Friday, May 09, 2003

House OKS $550 Billion Tax-Cutting Bill

Republicans muscled a tax cut bill through the House on Friday that they said would right the teetering economy, overcoming Democratic arguments that it would swell federal deficits already expected to set a record this year.

The legislation, which would reduce taxes by $550 billion through 2013, was approved by a 222-2-3 party-line vote. The Republican-led Senate plans to vote on a similar but smaller measure next week, after which the two chambers — joined by White House officials — will negotiate a final package. [AP]
Good. But it will be interesting to see what the Senate and conference committee now does.

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