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Senate Takes Up House Tax Rebates and Business Breaks
Senate action will continue on the House approved Carter plan to boost the economy with up to $50 rebates for individuals and a new business tax cut. The package totals $43.1 billion over 31 months and expands rebates to Welfare and Social Security recipients, with income phaseouts and a permanent standard deduction change for 45.5 million filers. The House also backed a new job-stimulating business tax cut, paying up to $1,680 of first year wages for 24 new workers.
MENTIONED IN THIS ARTICLE
Washington
Senate
Carter
House
Senate Finance Committee
Ways and Means