Tags
Elijah Cummings, Estate tax, Government spending, Government Waste, H.R. 4853, Pelosi, Progressivism, Social Security Payroll Tax, Tax Credit, Tax Cuts, Taxes, Taxing the Wealthy, UNEMPLOYMENT
Late last night, the House voted 277 to 148 in favor of passing H.R. 4853 extending Bush tax rates for two years, unemployment benefits for 13 months and cutting the social security payroll tax for two years.
Yeas votes: Democrats, 139, Republicans, 138
No votes: 112 Democrats, 36 Republicans
Yesterday, the Senate approved the $858 billion tax plan, by a vote of 81 to 19.
While the legislation will guarantee unemployed workers up to 99 weeks of jobless benefits through the end of next year, said extension of benefits will go only to individuals who have been laid off more than 26 weeks but less than 99. Those who have reached the 99-week limit for jobless benefits will receive no additional benefits.
“At the insistence of Republicans, the plan includes an estate tax that would allow the first $10 million of a couple’s estate to pass to heirs without taxation. The balance would be subject to a 35 percent tax rate.
Many House Democrats wanted a higher estate tax, one that would allow couples to pass only $7 million tax-free, taxing anything above that amount at a 45 percent rate. They argued that the higher estate tax would affect only 6,600 of the wealthiest estates in 2011 and would save $23 billion over two years.
House Speaker Nancy Pelosi, D-Calif., called the estate tax the “most egregious provision” in the bill and held a vote that would have imposed the higher estate tax. It failed, 194-233.
Rep. Elijah Cummings, D-Md., said he thought the White House could have gotten a better deal….”
Whining a$$ Progressives despise Democracy and justice prevailing.
PUMABydesign001's Blog 