–House Approves GOP Plan On A 256 To 171 Vote
–House Earlier Rejects Democratic Plan To Pass Senate Tax Cut Bill
–House To Vote Thursday On GOP Plan To Expedite Tax Reform in 2013
By John Shaw
WASHINGTON (MNI) – The U.S. House of Representatives voted
Wednesday to approve Republican legislation to renew all Bush-era tax
cuts for another year.
The House approved the GOP tax cut bill on a 255 to 171 vote.
Earlier in the day, the House rejected a Democratic plan to extend
Bush tax cuts only for those families making $250,000 or less.
The Democratic plan was defeated on an 170 to 257 vote.
The Senate approved this same Democratic bill last week on a 51 to
48 vote.
During the House debate, both parties repeated familiar stances on
tax policy.
House Ways and Means Committee Chairman Dave Camp said the
Republican plan offers “the path to job creation.” The Democratic plan,
he charged, would raise taxes on nearly a million people and small
businesses.
House Minority Leader Nancy Pelosi said the GOP plan is an unneeded
sop to the wealthy, forces a fiscal confrontation with President Obama,
and propels the nation toward the much-discussed fiscal cliff at the end
of the year.
“Let’s not go anywhere near the edge of that cliff,” Pelosi said.
Both the tax cut bill the House passed this week and the measure
the Senate approved last week are mostly partisan efforts to frame the
tax cut debate after the November elections.
The House will vote on legislation Thursday that would create an
expedited process for considering tax reform next year.
Congress is scheduled to begin its August recess on Friday and
return on Sept 10.
** MNI Washington Bureau: (202) 371-2121 **
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