Saturday, 4 December 2010

Today in the Senate


With the Senate’s lame-duck session ending in a couple of weeks, Senator’s are working into the weekend on tax-cut legislation and have scheduled votes on proposals to extend some of the tax cuts scheduled to expire at the end of the month.

Senators will first take a procedural vote to limit debate and move forward on an amendment from Sen. Baucus (D-MT) to permanently extend the Bush-era tax cuts on incomes up to $200,000 for individuals and $250,000 for married couples, as well as tax breaks for capital gains and dividends. If the vote fails then the Senate will move on to consider Sen. Schumer’s (D-NY) amendment to extend the current tax rates to all income levels for Americans earning up to $1 million.

The White House and selected members of both parties of congress continue to meet to see if they can reach some agreement on tax cuts, an extension of unemployment benefits and how to fund the government for the rest of the fiscal year.

Senate: C-SPAN2 at 8:15am ET (1-15pm UK time)