The bill is a political maneuver to satisfy Democratic supporters who oppose extending tax cuts for the wealthy. Even if the bill passes the House, it has no chance in the Senate, where Democrats need Republican support to pass a tax bill.Sweeping tax cuts enacted under former President George W. Bush expire at the end of the year. A small bipartisan group of lawmakers and Obama administration officials continued negotiating Thursday on a deal that could extend all the tax cuts, at least temporarily.The House passed the Democratic bill by a vote of 234 to 188.
The bill is a political maneuver to satisfy Democratic supporters who oppose extending tax cuts for the wealthy. Even if the bill passes the House, it has no chance in the Senate, where Democrats need Republican support to pass a tax bill.
Sweeping tax cuts enacted under former President George W. Bush expire at the end of the year. A small bipartisan group of lawmakers and Obama administration officials continued negotiating Thursday on a deal that could extend all the tax cuts, at least temporarily.The House passed the Democratic bill by a vote of 234 to 188.
