The Senate passed a tax-cut bill that was set to expire:<\/p>\n
The bill mostly extends tax cuts that were given a short lifespan when awarded in 2003 or are renewed each year anyway. Voters won’t feel direct results before Election Day – and in the case of investors, until the next president is about to be sworn in, in 2009. <\/p>\n
The bill passed the Senate on Thursday by a 54-44 vote, and Bush is expected to sign it next week. He said in a statement that the bill “prevents an enormous tax hike that the American people do not want and would not welcome.”<\/p>\n
The legislation provides a two-year extension of the reduced 15 percent tax rate for capital gains and dividends, currently set to expire at the end of 2008.<\/p>\n<\/blockquote>\n
Read the rest here<\/a>.
\nNow, why didn’t they just make the taxes permanent? Are they playing presidential election year politics? Elect us or you’ll get a tax increase?
\nDoes anyone know why they did this? Not enough votes? Christopher Taylor<\/a>, you’re all over the net, do you know?<\/p>\n","protected":false},"excerpt":{"rendered":"The Senate passed a tax-cut bill that was set to expire: The bill mostly extends tax cuts that were given a short lifespan when awarded in 2003 or are renewed each year anyway. Voters won’t feel direct results before Election Day – and in the case of investors, until the next president is about to…<\/p>\n","protected":false},"author":307,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-703","post","type-post","status-publish","format-standard","hentry","category-life-under-the-sun"],"yoast_head":"\n
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