Washington to Ease Tax Burden

Friday, January 25th, 2008...12:08 am


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 Congress has announced a new tax return package aimed at providing the economy with a much needed boost. Under the new negotiated agreement between Congress and U.S. Treasury Secretary Henry Paulson, tax payers could see as much as $1200 checks in the mail by the end of July; even more if they have children. President Bush was quick to endorse the deal, claiming that it provided the financial policies required in stimulating local economy. House Speaker Nancy Pelosi claims that $28 billion will greatly aid 35 billion families that would not have received the same monetary help without the new agreement in place. “I can’t say that I’m totally pleased with the package, but I do know that it will help stimulate the economy. But if it does not, then there will be more to come,” Pelosi said. Americans with an annual income under $75,000 would be eligible for the rebate. The cap would be adjusted for children and other social circumstances. Not all political figures were advocates of the new deal. Many senior Democrats were perturbed that unemployment extensions were omitted from the proposal. Finance Committee Chairman Sen. Max Baucus insists that leaving out unemployment was a mistake and the he hopes to draft a separate proposal the will address unemployment next week. Majority Leader Harry Reid is under the impression that the Finance Committee will also attempt an inclusion of nutrition aid, state relief and infrastructure development into the package. Bush’s initial proposal would have left Americans who were not in a tax bracket out in the cold. There are an estimated 30 million households in the United States who are not taxed due to low wages. Republican Leader John A. Boehner was adamant that the upper-middle class be included in the venture, where as Nancy Pelosi was forced to surrender her demand for a food stamp increase in exchange for the addition of all low income Americans who were not required to pay tax. The package has garnered sever criticism from union leaders and liberal activists who were strongly in favor of unemployment extensions, food stamps and other financial incentives that did not make the cut.  

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