published Friday, December 17th, 2010

Obama gets tax cut bill

  • photo
    In this photo rendered from video via C-SPAN, shows the final vote tally on the bill to avoid income tax increases on Jan. 1. (AP Photo/C-Span)

By David Espo

The Associated Press

WASHINGTON — Acting with uncommon speed, Congress sent President Barack Obama sweeping, bipartisan legislation late Thursday to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years.

The measure also will cut Social Security taxes for nearly every wage-earner and pump billions of dollars into the still-sluggish economy.

The 277-148 vote came less than 24 hours after the Senate cleared the bill, 81-19.

The legislation was the result of a reach across party lines between Obama and top Republicans in Congress — stubborn adversaries during two years of political combat that ended when the GOP emerged the undisputed winner in midterm elections on Nov. 2.

Rep. Ginny Brown-Waite, R-Fla., called it “a bipartisan moment of clarity” as the House moved toward a vote.

After forcing a delay in the House early in the day, Democratic critics settled for a separate vote in their bid to toughen an estate tax provision they attacked as a giveaway to the very rich. They were defeated, 233-194, with one vote of “present.”

“The president will be able to sign it as soon as he likes,” said Rep. Rob Andrews of New Jersey, who added later on the House floor he would support “an imperfect bill” in hopes of stimulating job creation.

Obama urged the House to approve the measure unchanged, calling the bill a good compromise.

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anniebelle said...

All of you seniors who went rushing to the polls to vote this gang of repuke hooligans in should be happy now. You won't have to worry about COLA anymore because this is the beginning of the end of Social Security and Medicare. And the uber rich get to buy another yacht or island or send their jobs to a slave labor country. But, not to worry, the USA will be begging for those $1.00 a day wages by the time this gang gets through with totally destroying the middleclass in this country.

December 17, 2010 at 5:56 a.m.

anniebelle, what election are you speaking of? The Democrats are STILL in the majority of both Congress and the Whitehouse so who are the hooligans?

This bill is NOT a tax cut although I'm sure Obama will take credit for a tax cut. This bill was passed with nearly equal 'yea' votes (see the graphic above) to avoid raising the income taxe rate. The tax rate WAS NOT CUT.

Why does the MSM have such a hard time understanding this simple fact?

December 17, 2010 at 9:44 a.m.
redbearded said...

How long do tax cuts stay in place before they're called the current tax rate?

December 17, 2010 at 1:56 p.m.
fairmon said...

Anniebelle, there has been no change in who is in charge of both houses and won't be until January. I don't have any value for either party but I hope you are right when you say social security, medicare and other government managed charities will be abolished. I would like to see abolished all grants, subsidies, incentives, deductions, reductions and tax credits. Replace the current system with the fair tax described at the fairtax.org web site which eliminates the IRS and the 11,000+ plus pages of tax regulations.

If we had politicians with the nerve to do that we would be recruiting people to fill the jobs. The wealthy would pay more, those with illegal gains and black market gains, those not reporting income and politicians don't like it so it must be good. It is too transparent for the politicians they couldn't manipulate the system.

December 17, 2010 at 7:10 p.m.
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