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23 Jul

Tax cut votes prelude to bigger “fiscal cliff” fight

WASHINGTON (Reuters) - The Congress is set to begin debating this week whether to extend hundreds of billions of dollars in expiring tax cuts in what amounts to a round of shadow boxing in advance of the real battle after the November elections. Both the Democratic-led Senate and Republican-led House of Representatives will take up the expiring tax rates in coming days, but the outcomes will be very different and will settle nothing. Still the votes may provide some hints on the prospects for party cohesion - especially for Democrats - on the tax issue after the election. …

Original post by Reuters and software by Elliott Back



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