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Tax Cuts or Compromises?

Date: 11/22/2005 | Category: Business | Author: Heather Long

It’s time for the House to go into holiday recess for Thanksgiving. The recess and the postponement of the House vote on another $70 billion in tax-cuts package will allow business lobbyists two weeks to try and woo GOP centrists into getting back onboard with the tax cut package.

These corporate tax cuts are all a part of Bush’s economic plan. There are compelling statistics that suggest tax cuts generate revenues, but the political fallout of Bush’s falling approval ratings have Republicans scrambling for cover. Business lobbyists on the other hand argue that failure to pass the tax-cuts and add the extension to the 15 percent tax rates on capital gains and dividend incomes past their 2008 expiration date could have unwanted consequences on the stock market.

When the House returns on December 5th, lobbyists hope that the first order of business will be reconciliation on the tax cuts and passage before the House adjourns for the year. This information offered by https://www.incparadise.net, looking out for all your incorporation needs.

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