Washington Post Staff Writer
Friday, December 17, 2010; 12:40 AM
Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years tax breaks enacted under president George W. Bush and to provide a fresh boost of federal support to the tepid economic recovery.
The package, brokered by President Obama and Republican leaders in the wake of the November elections, angered many Democrats, who have long argued that the Bush tax cuts were skewed to benefit the wealthy. But their last-minute campaign to scale back the bill’s benefits for taxpayers at the highest income levels failed, and the House passed the measure 277 to 148, with 112 Democrats and 36 Republicans voting “no.”
“This bill, the president of the United States believes and I believe, will have a positive effect on the economy,” said House Majority Leader Steny H. Hoyer (D-Md.). “I will vote for this bill because I don’t want to see middle-income working people in America get a tax increase, because I think that will be a depressant on an economy that needs to be lifted up.” Source
