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All together now: "Thank you, Congress."
Yesterday, the House passed three new tax packages with enormous bi-partisan support:
- $31 billion (for 15 million households) by extending an AMT limitation, which passed 414-4
- $7 billion in hurricane-inspired tax breaks for the Gulf Opportunity Zone
- $153 million in tax breaks for military personnel
Republican leaders portray the tax bills -- for the hurricane-ravaged Gulf Coast, affluent investors, Iraqi combat troops, and taxpayers who otherwise would be hit by the alternative minimum tax -- as vital to keeping the economy rolling.
''Our economic policies have done the trick," said Representative Deborah Pryce, an Ohio Republican. ''We are in the middle of one of the strongest economies this country has ever seen."
Today, the House votes on the $56 billion tax package I've been touting (often) as superior to its counterpart in the Other Body. It certainly won't enjoy the nearly unanimous support yesterday's bills did, but its passage would be another shot in the arm for our growing economy.
Update: Growth wins 234-197. Huzzah. The vote went virtually straight down party lines, with only 9 Democrats supporting this pro-senior legislation.
Elsewhere: Bulldog Pundit is reliably unconcealed.
Handcrafted by Flip on December 8, 2005 |
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» House OKs massive tax breaks to aid Gulf Coast from Unpartisan.com Political News and Blog Aggregator
WASHINGTON The House on Wednesday approved a multibillion-dollar package of tax breaks inten [Read More]
Tracked on Dec 8, 2005 10:54:36 PM
