Monday, December 10, 2007

Bush Lobbies for Tax Relief Bill

Dec. 10, 2007 (Associated Press) -- WASHINGTON - President Bush pushed the House on Friday to follow the Senate in passing a bill to prevent millions of taxpayers from paying an average of $2,000 more to the Internal Revenue Service.

The Senate on Thursday approved a one-year fix for the alternative minimum tax , though without matching the cost of the tax relief with new tax revenues. The Democratic plan would have raised taxes on investors to pay for the AMT fix.

Without the fix, an estimated 25 million people would be subject to the higher AMT tax, up from 4 million in 2006. READ ON->

No comments: