans House passes Tax Cut bill Document: Read the White House fact-sheet Liberals still seething over tax-cuts bill View All Items in This Story View Only Top Items in This Story An e-mail distributed to black leaders d...

Obama to Senate: Ratify START treaty
Published: Dec. 18, 2010 at 6:00 AM President Barack Obama speaks before signing the Middle Class Tax Cut bill in the Eisenhower Executive Office Building, Dec. 17, 2010 in Washington. UPI/Olivier Douliery/POOL WASHINGTON, Dec. 18 (UPI) -- U.S. President Barack Obama Saturday called on the Senate to ratify the new START Treaty, saying the matter is "an urgent national priority." In his weekly radio and Internet address, the president noted the enactment of economic Legislation signed into law Fr...

Republicans Block Spending Package
WASHINGTON — The collapse of a government-wide spending package in the final days of this Congressional session sets up a politically charged fiscal showdown early next year, testing the determination of Republicans about to take over the House with promises to slash an array of domestic programs. Representative John A. Boehner of Ohio vowed Friday that Republicans would continue to focus on cutting spending. The latest on President Obama, the new Congress and other news from Washington ...

Republicans Block Spending Package
WASHINGTON — The collapse of a government-wide spending package in the final days of this Congressional session sets up a politically charged fiscal showdown early next year, testing the determination of Republicans about to take over the House with promises to slash an array of domestic programs. Representative John A. Boehner of Ohio vowed Friday that Republicans would continue to focus on cutting spending. The latest on President Obama, the new Congress and other news from Washington ...

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...

What Will The New Tax Law Mean For You?
H&R; Block breaks it down Associated Press The law extends most of the Tax Cuts for two years, including lower rates for the rich, the Middle Class and the working poor, a $1,000-per-child Tax Credit, Tax Breaks for College Students and lower taxes on capital gains and dividends At the request of The Associated Press, The Tax Institute at H&R Block developed detailed estimates for how the new law will affect families at various income levels next year : —A single Taxpayer making $50,...

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...

Holiday tax bill is law _ help for rich and poor
WASHINGTON (AP) - 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 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 ...

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...

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...

Obama urges nuclear pact passage
President Barack Obama has renewed his call for US senators to ratify an Arms Control treaty with Russia before the Democratic-led Congress breaks up. In his weekly address, Mr Obama said the "safety and security of America" was at stake. The US and Russian presidents signed the new Strategic Arms Reduction Treaty (Start) in April, but ratification has been delayed by disagreements. The treaty requires a two-thirds majority in the Senate to become law. That means that the Democrats nee...

Obama urges nuclear pact passage
President Barack Obama has renewed his call for US senators to ratify an Arms Control treaty with Russia before the Democratic-led Congress breaks up. In his weekly address, Mr Obama said the "safety and security of America" was at stake. The US and Russian presidents signed the new Strategic Arms Reduction Treaty (Start) in April, but ratification has been delayed by disagreements. The treaty requires a two-thirds majority in the Senate to become law. That means that the Democrats nee...

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...

House gives final passage to Obama tax deal (Reuters)
WASHINGTON (Reuters) – The U.S. Congress gave final approval late on Thursday to the deal President Barack Obama and Republicans made to extend expiring Tax Cuts -- a high-stakes gamble to create jobs at a cost of deepening the U.S. Debt. Over objections from many of Obama's fellow Democrats, the House of Representatives, on a 277-148 vote, passed the $858 billion package of renewed Tax Cuts and more Unemployment Benefits in an economy saddled with a nearly 10 percent jobless rat...

Class Warfare
Dec 27, 2010, Vol. 16, No. 15 • By PETER WEHNER Get alerts when there is a new article that might interest you. Democrats are enraged at President Obama for his decision to extend George W. Bush’s Tax Cuts for all Americans, including top income earners. What explains their anger? It cannot be because of concern for the Deficit. After all, Democrats are responsible for an unprecedented two-year spending binge (the United States spent $1.3 Trillion more over the last two-year period...