Effort to extend popular middle class tax cuts gains ground
MARTIN CRUTSINGER, AP Economics Writer
Monday, September 20, 2004
(09-20) 17:49 PDT WASHINGTON (AP) --
Republican leaders, eager to deliver a pre-election victory to President Bush, moved closer to agreement Monday night on legislation needed to extend three popular middle-class tax cuts that are set to expire this year.
Senate Finance Committee Chairman Charles Grassley announced that a joint House-Senate conference committee, which will work out differences between the two chambers, will meet on the tax legislation for the first time Tuesday. Officials reported agreement was close on the major provisions of the legislation.
Under one optimistic scenario, the conference committee will be able to reach agreement on a bill in time for the full House to vote on the measure Wednesday and for the Senate to vote on it Thursday.
Pressure is rising on lawmakers to act because if Congress does not approve extensions of the tax relief measures before it adjourns, three of the most popular parts of President Bush's tax cut program would expire at the end of this year.
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http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/09/20/national1741EDT0670.DTL