Senate bill stops many tax hikes, but leaves big issues pending | Redux

Senate bill stops many tax hikes, but leaves big issues pending

Filing Taxes - 1040 Form

Filing Taxes – 1040 Form by Philip Taylor PT
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Excerpt:

The fiscal cliff compromise passed by the Senate in the early morning hours Tuesday would mute much but not all of the negative economic impact of going over the cliff. Most prominently, it would extend the Bush-era tax cuts for the vast majority of Americans and spare tens of millions from the Alternative Minimum Tax. But the deal, crafted over the long weekend by Vice President Joe Biden and Senate Minority Leader Mitch McConnell, still must be approved by the House. And while it would provide some short-term certainty, it would leave a range of big issues unaddressed. For instance, when and how will lawmakers raise the country’s debt ceiling? From all indications, the coming fight in February could be ugly. The legislation also creates a new cliff deadline over spending cuts around the same time the debt ceiling will need to be raised.

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URL Provided Keywords:

  • amt
  • bush tax cuts
  • cbo
  • CNNMoney
  • congress
  • congressional budget office
  • debt ceiling
  • deficit reduction
  • doc fix
  • estate tax
  • fiscal cliff
  • jeanne sahadi
  • middle class
  • obama
  • sequester
  • spending cuts
  • White House

Site Provided Desc:

The fiscal cliff compromise passed by the Senate in the early morning hours Tuesday would mute much but not all of the negative economic impact of going over the cliff.

URL Provided Title:

Senate bill stops many tax hikes, but leaves big issues pending

Source : rss.cnn.com

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~ by vandal3di3go on February 19, 2013.

 
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