House Extends Tax Cuts for Wealthiest Americans; Agree on 6 Month Budget Extender
Washington, D.C.-- The Republican controlled U.S. House of Representatives voted to extend the Bush-era tax cuts for all income levels, including those who make over $250,000. Last week the Democratic Senate voted to extend the tax cuts only for people who make less than $250,000.
The New York delegation was split almost down party lines. Rep. Bill Owens (D-23rd District) was the only New York Democrat to vote with the New York Republican delegation to extend the tax cuts. All other New York Democrats voted against the measure. A final resolution to this issue is not expected until after the November elections.
In addition, Senate Majority Leader Harry Reid announced that a deal was reached between the White House, Senate and House of Representatives to extend the current federal budget through March 2013, avoiding a potential shutdown fight ahead of November's election.
Congress has adjourned for the next five weeks as members go back to their districts to campaign for reelection and attend to local issues.