The tax compromise bill that largely reflected what was negotiated between the White House and Congressional Republicans passed the Senate yesterday. In response to the bill's passage Senator Orrin Hatch (R-UT) called it the "right thing to do" and Senator Chuck Grassley (R-IA) echoed the sentiment adding that "the only thing better . . . would be to make tax relief permanent." Senate Majority Leader Harry Reid (D-NV) took the opportunity to laud the bills benefit to the economy but criticized Republicans for "tax giveaways to millionaires." Congressional Democrats are expected to split off the provisions dealing with the estate tax into a separate vote in attempts to change, or at least register their opposition to, the White House's compromised estate tax.
See "Hatch Statemetn on Senate Passage of Tax Bill," found at http://hatch.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=eb526ad7-1b78-be3e-e0b7-3e637870152f; "Senate Vote on the Tax Agreement," found at http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=30252; "Reid: Democrats Fighting for the Middle Class, Republicans Pushing Giveaways for CEOs," found at http://reid.senate.gov/newsroom/senatepassagetaxrelief.cfm.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
See "Hatch Statemetn on Senate Passage of Tax Bill," found at http://hatch.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=eb526ad7-1b78-be3e-e0b7-3e637870152f; "Senate Vote on the Tax Agreement," found at http://grassley.senate.gov/news/Article.cfm?customel_dataPageID_1502=30252; "Reid: Democrats Fighting for the Middle Class, Republicans Pushing Giveaways for CEOs," found at http://reid.senate.gov/newsroom/senatepassagetaxrelief.cfm.
Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.
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