House considers &#36;1.3B tax cut package
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House tax writers will consider small business tax cuts worth $1.3 billion over 10 years in hopes of freeing minimum wage legislation currently stuck in an impasse between the House and Senate.
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A bill that would end a nasty trade war with Europe and shower more than &#36;140 billion in tax breaks on American companies is nearing congressional approval.
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Democrats and Republicans are anxious to get $300 to $1,200 in tax-rebate checks to wage earners by spring.
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The looming political battle over how to reform the tangled US income tax code could get ugly. But one option, a tax aimed at boosting savings, holds promise.
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The centerpiece of an economic aid plan should be a tax cut for the middle class, and the overall proposal could include relief for business and spending incentives for the unemployed, a leading Democratic lawmaker said Sunday.
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House and Senate negotiators hope to wrap up work on a major rewrite of corporate tax law that would end a nasty trade dispute with Europe while showering more than &#36;130 billion in tax breaks on a wide variety of businesses from ethanol producers to movie makers.
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Representative Charles B. Rangelâs proposal has shaped the debate over whether to keep President Bushâs tax cuts.
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The U.S. House of Representatives on Tuesday overwhelmingly approved a plan to give the U.S. economy a $146 billion election-year boost through tax rebates and other measures to stave off a possible recession by boosting business and consumer spending.
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Democratic and Republican congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per household and business tax cuts to jolt the slumping economy.
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President George W. Bush would like to see a package of tax cuts and other measures totaling around $140 billion to shore up the fragile U.S. economy, a White House document showed on Friday.
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WASHINGTON Sept. 23, 2004 - Legislation to extend several popular middle class tax cuts cleared a House-Senate conference and could be on President Bush&#39;s desk within days, handing him a major legislative
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House Democrats looking to spare millions of middle-class families from the expensive bite of the alternative minimum tax are considering adding a surcharge of 4 percent or more to the tax bills of the nation's wealthiest households.
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Republican House leaders expressed confidence Wednesday that they will be able to extend three of popular tax cuts that are set to expire at the end of this year.
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It's not like a business group to oppose the largest possible tax breaks for its members. But when it comes to sweetening a minimum wage bill with small business tax relief, the U.S. Chamber of Commerce is backing a House proposal that is a fraction of the size of a tax package passed by the Senate.
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Major features in the &#36;145.94 billion tax cut package signed by President Bush on Monday, with the estimated 10-year cost of each item:
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WASHINGTON - The House's leading Democratic tax writer will propose a sweeping overhaul of the tax code that would increase taxes on many people with incomes above $200,000 but cut them for most others.
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Democrats running Congress and the Bush administration reached a tentative deal Thursday on $300-$1,200 tax rebates and business tax cuts to jolt the slumping economy