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.


33° 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!

 

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





Sponsored
Find Local Businesses on KELO Pages!

View politics

You may also like

Iowa Governor Terry Branstad Hospitalized

1/26/2015 12:37 PM

68-year-old Branstad fell ill at an event on Monday, and was transported by ambulance to Iowa Methodist Medical Center in Des Moines.   

Full Story
Congressional Delegation Reacts To Obama's Speech

1/21/2015 6:23 AM

Members of South Dakota's all-Republican congressional delegation say ideas presented by Democratic President Barack Obama in his State of the Uni...

Full Story
North Dakota Senator Invites Couple To State Of Union

1/20/2015 10:20 AM

Each senator gets one ticket for a guest, and Minnesota Rep. Collin Peterson gave Heitkamp his ticket so she could invite both husband and wife.

Full Story
Republican Senators Want To Phase Out Social Security Tax

1/20/2015 1:38 PM

Minnesota is one of just seven states that apply an income tax to Social Security. Seniors who make less than $25,000 a year are exempt.

Full Story
U.S. House GOP Abruptly Drops Vote On Abortion Bill

1/22/2015 6:20 AM

Republican leaders were forced late Wednesday to abruptly drop plans for House debate of legislation criminalizing most abortions after 20 weeks of pr...

Full Story


Events