House Passes Symbolic Tax Bill

The United States House of Representatives passed a Democratic bill 234-188 on Thursday that would extend tax cuts for some, while letting the cuts expire for wealthier Americans.

The bill does not have a chance of passing the Senate, where Democrats would need Republican support to pass the measure.

The tax cuts were initially enacted by former President W. Bush and are scheduled to expire at the end of the year. Negotiations continue in Washington over the possibility of temporarily extending all Bush-era tax cuts.

Frank has more on the maneuvering at It's All Politics.



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