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Tax cuts that President George W. Bush signed in 2001 and 2003 are playing a major role in the election of 2012. They surface again today as the Democratic-run Senate holds a symbolic debate over President Obama's proposal to extend the Bush tax cuts only for middle-class Americans, not for the wealthy.
Republicans in the Senate on Saturday blocked Democratic legislation that would renew low tax rates for individuals' income up to $200,000 and families' income up to $250,000, letting them rise for the wealthiest.
The House of Representatives, in the waning days of Democratic control, passed an extension on Thursday of Bush-era tax cuts for the lower and middle classes in a symbolic vote that would let tax cuts for the wealthiest expire.
The top Republican in the House said on Sunday he would support an extension of tax cuts for middle-class Americans even if tax cuts for the wealthy are allowed to expire.
Senh: This is progress. It seems like common sense. Give tax relieve to people who need it. The rich don't need more money.