Senate delves into election-year tax battle - KYTX CBS 19 Tyler Longview News Weather Sports

Senate delves into election-year tax battle

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U.S. Senate U.S. Senate

WASHINGTON (KYTX) - An election year tax fight is taking place on the senate floor.

Democrats are pushing a bill that includes President Obama's goal of extending cuts for couples earning $250,000 a year or less, and letting them expire for higher income earners.

The senate votes are forcing lawmakers to put their position on taxes on the record before voters go to the polls in November.

Republicans are pushing a plan that continues Bush-era tax cuts for all income earners. They call the Democrats' plan a tax-hike on small business and farmers.

If Congress can't reach an agreement before the end of the year, all Americans will be paying more taxes, and drastic cuts to the military budget and domestic programs including medicare and education will kick-in.

 

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