Items Added to Tax Cut Bill to Draw Support

From USAToday, via CourierPostOnline.com:

As Democrats in Congress battled in public over a proposal to extend Bush-era income tax cuts, a group of Democratic lawmakers are pushing to make subtle changes to help sweeten the pot.

The agreement worked out between President Obama and Republican lawmakers would extend the expiring cuts for all taxpayers for two years, continue jobless benefits for the long-term unemployed and cut Social Security payroll taxesnext year.

Many Democrats have balked at the compromise, particularly a decision to extend cuts for families earning more than $250,000 in taxable income. House Democrats voted Thursday during a closed meeting against bringing the deal to the floor unchanged.

“We will continue discussions with the president and our Democratic and Republican colleagues in the days ahead to improve the proposal before it comes to the House floor for a vote,” House Speaker Nancy Pelosi, D-Calif., said after the vote.

Read the rest here: Items Added to Tax Cut Bill to Draw Support

A few highlights:

Tax credits for renewable electricity projects and ethanol, aimed at spurring hybrid car use.

Extension of the Build America Bonds program

There’s more at HuffPo: http://www.huffingtonpost.com/2010/12/11/obama-tax-cut-bill-turnin_n_795350.html

 

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