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.


38° 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

Stephen Colbert Focuses On South Dakota's U.S. Senate Race

10/14/2014 4:03 PM

The U.S. Senate race in South Dakota is getting more national attention.

Full Story
Governor's Chief Of Staff Is Leaving Office

10/15/2014 10:32 AM

Gov. Dennis Daugaard announced today that his chief of staff Dusty Johnson will leave state government next month.

Full Story
Thune Calls For West Africa Travel Ban Over Ebola

10/15/2014 3:59 PM

South Dakota Sen. John Thune says the U.S. should ban travelers from three West African countries where an Ebola epidemic is spreading.

Full Story
Pressler Endorsed By 1970s Abscam Sting FBI Agent

10/15/2014 2:05 PM

U.S. Senate hopeful Larry Pressler has been endorsed by the lead supervisor of the 1970s Abscam investigation that led to the convictions of some memb...

Full Story
A Look Back at 2006 Gay Marriage Ban

10/16/2014 10:00 PM

Arguments begin in a hearing for the State's request to drop a lawsuit from six couples, challenging the amendment that bans gay marriage.

Full Story | Watch


Events