Agricultural News
Tax Bill Debate in Jeopardy
Thu, 16 Dec 2010 17:28:51 CSTThursday, the U.S. House started then stopped debate, delaying further action on the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Wednesday night the House Rules Committee had decided to allow a vote on changing the estate tax provision to the levels in the previously passed House bill. If approved, the changed bill would then go back to the Senate. If rejected, the House would then hold a separate vote on the Senate version, and with approval send the bill to the President.
Then Thursday, the House Democratic leadership pulled the bill when it was unclear if enough of their caucus would agree to the rules. Republicans traditionally oppose any rules set by Democratic leaders, even on legislation that has GOP support, arguing they want more time to debate and possibly make changes.
House Democratic leaders say the package will be approved one way or another. Other Democrats predict the tax plan would be passed as is, making clear that their initial fury at the prospect of extending Bush-era tax rates even on the highest incomes had given way to acceptance that the White House had negotiated the best compromise it could.
WebReadyTM Powered by WireReady®NSI
Top Agricultural News
More Headlines...
