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Senate approves 70 billion tax cut package
Senate approved a 70 billion election year tax cut package by 54 to 44, extending for two years the 15 percent rate on capital gains and dividends and preserving AMT relief for upper middle income families. The bill also extends two years of small business write offs up to 100000 dollars for investments and equipment, with political lines drawn between Republicans praising lower taxes and Democrats warning of windfall to the wealthy and corporate oil interests.
MENTIONED IN THIS ARTICLE
Washington
Senate
Bush
Olympia J. Snowe
Maine
Lincoln Chafee
Rhode Island
George Voinovich
Ohio
Ben Nelson
Nebraska
Bill Nelson
Florida
Mark Pryor
Arkansas
Gordon Smith
Oregon
Majority
Bill Frist
R-Tenn
Frist
GOP
Treasury
John Snow
Charles Schumer
D-N.y
Charles Grassley
Iowa