US Tax Bill Passes, On To The President

Finally things have started working for Obama as well as for Americans.

277 votes of the House of Representatives has passed the Tax bill and endorsed the negotiated tax cut deal by congressional Republicans and President Obama. 148 votes opposed the bill.

The Senate has also passed a same bill a ¬†few days back and now the Tax bill has moved to the Oval office for president Obama’s signature.

With the tax bill passing, the Bush administration’s tax breaks will remain intact for next two years. The unemployment benefits and insurance that millions of Americans count on, will be extended for one year and one month.

Although these are all short term benefits, the cost does not come cheap.  According to the statistics, these short terms benefit will cost around $858 billion in the next ten years .

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Posted by N.Desiree on Dec 18 2010. Filed under Featured News, US. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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