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Senate to Vote on $70 Billion Tax Package

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Senate to Vote on $70 Billion Tax Package

Politics

Senate to Vote on $70 Billion Tax Package

Senate to Vote on $70 Billion Tax Package

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  • <iframe src="https://www.npr.org/player/embed/5398106/5398107" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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The Senate is expected to vote Thursday on a bill providing tax cuts worth $70 billion over five years, following approval of the package in the House on Wednesday. The bill extends current capital-gains tax rates for two years and provides relief for millions of taxpayers from facing the Alternative Minimum Tax (AMT).

JOHN YDSTIE, host:

The Senate is expected to vote today on a bill providing tax relief to investors. It would provide tax cuts worth more than $70 billion over five years. The legislation provides a two-year extension of the reduced 15 percent tax rate for capital gains and dividends currently set to expire at the end of 2008.

The bill would also help the millions of taxpayers facing the alternative minimum tax. The bill passed the House yesterday. President Bush has said he will sign it.

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