The House voted late Tuesday night on a package to avoid income tax increases for most Americans, allowing rates to rise on incomes exceeding $400,000 for individuals and $450,000 for couples. The wide-ranging deal, approved by the Senate earlier, delayed for two months billions in budget-wide cuts.
The White House had no immediate update on when Obama would receive and sign the bill.
Meanwhile – Americans voted for higher taxes – and that’s what they’re going to get…
More than 80 percent of households with incomes between $50,000 and $200,000
wouldwill pay higher taxes. Among the households facing higher taxes, the average increase would be $1,635, the policy center said. A 2 percent payroll tax cut, enacted during the economic slowdown, is being allowed to expire as of yesterday.
The Obama Tax “Cuts”… nice work America