Congress Averts Higher Tax Bill for Middle Class
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The alternative minimum tax has ensnared a growing number of middle-class Americans in recent years.
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The U.S. Congress was forced to pass a temporary measure keeping the government open on Wednesday after one embarrassing clause allowing lawmakers to see individual tax returns held up a crucial &#36;388 billion spending bill.
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The chairman of the House taxwriting committee said Tuesday he would be willing to link tax breaks for small business to a hike in the minimum wage but that the $8 billion tax package adopted by the Senate was unacceptable.
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WASHINGTON - Legislation to extend several popular middle class tax cuts cleared a House-Senate conference and could be on President Bush's desk within days, handing him a major legislative victory in the closing weeks of the presidential campaign.    The $145.9 billion package marked the fourth significant tax cut package that the president has championed since taking office...
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WASHINGTON - The Senate on Sunday removed the last major hurdle stalling passage of the most sweeping overhaul of corporate taxes in nearly two decades.    By a 66-14 vote, lawmakers agreed to end the delaying tactics used by opponents of the tax bill...
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A plan to send $500-$1,000 rebates to all but the richest taxpayers advanced in the Senate Wednesday after Republicans and Democrats teamed to add aid for disabled veterans, the elderly and the unemployed to a House-passed economic recovery bill.
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The House Ways and Means Committee yesterday approved a modest package of tax breaks for restaurants and small businesses that would be affected by an increase in the federal minimum wage, breaking a logjam with the Senate that has delayed passage of one of the Democrats' top legislative priorities.
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The US Congress on Thursday passed legislation to extend popular tax cuts proposed by President Bush. The measure keeps the per child tax credit at $1,000 and upholds tax relief for both married couples and many individuals.
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House-Senate negotiators late Wednesday approved extending three popular middle class tax cuts and Republicans, anxious to get the bill to President Bush, predicted swift passage in both chambers of Congress. The conference panel approved the bill after overriding objections from Democrats who said the tax cuts should be paid for by tax increases in other areas, limiting its impact on the government soaring budget deficit.
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The top U.S. congressional tax writer proposed sweeping tax legislation on Thursday that would repeal a tax for the rich that has been hitting more middle-class Americans and replace it with a new tax on high-income earners.
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The Republican-controlled Senate smothered a proposed election-year increase in the minimum wage Wednesday, rejecting Democratic claims that it was past time to boost the &#36;5.15 hourly pay floor that has been in effect for nearly a decade.
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The House on Thursday passed a &#36;145.9 billion package of tax relief to extend three popular middle-class tax cuts, giving President Bush his fourth major tax victory since taking office.
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Key House leaders are pushing to sharply limit the scope of the alternative minimum tax, providing relief to many families who already pay the unpopular levy as well as millions more who would be hit for the first time next year.
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Congress last week passed legislation that extends by three years the prohibition of states and localities from imposing &quot;discriminatory&quot; taxes on electronic commerce, and the ban on Internet access taxes.
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A $1.3 billion small-business tax  cut package aimed at winning the first minimum wage increase in  more than a decade advanced in the U.S. House of  Representatives on Monday.
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The Senate voted overwhelmingly today to increase the federal minimum wage for the first time in nearly a decade, but added tax breaks for small businesses that are unacceptable to House leaders, preventing Democrats from claiming a quick victory on one of their top legislative priorities.
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A provision in the tax bill that Congress passed last week would reduce taxes at two military contractors by nearly $500 million over 10 years.