Senate approves Dems’ tax-cut bill
WASHINGTON – Democrats pushed a yearlong extension of tax cuts for all but the highest-earning Americans through the Senate on Wednesday, giving President Barack Obama and his party a significant political victory on a measure that is fated to go no further in Congress.
Senators approved the Democratic bill by a near party-line 51-48 vote, with Vice President Joe Biden presiding over the chamber in case his vote was needed to break a tie. Minutes earlier, lawmakers voted, 54-45, to kill a rival Republican package that would have included the best-off in the tax reductions.
The $250 billion Democratic measure would extend tax cuts in 2013 for millions of Americans that otherwise would expire in January. But it would deny those reductions to the earnings of individuals exceeding $200,000 yearly and of couples surpassing $250,000.
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