Home

Senate Passes Tax Cut Extension

By Scott Sarvay
December 15, 2010 Updated Dec 15, 2010 at 6:41 PM EDT

WASHINGTON (Indiana’s NewsCenter) – The heavily debated tax cuts and unemployment benefits bill has passed the Senate.

The $858 billion tax cut package extends the Bush-era tax reduction that was set to expire at the end of the month.

The package includes a two-year extension of the Bush-era tax cuts, an extension of unemployment benefits for an additional 13 months, cuts the payroll tax by 2 percentage points for a year, restores the estate tax at a lower level and continues a series of other tax breaks.

The measure, which passed 81-19, now advances to the House of Representatives. If the House passes a bill that differs from the Senate version, the revised package would need to return to the Senate for another vote.



What are your thoughts CLICK HERE to leave us a "Your2Cents” comment.

Want to be in the know for the next weather event, the next school closing or the next big breaking news story?

TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet



© Copyright 2013 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.