Senate tax bill mirrors Obama-Republican deal

[bigtree]

Thu Dec 9, 2010 7:58pm EST

WASHINGTON Dec 9 (Reuters) - Senate Democrats on Thursday unveiled a tax bill that largely reflects the deal hammered out by President Barack Obama and Republicans earlier in the week, and adds an additional subsidy for ethanol.

The measure would broadly extend income tax breaks for two years and also includes an extension of jobless benefits and other tax breaks. It does not include an extension of the Build America bond program that Democrats had sought.


read: http://www.reuters.com/article/idUSWEN428120101210

[Jackpine Radical]

1. Does it have the payroll tax "holiday"

(AKA SS Poison Pill)?

[bigtree]

4. dunno

"There are some other provisions that senators want but essentially the four corners of the agreement are what was negotiated between the White House and Sen. McConnell — We’ll see. Very little might be added,” said Senate Finance Committee Chairman Max Baucus (D-Mont.), in reference to Senate GOP Leader Mitch McConnell (Ky.)."

Sen. Kent Conrad (D-N.D.), an influential member of the Finance Committee, said it would be very difficult to change major provisions of the agreement, such as language setting the estate tax at 35 percent only for inheritances that exceed $5 million.

“I think it’s very hard to get things changed,” he said.

http://thehill.com/homenews/senate/133029-senate-democrats-move-ahead-with-tax-package-despite-house-objections

[MindandSoul]

2. Does it have the "inheritance tax relieve up to $5 millions?"

[Occam Bandage]

3. An additional subsidy for ethanol? The 2012 primaries must be coming up.

Thanks, Iowa!

[Toucano]

5. They do it with mirrors? I've always wondered how that trick was performed.

Even David Copperfield hasn't turned an ass into an elephant before.