Friday, September 24, 2004

Tax breaks will remain

Legislation extending three popular middle-class tax cuts for the rest of the decade sailed through Congress by lopsided votes in both the House and Senate, giving President Bush a major legislative victory on his signature economic issue, tax relief.

Many Democrats complained during debate Thursday that the majority Republicans who control Congress should have offset the lost revenue to keep the nation's soaring deficits from getting worse.

But in the end large numbers of Democrats supported the package, something that Republican tax-cut proponents had counted on occurring with a congressional election only 40 days away.

The $145.9 billion tax cut package was approved in the House by a 339-65 vote, with 125 Democrats joining 213 Republicans and one independent in voting for the proposal. In the Senate, the measure passed by a 92-3 vote.

Good news!! I do, however, agree with the democrats on one issue. Savings by the government need to offset this. We can not depend on the President to say no to any proposal so, it is up to Congress to find ways to cut spending.

It's quite simple really. If you only make so much a year, if you are smart, you don't spend morre than you have so, you cut the fat out. Congress needs to do the same thing.