User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


42° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Back to all news

Politics

Find local businesses
on the KELO Pages!

 

Most Popular Today


Tax Relief Extension Waiting For House Vote

January 1, 2013, 5:03 PM by Hailey Higgins

Tax Relief Extension Waiting For House Vote
WASHINGTON -

Following hours of meetings, House Republicans are taking a break and deciding their next move on whether to approve the Tax Relief Extension Act.  The US Senate overwhelmingly approved a compromise early Tuesday morning.

Now, if the measure passes the House, the US will avoid a fiscal cliff of across-the-board tax increases.

After months of debate, the Senate began voting on the bill in the early morning hours of New Year's Day. The measure would raise taxes by about $600 billion and delay across-the-board automatic spending cuts.

If the bill eventually becomes law, the Bush-era tax cuts will be permanently extended for everyone making less than $400,000 a year and families making less than $450,000 a year.

It extends the child tax credit, earned income tax credit and a tax credit for college tuition.

The unemployed would receive long-term benefits for one year. It also allows a two-percent cut in the payroll tax to lapse, restoring it to 2010 rates.

It also delays more than $100 billion worth of spending cuts for two months that would strike the Pentagon and domestic agencies this week.

Both of South Dakota's Senators voted in favor of it.

Senator Tim Johnson released a statement saying, "The bill I voted for is not perfect, but it will keep tax rates the same for the vast majority of Americans."

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View politics

You may also like

Senate Defeats Keystone XL Bill

11/18/2014 5:24 PM

The Democrat-controlled Senate has defeated a bill to approve the Keystone XL oil pipeline.

Full Story
Weiland Pitches Donors To Continue Election Fight

11/17/2014 10:47 AM

Former Democratic U.S. Senate candidate Rick Weiland doesn't appear to be exiting the political stage quietly.

Full Story
US Senate Shoots Down Keystone XL Pipeline

11/18/2014 6:16 PM

Democratic U.S. Sen. Tim Johnson could have been the vote to pass the Keystone XL pipeline through the upper chamber but opted to oppose the project.

Full Story
SD Open Meetings Panel To Hear 3 Complaints

11/18/2014 5:47 AM

South Dakota's Open Meeting Commission gathers Friday in Sioux Falls to consider three complaints against local government panels.

Full Story
White House Indicates Obama Would Veto Pipeline Bill

11/18/2014 3:00 PM

The White House is indicating that President Barack Obama would veto legislation approving the Keystone XL oil pipeline.

Full Story


Events