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.


52° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

 

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!

 

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

Bosworth's Campaign Says She Raised $772K In 1Q

4/16/2014 7:48 PM

The campaign for Republican U.S. Senate candidate Dr. Annette Bosworth says she raised slightly more than $772,000 during the first three months of 20...

Full Story
Rep. Noem Headed To Asia

4/18/2014 4:37 AM

Republican Rep. Kristi Noem is headed to Asia with several other members of Congress. She's one of eight Republicans and one Democrat in a grou...

Full Story
Nelson Raises More Than $28K During First Quarter

4/16/2014 7:50 PM

State Rep. Stace Nelson of Fulton raised more than $28,400 for his campaign for a U.S. Senate seat during the first three months of 2014.

Full Story
Rounds Raises About $724K In 1Q, Has $1M On Hand

4/21/2014 1:43 PM

Former Gov. Mike Rounds raised about $724,000 during the first three months of 2014 for his campaign for a U.S. Senate seat.

Full Story
Legislative Leaders Push For Adjournment

4/20/2014 3:02 PM

Legislative leaders say they could end the session this week despite disagreements over budget bills and Gov. Terry Branstad's policy priorities.

Full Story


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED