Congress Sends Bush Sweeping Tax Cuts -

Boomers International Board: Election - Politics: Congress Sends Bush Sweeping Tax Cuts -
Top of pagePrevious messageNext messageBottom of pageLink to this message  By YYDD on Saturday, May 26, 2001 - 01:39 pm:

WASHINGTON (Reuters) - In its last major vote before switching to Democratic control, the Senate on Saturday gave final congressional approval to a sweeping $1.35 trillion tax cut package that is President Bush's top priority.

The biggest tax break in two decades, the compromise package would give households a refund of up to $600 this year, would reduce most income tax rates across-the-board by three percentage points starting July 1, 2001, and create a new 10 percent bracket.
``It truly is a monumental achievement,'' said Marshall Wittmann of the conservative Hudson Institute.

In a rare weekend session that capped the tumultuous week on Capitol Hill, the Senate cleared the measure easily with 12 Democrats joining Republicans. While the vote was not yet closed, the measure so far had passed 57-34.......

The House of Representatives earlier approved it 240-154 after staff and some lawmakers worked through the night to assemble paperwork for the final deal that House and Senate negotiators struck late on Friday.......

In a move that Bush said would give the U.S. economy ``a much needed shot in the arm.''

-----------------------------
President George W. Bush never cease to amaze me.

Only in the Whitehouse for 100+ days and he
already accomplished many of his campaign promises.

yydd


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