House Approves $1.8B Tax Cut Package

The House overwhelmingly approved business tax breaks worth $1.8 billion over 10 years on Friday, a key step toward forging a congressional compromise on increasing the minimum wage

The vote on the tax cuts was 360-45.

Passage of a wage hike for the lowest-paid workers now depends on how quickly the House and Senate work out differences between their tax packages. The Senate tax breaks — worth $8.3 billion — are more than four times bigger than the ones passed in the House.

Senate Finance Committee Chairman Max Baucus (news, bio, voting record), D-Mont., said House and Senate negotiators could reconcile differences in the bills within two or three weeks.

"The minimum wage provision is going to trump all of this and is going to drive us to get this thing done pretty quickly," Baucus said.



http://news.yahoo.com/s/ap/20070216/ap_on_go_co/minimum_wage_7

provided that its actually matched to their increased labor costs.

PS: I own a business. Where are MY tax cuts, Mr/Ms Congresspeople, and Mr/Ms Senators? I haven't seen even ONE in the sixteen years I've been in business.

...Oh, now I get it. The cuts are only for companies that make big contributions to campaigns? OK. Sorry I asked.

Redstone

It's rare that I see a business owner 'get it.' I see alot of complaining and thinking that voting Republican is some how going to benifit them. But if your not a major player, the republicans don't care nothing about you, except your vote.

not enough left over to buy a yacht for Duke.

And even if I DID have a larger company, the Repubs wouldn't fool me.

Redstone

That is the definition of a small business one that has less than 500 and 750 for some others.
So you see when the breaks are given out tho those that have 400 or 450 there is little left for those that have 10 or so.

Redstone

No, really. Get mine and 499 other DUers, then you'll have your 500 employees--on paper, anyway. Then you can get your "small business taxbreaks."

Then if anyone asks, I can say, "Oh, yeah! Redstone's great to work for!" But be prepared: I just might tell you off at the next Christmas office party...

edited for grammar

Sorry, it seems like having more then 15 would be a 'big' business. 200 would be a huge business.

What are the 2-20 called? When people think 'small business', those are the ones I'm thinking about.

The House overwhelmingly approved business tax breaks worth $1.8 billion over 10 years on Friday, a key step toward forging a congressional compromise on increasing the minimum wage. The vote on the tax cuts was 360-45.

Passage of a wage hike for the lowest-paid workers now depends on how quickly the House and Senate work out differences between their tax packages. The Senate tax breaks — worth $8.3 billion — are more than four times bigger than the ones passed in the House.

Senate Finance Committee Chairman Max Baucus (news, bio, voting record), D-Mont., said House and Senate negotiators could reconcile differences in the bills within two or three weeks.

"The minimum wage provision is going to trump all of this and is going to drive us to get this thing done pretty quickly," Baucus said.

http://news.yahoo.com/s/ap/20070217/ap_on_go_co/minimum_wage

Tax breaks for the wealthy ..ya ya ra ra...